Blackstone Group has agreed to sell Strategic Hotels & Resorts to a Chinese firm for $6.5 billion, CNBC has confirmed.
The agreement with China's Anbang Insurance Group comes about three months since the private equity firm completed its acquisition of the luxury hotel operator.
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Blackstone completed its acquisition of Strategic Hotels in December. That deal was valued at $3.93 billion, or about $6 billion, including debt.
A spokeswoman for Blackstone declined to comment Saturday. An email to a media representative at Anbang was not immediately returned.
Beijing-based Anbang has been investing in luxury U.S. hotel properties, including its acquisition of the Waldorf Astoria in New York last year for $1.95 billion.
Buying Strategic Hotels gives Anbang a host of high-end hotels and resorts in a single move.
Strategic Hotels' portfolio is comprised of 16 properties with 7,532 rooms as well as meeting and banquet space. Among the properties are Ritz-Carlton locations in California, the Fairmont Scottsdale in Arizona, and the Four Seasons Resort in Jackson Hole, Wyoming.
— CNBC contributed to this report.