SEATTLE, WA--(Marketwired - April 01, 2016) - Strategic News Service's INVNT/IP Consortium issued an open letter warning last week regarding Chinese government investment in the US hospitality industry. The letter focuses on the recent offer by Anbang Insurance Group Inc., a Chinese government-owned conglomerate currently striving to expand holdings in the US hospitality industry through the purchase of major US hotel interests. The open letter, published on March 24th, detailed the potential problems with Chinese government ownership in the industry.
"The increase in Chinese-foreign M&A activity in the last few years is stunning in scale," noted Evan Anderson, INVNT/IP's Director of Research. "The funding for this is often coming from the Chinese government, and industry leaders across the board should be thinking carefully about the possible consequences of selling assets to that entity. In the hospitality industry, we're looking at Chinese government control of the country's most important, and sensitive, meeting places. These hotels are an intellectual property hotbed, and it's critical to understand them as such. They are a part of our inventive infrastructure, and they are vulnerable."
As of Monday, March 28th, Anbang Insurance Group raised its bid on Starwood Hotels to $82.75 per share, exceeding Marriott's last offer of $21 and 0.8 shares of Marriott per share, at a cash price roughly 4,000% above Marriott's original bid of $2.00 (and 0.9 shares) per share.
The letter can be seen here: https://medium.com/strategic-news-service/open-letter-25698002c1fe#.dl9qgh1su
Strategic News Service was founded by Mark Anderson in 1995 as the first subscription-based online news service. Since its inception, SNS has proven the most accurate predictive report covering technology and the global economy. Its subscribers include top managers at technology and finance companies across the globe, including Oracle, Microsoft, HP, Dell, Cisco, Intel, Google, British Telecom, SpaceX, Amazon, Telstra, and others.
INVNT/IP is an international consortium of private interests working to stop nation-sponsored intellectual property theft. For the past 5 years, the consortium has worked with technology leaders, top influencers, and members of government at the cabinet level in Australia, the EU, the United Kingdom and the United States to successfully build awareness and enact real policy change.
Websites: www.stratnews.com, www.invntip.com
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Contact Information:
Press Contact:
Evan Anderson
Strategic News Service
press@stratnews.com
