Chinese company to buy Hotel del Coronado

Posted at 12:12 PM, Mar 14, 2016
and last updated 2016-03-14 15:12:17-04

The Hotel del Coronado will soon be under new ownership, 10News learned.

The Chinese company Anbang Insurance Group is buying the famous hotel from a New York-based private equity firm. The deal, which includes the purchase of other hotels, is worth $6.5 billion.

Other Southern California luxury resorts in the deal include the Loews Santa Monica Beach Hotel, the Ritz-Carlton Laguna Niguel and the Montage Laguna Beach.