Why is Wanda Hotel for sale?

In the short term, it seems to be a broken dream. In fact, in the long run, Wanda's approach is more of a transformation. Recently, Wanda Hotel announced the sale of all its hotel projects in Chicago, which is Wanda's last overseas real estate project. Therefore, many media directly say that Wanda's dream is shattered, but there are also many media that this is just a way of Wanda's transformation. In fact, the transformation of Wanda began three years ago. Three years ago, Wanda sold 13 domestic cultural tourism project to Sunac, and all 77 hotels were sold to R&F. At that time, it was called a lifeline by the outside world. Now, by selling overseas assets, Wanda's debt can be said to have been well alleviated.

Some real estate analysts also said that the sale of this Chicago project is also to alleviate Wanda's overseas debts and withdraw cash. The Chicago project currently under construction not only has no revenue, but also has a large amount of debt, which caused Wanda's capital flow to be very tight. So now that all overseas assets are sold, Wanda can complete the deleveraging task. What Wanda wants most after the transformation is to shed the skin of real estate. Wang Jianlin said at the 20 18 annual meeting that the company will be completely transformed into a commercial management group and will not develop the real estate industry in the future. All existing real estate projects will also be transferred to another company.

After announcing the transformation, Wanda seems to have a sense of rebirth. 20 18, 2 19, Wanda added 23 light asset models in wanda plaza, which grew even faster this year. Before 10, Wanda announced that it had signed more than 50 projects in wanda plaza, which is expected to reach about 60 by the end of the year.

In his recent appearance, Wang Jianlin said at the company meeting that all departments of the collective should redouble their efforts to get rid of the epidemic and achieve the construction goals set at the beginning of the year, and Wang Jianlin particularly emphasized that the goal of opening Wanda stores this year has not changed.