Earlier this year, I blogged about the excitement in China generated by the news that its Dalian Wanda Group planned to invest $1.09 billion to build and operate a luxury hotel in London. At the time of their announcement (made in the summer of 2013), it was the first luxury hotel venture announced by a Chinese firm outside of China. Since then, Dalian Wanda has added a luxury hotel project in Madrid and, just this past summer, they advised Chicagoans they will open a $900 million skyscraper, the city’s 3rd-tallest building, on Lakeshore Drive East housing a 240-room luxury, 5-star hotel, luxury apartments and retail space in 2018. Additional US markets targeted by Dalian Wanda include New York, Los Angeles and San Francisco.
Read more at Forbes.