While Huazhu and Jin Jiang are acquiring, HNA and Anbang are selling their assets

Hospitality ON

HNA Group has finally agreed to sell Radisson to Jin Jiang, Anbang is looking to unload a $5.5Bn portfolio of hotels and Huazhu acquired 71.2% shares in Blossom Hill. Anbang Insurance put a luxury hotel collection up for sale, pricing it at $5.5 billion. According to The Wall Street Journal, the Chinese holding company is selling its portfolio in order to raise money following its seizure by the Chinese government. The portfolio consists of hotels that Anbang purchased from Blackstone Group in 2016. Anbang has been entertaining offers for individual hotels, such as:

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Real Estate InvestmentPartnerships, Mergers Acquisitions

Article source: https://www.hospitalitynet.org/news/4089754.html

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