Hong Kong investors to buy Vancouver hotel for $145 billion

Published on : Thursday, March 2, 2017

Rosewood Hotel GeorgiaA joint venture from Hong Kong has been planning to purchase Rosewood Hotel Georgia of Vancouver for a price of nearly 4145 million from Delta Land Development Limited.

 

Brad Simmons who is the director of sales and marketing of Rosewood (Hotels and Resorts) asserted that the hotel would remain functioning as the management company. He said that from their perspective, it just implies regular business and is merely an acquisition change.

 

He went on to add that he had been creating a news release regarding it and it would soon be released.

 

Able Shine and Magnificent Hotel Investments Limited are the investors belong to Hong Kong who are ready to purchase the hotel. This company is the owner of another company termed as Babenna that owns a 50% stake in a joint venture company.

 

In a certain press release, Babenna said that as asset purchase agreement has also been signed as of 27th February.

 

And, it has three business days right from signing of that agreement to make an initial capital contribution. Currently, it is not known as to when the sale would close.

 

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