Anbang’s bid to buy landmark US hotel near naval base called off due to security concerns

A deal by China's Anbang Insurance Group Co to purchase a landmark Southern California hotel near a major naval base from Blackstone Group LP was called off following opposition from US national security officials, according to people with knowledge of the decision. Blackstone ended the sale of the Hotel del Coronado near San Diego, worth an estimated US$1 billion, after concerns were raised by the Committee on Foreign Investment in the United States , according to the people, who asked not to be identified because the sale process was private.