The Real Deal New York

Posts Tagged ‘anbang’

  • From left: Michael Bloomberg, Wu Xiaohui and Henry Kissinger

    Donald Trump was the elephant in the Waldorf Astoria hotel’s ballroom Thursday night, as Chinese and U.S. business leaders gathered for a gala dinner and pondered the future relationship between the superpowers.

    [more]

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  • The Waldorf-Astoria and Wu Xiaohui (inset)

    The Waldorf Astoria and Anbang’s Wu Xiaohui (inset)

    As China’s insurance giants grow and snap up properties in New York and elsewhere, observers and regulators are increasingly worried about the industry’s reliance on risky short-term deposits. [more]

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  • Jared Kushner, 666 Fifth Avenue and Wu Xiaohui of Anbang

    Jared Kushner, 666 Fifth Avenue and Wu Xiaohui of Anbang

    UPDATED, 4:02 p.m., Jan. 8: Jared Kushner is poised to step down as CEO of Kushner Companies, his attorney told the New York Times. The move comes as Kushner, who heads one of New York’s most active real estate investment and development firms, continues to play a central role in the transition team of his father-in-law, President-elect Donald Trump, and is expected to be one of the most influential advisers in his administration. [more]

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  • The Waldorf Astoria (inset: Wu Xiaohui)

    Anbag Insurance Group filed plans Thursday to renovate the iconic Waldorf Astoria. The filings offer the first detailed look into the new owner’s vision to transform the landmarked hotel. [more]

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  • Anbang's Wu Xiaohui and Essex House

    Anbang’s Wu Xiaohui and Essex House

    Anbang Insurance Group closed on its acquisition of the Strategic Hotels & Resorts portfolio from the Blackstone Group. The Chinese insurance company bought 15 of 16 of the U.S. properties, which includes the iconic Essex House at 160 Central Park South. [more]

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  • The Waldorf-Astoria and Wu Xiaohui (inset)

    The Waldorf-Astoria (inset: Wu Xiaohui)

    Under pressure from preservationists, Anbang Insurance Group has agreed to maintain the distinctive Art Deco interior of the Waldorf Astoria during its condominium conversion of the iconic hotel. [more]

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  • Waldorf Astoria owner is a Chinese enigma

    September 02, 2016 08:39AM
    The Waldorf Astoria hotel and Wu Xiaohui

    The Waldorf Astoria hotel and Wu Xiaohui

    Who really owns the Waldorf Astoria Hotel? Turns out the answer is surprisingly hard to come by. [more]

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  • The Waldorf Astoria hotel

    The Waldorf Astoria hotel

    Last call at the Waldorf! The iconic Midtown hotel won’t be taking reservations after Feb. 28, 2017 and the final checkout will be March 1 ahead of plans to renovate part of the hotel into luxury condominiums. [more]

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  • The Waldorf-Astoria and Wu Xiaohui (inset)

    The Waldorf Astoria (inset: Wu Xiaohui)

    Anbang Insurance Group plans to shut down the Waldorf Astoria hotel for up to three years while it converts the majority of the rooms into condominiums.  [more]

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  • The Waldorf-Astoria and Wu Xiaohui (inset)

    The Waldorf Astoria and Anbang’s Wu Xiaohui (inset)

    The new Chinese owner of the legendary Waldorf Astoria is planning to turn up to 1,000 rooms at the storied Midtown hotel into condominiums. [more]

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  • WaldorfWu

    The Waldorf-Astoria (inset: Wu Xiaohui)

    China’s insurance regulator plans to investigate Anbang Insurance Group amid its recent U.S. real estate investment binge. [more]

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  • Marriott Starwood

    From left: Arne Sorenson and Thomas Mangas

    After a drawn-out process that including a bidding war with Chinese insurance giant Anbang, Marriott International’s $12.4 billion acquisition of Starwood Hotels & Resorts received approval from shareholders of both companies – all but sealing a deal that will create the world’s largest hotel operator.

    The takeover received overwhelming approval Friday from both sides of the table, with Starwood stockholders getting 0.8 shares of Marriott common stock plus $21 in cash for each share of Starwood stock, the companies said in a joint statement. [more]

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  • wu-xiaohui (1)

    Anbang’s Wu Xiaohui

    Financing and regulatory questions, along with an odd negotiating approach, ultimately doomed Anbang Insurance Group’s bid for Starwood Hotels & Resorts.

    Anbang retracted its $14 billion bid last week for the hospitality group – which includes the St. Regis, W, and Westin brands – in the face of Starwood’s demands for hard guarantees that the deal would actually close, citing “various market considerations.” [more]

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  • From left: The W Hotel Union Square in Manhattan and Anbang's CEO Wu Xiaohui

    From left: The W Hotel Union Square in Manhattan and Anbang’s CEO Wu Xiaohui

    Wu Xiaohui could have at least taken Thomas Mangas out for dinner: Anbang Insurance Group reportedly withdrew its $14 billion bid for Starwood Hotels & Resorts by email and without explanation Thursday[more]

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  • The W Hotel Union Square is one of Starwood's New York City hotels

    The W Hotel Union Square is one of Starwood’s New York City hotels

    Anbang Insurance Group is reportedly giving up on its bid to take over Starwood Hotels & Resorts. The move likely ends a two-week bidding war with Marriott International that grabbed headlines around the world. [more]

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  • Thomas-Mangas-W-Hotel-Wu-Xiaohui-e1458650883903

    From left: Starwood’s Thomas Mangas, the W Hotel and Anbang’s Wu Xiaohui

    If Anbang Insurance Group wins its bidding war for Starwood Hotels & Resorts, the hospitality firm would still have a lot of work to do to ensure the deal closes.  [more]

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  • Who owns Anbang?

    March 29, 2016 10:11AM
    The Waldorf Astoria hotel and Wu Xiaohui

    The Waldorf Astoria hotel and Wu Xiaohui

    Anbang Insurance Group has burst onto the world stage in the last two years, making splashy, high-dollar purchases, but much about the company’s internal structure remains murky. [more]

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  • Anbang ups Starwood offer to $14B

    March 28, 2016 09:59AM
    Arne-SorensonThomas-Mangas-Wu-Xiaohui-1-552x250

    Arne Sorensen, Thomas Mangas and Wu Xiaohui

    Anbang Insurance Group, undaunted by competition from Marriott International, further upped its bid for Starwood Hotels & Resorts, now offering $14 billion. [more]

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  • Regis Hotel

    If Anbang Insurance is successful in its bid for Starwood Hotels & Resorts, iconic buildings such as the W, Sheraton, Westin and St. Regis would join a growing number of New York City properties being snapped up by Chinese investors.

    Here’s a look seven trophy properties in New York City already owned by Chinese investors, including the Waldorf Astoria hotel and 28 Liberty Plaza.

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  • Thomas Mangas W Hotel Wu Xiaohui

    From left: Starwood’s Thomas Mangas, the W Hotel and Anbang’s Wu Xiaohui

    The drama around the sale of Starwood Hotels & Resorts may yet continue. [more]

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