China’s Anbang Insurance Group bids $14B for Starwood hotel chain

REGISTER GUARD: The Chinese consortium offered a buyout to the U.S. hotel chain on Monday.

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Anbang, which remains largely unknown to most Americans, has quickly positioned itself to become a player in the U.S. hotel industry, acquiring marquee properties.

It made a splash in the fall of 2014 when it bought New York’s Waldorf Astoria for almost $2 billion. And just days ago, it cut a $6.5 billion deal for Strategic Hotels & Resorts Inc., which owns tony properties like The Westin St. Francis in San Francisco, JW Marriott Essex House in New York and Hotel Del Coronado in San Diego. Strategic also owned five different Four Seasons hotels, two Ritz Carltons and six other luxury properties.

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