Hotel Del Coronado acquired by Chinese insurance company

The Hotel Del Coronado has been acquired by a Chinese insurance company as part of a $6.5 billion deal.

Blackstone Group, a New York public equity firm has agreed to sell Strategic Hotels and Resorts Inc., which includes the Hotel Del as well as 15 other luxury properties, four of which are in Southern California.

Anbang Insurance Group, based in Beijing, has recently been investing in U.S. hotel properties, including its acquisition of the Waldorf-Astoria in New York for $1.95 billion last year.