China's richest Wang Jianlin eyes Four Seasons, US hotels buyout

By Rizza Sta. Ana

Sep 27, 2013 11:28 AM EDT

According to a Bloomberg report, China's richest man may be eyeing Four Seasons or similar boutique chains in his plans to buy hotel management companies. China research head James Macdonald for Savills Plc said over the phone, "It's part of a larger trend. Chinese companies are starting to look at diversifying out of China and bringing intelligence and market experience from operating overseas back to the China market. It's also about taking experience of the China market overseas to try to get the best of both worlds."

Wang Jianlin is the owner of Dalian Wanda Group, a commercial land developer. Wang said this month that he has already tapped two investment banks to assist his company in purchasing hotel management companies in the US. Wang has been eyeing the US as demand for lodging and travel had gained momentum. Financial services firm Robert W. Baird & Co suggested that purchasing privately-held Four Seasons Hotels & Resorts would align Wang's company to the hotel chain's popular, luxury brand. 

Financial advisory firm FBR & Co, on the other hand, said Wang could purchase a collection of small, lifestyle hoteliers like Mondrian and Delano property owner  Morgans Hotel Group Co. Investment bank SunTrust Robinson Humphrey Inc said that Wang could bid on Los Angeles-based Viceroy Hotel Group and San Francisco-based Kimpton Hotel & Restaurant Group LLC.

Wang settling for popular and expensive brands would not be denting his pockets. Dalian's revenue was projected to earn over USD100 billion by 2020. Wang himself is worth USD12.7 billion. 

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