Wang Jianlin, who owns the Dalian Wanda Group, hired two investment banks to purchase hotel management companies that are mostly in America. He is eying the Four Seasons, but may also consider Morgans Hotel Group. Wanda has plans to increase new luxury hotel building by 15 a year, and has projects planning in New York and London. James Macdonald, who leads research for Savills, said the move is part of a larger trend of Chinese companies looking to diversify and secure market experience in areas outside of the country.

Full Story:

Related Summaries