China’s Dajia weighs US$1 billion sale of US luxury hotels including Four Seasons, Montage to cash in on travel demand
- State-owned vehicle could raise more than US$1 billion from the sale of Montage Laguna Beach in California and Four Seasons hotels in Wyoming and Arizona
- Hotels formed part of a collection of assets in the US$5.8 billion deal with Mirae Asset Management, which collapsed in 2020
Dajia, which took over most of the operations of China’s Anbang Insurance Group, is tapping advisers for a potential transaction, said people familiar with the process, who asked not to be named because the matter is private.
The hotels that could be sold include the Montage Laguna Beach in California and Four Seasons resorts in Jackson Hole, Wyoming, and Scottsdale, Arizona, a trio of properties that could bring in more than US$1 billion, one of the people said.
A representative for Dajia in New York declined to comment.
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The three US hotels are well-known in the lodging industry, both for their high-end locations and the recent saga surrounding their ownership. The properties were transferred to Dajia when the Chinese government restructured Anbang.