Fairmont Scottsdale Princess sold to China’s Anbang as part of $6.5 billion deal

Fairmont Scottsdale
Fairmont Scottsdale
Fairmont Scottsdale Princess

Phoenix Business Journal

New York private equity firm Blackstone Group is selling the Fairmont Scottsdale Princess as part of a $6.5 billion deal to sell Strategic Hotels and Resorts Inc. to Chinese company Anbang Insurance Group.

The Fairmont is currently undergoing a $60 million renovation.

Blackstone bought Chicago-based Strategic Hotels, which owns 16 luxury properies, just three months ago in a deal worth $3.93 billion, or $6 billion including debt, reported the Associated Press.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories