Chinese Auto-Parts Maker to spend $1 Billion for U.S. Hotels

This group needs signs, right?

Published

9 years ago

October 6, 2015

Darek Johnson Signs of the Times October 2015 Issue

The China Money website recently reported that Chinese auto-parts maker Wanxiang Group Corp. (Hangzhou, China) has teamed with U.S. private-equity firm Geolo Capital to invest US$1 billion in the U.S. for hotel purdhases and, to date, the report said the joint-group has completed purchases amounting to $400 million. The to-date purchases comprise the luxury Ventana Inn & Spa in Big Sur, CA, which is described as “…a woodsy-chic lodge on 243 acres off the Pacific Coast Highway is .5 miles to Pfeiffer Big Sur State Park and 30 miles south of Monterrey.”

Rooms can run over $500 per night.

The China Money website – www.chinamoneynetwork.com – said
Wanxiang America Real Estate Group, since 2010, has invested in approximately 80 U.S. real-estate purchases in 23 states. In June, it acquired the Waldorf Astoria Hotel (Chicago) from billionaire financier Sam Zell for $113 million.

$1 billion to buy hotels?

This group needs signs, right?

The Wanxiang America Corp. Real Estate Group is located at 88 Airport Rd., Elgin, IL. 60123; managing director L. J. Krueger can be reached at (847) 628-8627, or lkrueger@wanxiang.com.

Geolo Captial is located at Pier 5, The Embarcadero, Ste. 102, San Francisco, CA 94111; the telephone is (415) 694-5802. Tom Gottlieb is the managing general partner, his telephone is (415) 694-5820 or email him at tg@geolo.com.

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