Following corporate success in China that made him the richest man in Asia, multibillionaire Wang Jianlin recently discussed plans to expand into the global market. He bought AMC Theatres, the largest cinema chain in the United States, in 2012, and his Dalian Wanda Commercial Properties’ recent IPO generated $3.7 billion. Wang has said that his ambitions include deeper forays into sports and entertainment, including building his overseas luxury real estate holdings. He owns more than 400 luxury hotels, movie theaters, and shopping centers in China, and he plans to build a Chinese brand that will become known worldwide.
Part of his plan includes expansion of his Wanda brand hotels. Wang said that his properties will be more opulent than Asia’s Shangri-La hotels, which are owned by Robert Kwok, a billionaire from Malaysia. Wang has invested $2 billion in Chicago and Beverly Hills with plans for more real estate investment in New York and San Francisco. By 2015, Wang plans to establish luxury hotels in at least 30 major world cities, including Sydney and London.
Part of his plan includes expansion of his Wanda brand hotels. Wang said that his properties will be more opulent than Asia’s Shangri-La hotels, which are owned by Robert Kwok, a billionaire from Malaysia. Wang has invested $2 billion in Chicago and Beverly Hills with plans for more real estate investment in New York and San Francisco. By 2015, Wang plans to establish luxury hotels in at least 30 major world cities, including Sydney and London.