LOS ANGELES, CA, March 14, 2013 – ASAP International Holdings (OTCQB: ASAE) today announced that it has arranged the purchased the 226-room DoubleTree by Hilton San Pedro – Port of Los Angeles on behalf of LA Sky Harbor LLC together with AVIC International USA. The DoubleTree San Pedro – Port of LA represents the first hotel acquisition for LA Sky Harbor in Los Angeles. ASAP and AVIC are excited to partner on their first hotel project.
In the past few years, AVIC has completed three acquisitions totaling over $1 Billion. Confident from the success in the previous transactions and the U.S. economy, AVIC anticipates investing aggressively in commercial real estate for 2013.
Mr. Xu Ming Zhang, President of AVIC International USA commented, “With a simple business plan, we anticipate a seamless transition to add value quickly to the bottom line. We see great growth potential and upside opportunity for the hotel and investment. Besides aviation, our business covers new energy, real estate, hotels, high-end retail, international trade, logistics, electronics and more. This hotel fits perfectly into our business.”
Frank Yuan, CEO of ASAP International stated, “Although the DoubleTree acquisition by AVIC represents its first U.S. hotel investment in several years, we are aggressively looking to add more assets to its portfolio. AVIC is the ideal partner because of its international exposure and human capital with knowledge in a wide range of specialized industrial sectors.”
About DoubleTree by Hilton San Pedro – Port of L.A.
The DoubleTree by Hilton San Pedro – Port of L.A.is a full servicehotel located along the San Pedro Marina and extends along a quiet beach front with breathtaking views of the ocean and silhouettes of wind surfers, all against the familiar backdrop of Santa Catalina Island (which is at its closest point to the Southern California shore).
The mile-long Cabrillo Beach is popular for swimming, surfing, scuba diving, volleyball, wind surfing and fishing. Spend a day walking along the beach, chartering a private yacht for a sport fishing excursion or enjoying a romantic sunset dinner dance cruise. The Cabrillo Marine Aquarium is a short walk from the hotel.
Less than five miles from the hotel is the Trump National Golf Club of Los Angeles, considered the pinnacle of the luxury public golf experience. With world renowned restaurants, unmatched service, exclusive amenities, and spectacular panoramic Pacific Ocean views, Trump National has no equal.
About AVIC International
AVIC INTERNATIONAL has set up wholly-owned or holding subsidiaries in each major city in China and over 80 overseas cities in more than 40 countries and regions and owns 8 listed companies. It has over 500,000 employees, owns nearly 400 investment holding subsidiary enterprises inside and outside China. Its clients have covered over 180 countries and regions and the total assets of the company have exceeded 130 Billion Yuan RMB. Corporate website http://www.avic-intl.cn