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Historic Hotel Del Coronado to be Sold to Chinese Insurance Firm in $6.5 Billion Deal?

Blackstone Group is an east coast private equity firm based far from the soft sound of gulls and the rolling ice-plant covered sand dunes of Hotel Del Coronado. They’re a place where, we imagine, suited up business men and women pass bottled water across lacquered conference tables whilst wheeling and dealing with other big wig entities, the kinds of deals with price points too grand to even imagine.

Being thus removed from the mellowed out metronome by which California keeps time, doesn’t mean Blackstone doesn’t hold their fair share of mind-bogglingly expensive gold coast properties, one of which happens to be the Hotel Del Coronado, but not for long.

In part of a $6.5 billion deal Blackstone is slated to transfer ownership of Hotel Del Coronado, a designated National Historic Landmark, to Anbang Insurance Group, the L.A. Times reports. 

Photo courtesy of Hotel Del Coronado. The hotel was designated a National Historic Landmark in 1977 and is the famed filming location of Marilyn Monroe's 'Some Like it Hot.'

Photo courtesy of Hotel Del Coronado. The hotel was designated a National Historic Landmark in 1977 and is the famed filming location of Marilyn Monroe’s ‘Some Like it Hot.’

Other properties to be acquired in the deal include The Leows in Santa Monica Beach, The Montage Laguna Beach, the Ritz Carleton Laguna Niguel and others located in the bay area.

Beijing-based Anbag Group took ownership of the historic Waldorf Astoria in New York for the whopping sum of $1.95 billion, last year.

We have reached out to Hotel Del Coronado for comment but have not heard back at this time.

More from Evonne Ermey
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