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Dalian Wanda Group to Expand in London

News Dalian Wanda Group, a Chinese hotel company, has announced its European expansion plans. The company wants to open a luxury hotel in London. The property will also include commercial space, and the total cost of the project is US$1 billion.

The hotel will be located on the South Bank of London. It will be a newly built hotel that will be created in conjunction with Green Property development. The complex will include a 5-star hotel with 160 guestrooms, and a part of the complex will be dedicated to business and retail facilities.

Dalian Wanda Group is one of leading Chinese companies in luxury segment, and the company is very confident about its development in the UK. It wants to bring Chinese luxury to different parts of the world and wants to make its brand globally recognized. The London property is the debut hotel of the Chinese hotelier outside the home country. Later this year the company will announce the opening of a hotel in New York City. Within next 10 years the company wants to open as many as 10 hotels in different parts of the world. Hotel business is not the only sphere of interest of the Chinese company. Dalian Wanda also wants to purchase 92% of stakes of British yacht maker Sunseeker International. In 2012 the company purchased AMC Entertainment Holdings (the US cinema chain) for US$2.6 billion.


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