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25 July 2016
Chinese to buy A & K
A Chinese real estate company is to buy Atta member, Abercrombie & Kent, for an undisclosed amount, the company announced last week. Zhonghong Holdings Group agreed to purchase a majority of shares from Abercrombie & Kent’s current owner, U.S.-based hedge fund manager Fortress Investment Group.
The deal “will give us access to capital to finance new investments in the expanding luxury and adventure travel markets,” said Abercrombie & Kent founder and CEO Geoffrey Kent, who will stay on to lead the company. Zhonghong develops and operates leisure and vacation real estate, primarily in Beijing and Hainan Province. .Sanctuary Retreats with 16 Lodges, Camps and Cruises across Sub Saharan Africa, Egypt, Myanmar and China is also owned and managed by A & K
Geoff Kent started Abercrombie & Kent with his parents in Kenya more than 50 years ago. Since then, the company has become a major player in luxury tourism, providing high-end expeditions in more than 100 countries. Abercrombie & Kent has expanded its product offerings to include Journeys around the World by Private Jet, Connections Boutique Group Journey and in 2017 it will add cruises with Azamara Club Cruises, Seabourn and Regent Seven Seas.