Edward C. Baig

USA TODAY

NEW YORK—Blackstone Group is about to check out of Strategic Hotels & Resorts in a $6.5 billion sale to China's Anbang Insurance Group. USA TODAY confirmed the transaction with a source familiar with the deal who requested anonymity.

The private equity firm only completed its $3.93 billion transaction of Strategic Hotels in December. That deal included debt.

The Strategic Hotels portfolio includes several well-known hotels, among them the famed Hotel Del Coronado near San Diego, the Fairmont Scottsdale in Arizona, the Westin St. Francis in San Francisco, as well as Ritz-Carlton, Four Seasons and other luxury brands in various locations. Such properties would appear to match Anbang's appetite for prestigious hotels; last year the Beijing firm bought New York's Waldorf Astoria for $1.95 billion.

In all, Strategic Hotels, which is based in Chicago, owns 16 luxury properties with 7,532 rooms.

Contributing: Associated Press

Email: ebaig@usatoday.com; Follow USA TODAY Tech Columnist @edbaig on Twitter