Standard International Seeks APAC Expansion
Skift Take
- Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business.
- U.S. hotel operator Standard International is betting on Thailand’s post-pandemic tourism recovery. Bloomberg said Standard is hoping to power an expansion in Asia that will see it open properties in popular and less-explored destinations.
- The new $340 million dual-tower Docklands development in Melbourne, Australiawill include a huge rooftop infinity pool, spanning 35 meters when it opens in 2026.
Dajia Insurance Group Co has put three hotels in the U.S. up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. The Wall Street Journal reported Dajia put up for sale the Montage in Laguna Beach, California; the Four Seasons resort in Jackson Hole, Wyoming; and the Four Seasons in Scottsdale, Arizona. BofA Securities and Eastdil Secured LLC are marketing the hotels on behalf of the seller. The three properties are part of Dajia’s Strategic Hotels & Resorts portfolio. Dajia is the company that took over most of the operations of China’s Anbang Insurance Group. They had an agreement to sell the entire Strategic portfolio to South Korea’s Mirae Asset Financial Group back in 2019 but that deal fell through. Dajia is looking to raise $300 million for each of the two Four Seasons’ properties and $700 million from the Montage Laguna Beach.
U.S. hotel operator Standard International is
