Blackstone To Sell US Hotel Group To China’s Anbang Insurance

Blackstone Group has agreed to sell Strategic Hotels & Resorts Inc. to Anbang Insurance Group for US$6.5 billion, in a quick flip of assets three months after the global private equity firm completed the buyout of the U.S. luxury hotel operator, according to media reports. Blackstone took Strategic Hotels, a real estate investment trust (REIT) […]

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Read the original article: China Money Network