Chinese billionaire has US hotel deals brewing: sources

The deal is expected to be announced publicly soon

TRD WEEKEND EDITION /
Feb.February 03, 2018 10:30 AM

(Credit from back: Flicka; Pictures of Money/Flickr)

Chinese billionaire Cai Kui is said to be in talks to purchase up to $800 million worth of hotels –about seven or eight– from MassMutual.

The properties are boutique hotels and resorts, and unnamed sources say the billionaire’s firm, Junson Capital, is in final talks over the deal, according to Bloomberg. An official announcement is estimated to be made in a few weeks, according to the source.

It wouldn’t be the first time Junson bought up hotels; in 2016, the firm made waves signing a deal for London’s Docklands’ DoubleTree by Hilton Hotel — the first major hotel deal after Brexit.

According to Bloomberg, the looming deal suggests the Chinese government’s capital controls may not be hampering all Chinese investors, particularly those with offshore funds. In the past year, $11.7 billion worth of hotel acquisitions led by Asian firms have occurred based on Bloomberg’s data.[Bloomberg]Erin Hudson


Related Articles

arrow_forward_ios
An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

30 West 31st Street and 52 West 36th Street (Credit: Google Maps)

South Korean firm snaps up two Midtown hotels for $137M

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

Bizarre case of deed fraud complicated Anbang’s $5.8B hotel portfolio deal

arrow_forward_ios