AUSTIN – Beijing-based Anbang Insurance Group has purchased the hotel portfolio of Blackstone LP for an estimated $6.5 billion.
The portfolio included the Four Seasons Hotel Austin, which sold for around $359.7 million, or $1.2 million per room. Less than a year ago, the hotel sold for $197 million.
The Blackstone portfolio consists of 16 properties, including the famed Hotel Del Coronado in San Diego and several other Four Seasons-operated hotels around the country.
The Four Seasons Austin has 291 rooms on 2.3 acres at 98 San Jacinto Blvd. on the north shore of Lady Bird Lake.
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