Friday, December 1, 2023

Wanda Group to Sell 91% Stake in Chinese Attraction Holdings

Wanda Group has announced that it will sell 91% of its cultural tourism city and 100% of its hotel operations to Sunac China Holdings for US$9.3 billion. The deal includes thirteen cultural tourism cities in Wenshang, Nanchang, Hefei (above photo), Harbin, Wuxi, Qingdao, Guangzhou, Chengdu, Chongqing, Guilin, Jinan, Kunming, and Haikou. While the specific attractions vary by project, Wanda’s cultural tourism centers are home to theme parks, waterparks, large shopping and entertainment centers, flying theaters and other film-based attractions, indoor ski facilities, aquariums/dolphinariums, and live performance venues. In addition to the cultural tourism cities, the deal includes full ownership of 76 hotels throughout China.

Under the sales agreement, the cultural tourism cities will retain the Wanda name, with design, construction, and management to be continued by Wanda.

Joe Kleiman
Joe Kleiman
Raised in San Diego on theme parks, zoos, and IMAX films, InPark's Senior Correspondent Joe Kleiman would expand his childhood loves into two decades as a projectionist and theater director within the giant screen industry. In addition to his work in commercial and museum operations, Joe has volunteered his time to animal husbandry at leading facilities in California and Texas and has played a leading management role for a number of performing arts companies. Joe previously served as News Editor and has remained a contributing author to InPark Magazine since 2011. HIs writing has also appeared in Sound & Communications, LF Examiner, Jim Hill Media, The Planetarian, Behind the Thrills, and MiceChat His blog, takes an unconventional look at the attractions industry. Follow on twitter @ThemesRenewed Joe lives in Sacramento, California with his wife, dog, and a ghost.

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