China's Anbang to acquire US hotel group for $6.5 billion - Report
The Waldorf Astoria is pictured at 301 Park Avenue in New York October 6, 2014. Hilton Worldwide Holdings Inc. said it would sell its flagship Waldorf Astoria New York hotel to a Chinese insurance company for $1.95 billion, one of the highest prices per room ever paid for a U.S. hote Reuters

China's Anbang Insurance Group has said it's acquiring another top dollar hotel property in the United States -- Strategic Hotels & Resorts -- for $6.5 billion, Reuters reported.

Anbagn had completed in 2015 the purchase of New York's storied Waldorf Astoria hotel from Hilton Worldwide Holdings for $1.95 billion.

Strategic Hotels was taken private three months back by current owner Blackstone private equity group for around $6 billion.

Strategic Hotels has 17 hotels including Four Seasons on Pennsylvania Avenue, the Westin St. Francis in San Francisco and the beach-front Ritz-Carlton Laguna in California.

Privately held Anbang had bought last year US annuities and life insurer Fidelity & Guaranty Life for $1.57 billion.

Anbang, Strategic Hotels and Blackstone declined to comment on the deal, Reuters said.

Anbang, a relatively small Chinese insurance company, punched above its weight to purchase iconic Waldorf Astoria, raising eyebrows in the US.

The company was founded in 2004 with capital of $60 million. Its chairman, Wu Xiaohui, is married to the grand-daughter of Deng Xiaoping, the Economist reported.