Sale that includes D.C.'s Four Seasons nearly complete
Anbang Insurance Group Co., the Chinese holding company that attempted to muscle Marriott International Inc. off its purchase of Starwood Hotels Resorts Worldwide Inc., has nearly closed its $6.5 billion purchase of Strategic Hotels Resorts Inc., according to Bloomberg.
The sale includes the Four Seasons Hotel, Washington D.C. on Pennsylvania Avenue NW.
Anbang and Blackstone Group LP (NYSE: BX), which took Strategic private last year, reached terms on the purchase in March. The Chinese company...