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Chinese firm buys Los Angeles Airport Marriott for $160 million
Chinese firm buys Los Angeles Airport Marriott for $160 million

A Chinese real estate developer has purchased the vast Los Angeles Airport Marriott for $160 million and vowed to make substantial improvements. It was the largest hotel sale of the year in Los Angeles County, brokers said, and a sign that the appetite for Southern California properties remains strong among Chinese investors. Sichuan Xinglida Group Enterprises Co., which has built numerous mixed-use projects in mainland China, bought the hotel through its U.S. subsidiary, XLD Group. The seller was DiamondRock Hospitality Co., a Maryland real estate investment trust that owned it for about a decade, according to Karin Chao of Asia Pacific Capital Co., an adviser to the buyer. The...

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