NO US COMPANIES WOULD TOUCH IT BUT CHINA WILL AS IT BUYS THE LA AIRPORT MARRIOTT FOR $160 MILLION–THE CHINESE SPENDING SPREE WAVE PROCEEDS FROM ELECTRONICS TO ENERGY TO REALSTATE–LEFTIST LIBERAL HOLLYWOOD MAYBE IS NEXT– WAIT MAYBE NOT CONSIDERING IT BEING RUN BY LEFTIST DEMOCRATS NOW ANYWAY–IT STILL SHOWS THE US IS STILL A SAFE HAVEN FOR INVESTMENT

A Chinese real estate developer has purchased the vast Los Angeles Airport Marriott for $160 million and vowed to make substantial improvements.

It was the largest hotel sale of the year in Los Angeles County, brokers said, and a sign that the appetite for Southern California properties remains strong among Chinese investors.

Sichuan Xinglida Group Enterprises Co., which has built numerous mixed-use projects in mainland China, bought the hotel through its U.S. subsidiary, XLD Group. The seller was DiamondRock Hospitality Co., a Maryland real estate investment trust that owned it for about a decade, according to Karin Chao of Asia Pacific Capital Co., an adviser to the buyer.

The Airport Marriott is one of the largest hotels in Los Angeles County, with 1,004 rooms in 18 stories. It was completed in 1972 at 5855 W. Century Blvd.

About $35-million worth of improvements are coming to the hotel, said Eddy Chao of Asia Pacific. Meeting rooms on the top floor will be eliminated to create a new "executive floor," where guests in Marriott's rewards program can lounge and eat breakfast.

The smaller existing executive floor will be converted to suite-style hotel rooms, he said. The hotel market around the airport is booming, Eddy Chao added, with more than 90% of the Marriott's rooms occupied on an average night.

http://www.latimes.com/business/realestate/la-fi-1219-airport-marriott-sold-20141219-story.html