anbang
Anbang Said to Have Plans to Close New York’s Waldorf Astoria for Three Years, Converting Most of its 1,400 Rooms to Condos
June 27, 2016
New York's landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. The luxury hotel, managed by Hilton Worldwide Holdings Inc., is set to reopen as many as three years later, with about 300 to 500 hotel rooms remaining, said the person, who asked not to be identified because the plans aren't public. For the complete story please visit: http://www.bloomberg.com/news/articles/2016-06-26/nyc-s-waldorf-astoria-said-to-close-in-2017-to-convert-to-condos ...
Anbang Bows Out; Starwood Reaffirms Commitment to Marriott Merger
Starwood | April 1, 2016
Values Starwood at $77.94 Per Share or $13.3 Billion; Total Per Share Value of $84.07 With Separate ILG Transaction Consideration Provides Significant Upfront Cash and Long-Term Ownership in Largest Hospitality Company in the World Transaction Expected to Create $250 Million in Cost Synergies and Significant Revenue Synergies Special Meeting of Stockholders to Consider Marriott Transaction Set for April 8 STAMFORD, Conn.- April 1, 2016 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) ("Starwood") today announced that the consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Lim...
Marriott Reaffirms Its Commitment to Acquire Starwood Hotels & Resorts Worldwide
Marriott International, Inc. | March 28, 2016
Says Its Signed Deal Provides Greater Long-Term Value for Starwood Stockholders Marriott Will Adjourn Special Meeting of Stockholders to April 8, 2016 Bethesda, Md., March 28, 2016 – Marriott International, Inc. (NASDAQ: MAR) today reaffirmed its commitment to acquire Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), confident that the previously announced amended merger agreement is the best course for both companies. The combined company will offer stockholders significant equity upside and greater long-term value driven by a larger global footprint, wider choice of brands for consumers, substantial revenue synergies, a...
