Tuesday, July 27, 2021

Wanda Group Restructures Theme Park and Hotel Design and Management Groups

 

Wanda Hotel Development Co., the Hong Kong-listed arm of Dalian Wanda Group, announced acquisitions of Wanda Culture Travel Innovation Group and Wanda Hotel Management Co. in a major restructuring.

In a filing posted on the Hong Kong Stock Exchange on August 9, Wanda Hotel Development said it will acquire Wanda Travel for RMB6.3 billion, paid either in cash, the issue of shares and/or convertible bonds, with share prices determined by the company’s closing price on Aug. 8 at HK$1.16per share. Wanda Hotel Development will acquire Wanda Hotel Management for a cash price of RMB750 million.

Wanda Travel is principally engaged in theme park design, construction and operation management, while Wanda Hotel Management is principally engaged in hotel design, construction and operation management.

Wanda Hotel Development will also dispose of its interests in four overseas property projects – in London, Chicago (Wanda Vista Hotel and Residences, pictured above), Sydney, and Australia’s Gold Coast – to Dalian Wanda Commercial. After the above transactions, Wanda Hotel Development will become a strategic platform as Wanda Group’s Hong Kong-listed company focusing on theme park and hotel operation and management.

Joe Kleimanhttp://www.themedreality.com
Raised in San Diego on theme parks, zoos, and IMAX films, 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 has been News Editor and contributing author to InPark Magazine since 2011. HIs writing has also appeared in Sound & Communications, LF Examiner, Jim Hill Media, and MiceChat. His blog, ThemedReality.com takes an unconventional look at the attractions industry. Follow on twitter @themedreality Joe lives in Sacramento, California with his fiancé, two dogs, and a ghost.

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