The closing of the sale on Wednesday of New York’s famed Waldorf Astoria hotel to China’s Anbang Insurance Group Co Ltd for $1.95 billion marks the tip of an unprecedented wave of Chinese investment pouring into U.S. hotels.
The closing comes on the heels of Monday’s announcement that another insurer from Beijing, the Sunshine Insurance Group, will purchase the luxurious Baccarat Hotel New York for $230 million.
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