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The Chinese Anbang bought DoubleTree by Hilton Amsterdam for $392 million

The Chinese insurance group Anbang announces the acquisition from Blackstone of the Doubletree by Hilton Hotel Amsterdam for $392 million.

The Doubletree by Hilton Amsterdam has just been bought by Anbang, a Chinese insurance group based in Beijing, from the investment company Blackstone for $392 million. Located near the main railway station, this hotel has a capacity of 557 rooms.

Founded in 2004, the Anbang Group is known for pursuing an aggressive takeover policy in the real estate industry: it has acquired more than $9 billion in Blackstone properties over the past three years.

As of January 1, 2017, DoubleTree by Hilton ranks 26th in the European ranking of corporate-operated chains and consortia, with 67 properties totaling 12,824 rooms, according to data published by Hospitality ON.

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