The Chinese investor Anbang has received several bids on its portfolio of American luxury hotels. A total of seventeen investors went through to the last bidding round, Financial Times reports based on insiders. Anbang has recently focused on divestments of its large investments.

The highest bid would be $5.8 billion and the lowest around $4.8 billion. Anbang bought the hotels in 2016 for around 5.5 billion dollars from Blackstone investing company, which would also compete in the current sales round. Brookfield and several Asian asset managers are also mentioned as potential buyers. The portfolio, known as Strategic Hotels & Resorts, consists of fifteen hotels in San Francisco, Chicago and New York, among others.

Anbang has been very active in the acquisition market in recent years, but is now suffering from a huge pile of debt. Concerned Chinese authorities intervened and placed the company under protection.