HONG KONG — The Chinese owner of the Waldorf Astoria is placing a bigger bet on high-end lodging in the United States.
The Blackstone Group has agreed to sell Strategic Hotels and Resorts in a deal valued at $6.5 billion just months after buying it, according to a person with knowledge of the deal who was not authorized to comment. The buyer is Anbang Insurance Group, which bought the Waldorf Astoria hotel in New York for $1.95 billion in 2014.
With the deal, the Chinese insurance company would clinch a real estate investment trust that owns and invests in high-end properties. They include Four Seasons hotels and resorts in the Silicon Valley area, Washington and Jackson Hole, Wyo. Strategic Hotels also owns the JW Marriott Essex House Hotel near Central Park in Manhattan.
Details about the deal were not available.