Dalian Wanda Group (Wanda), a Chinese company that owns hospitality properties across the U.S., announced today its plans to sell 76 hotels and 13 tourism projects—including theme parks—in a $9.3 billion deal to developer Sunac China. This is a change of pace for Wanda, which is known around the world for making large scale acquisitions. Due to Wanda’s size, experts in both in the U.S. and in China have been keeping a close eye on the company. Politicians in Washington are pushing for increased review of the big deals made by Chinese companies for national security purposes, while in China, officials are concerned about large companies with massive debt posing a threat to the country’s financial system. To read more about this deal, click here.
