--- title: "LVGEM CHINA's subsidiary plans to sell hotel properties located in Los Angeles, USA for USD 20 million" description: "LVGEM CHINA announced that its wholly-owned subsidiary LVGEM Hotel Corporation has reached an agreement with Capital Insight Holdings LLC to sell a hotel property located in Los Angeles for USD 20 mil" type: "news" locale: "en" url: "https://longbridge.com/en/news/233781221.md" published_at: "2025-03-30T22:36:03.000Z" --- # LVGEM CHINA's subsidiary plans to sell hotel properties located in Los Angeles, USA for USD 20 million > LVGEM CHINA announced that its wholly-owned subsidiary LVGEM Hotel Corporation has reached an agreement with Capital Insight Holdings LLC to sell a hotel property located in Los Angeles for USD 20 million. The hotel is situated in the Covina area of California and has 258 guest rooms. Although this sale will result in a loss, the company's management believes that this move will improve its financial condition and provide cash flow for repaying outstanding debts According to the announcement from LVGEM CHINA (00095), on January 16, 2025, the seller (a wholly-owned subsidiary of the company, LVGEM Hotel Corporation) entered into an agreement with the buyer, Capital Insight Holdings LLC, under which the seller agrees to sell all its interests in the hotel assets to the buyer for a cash consideration of USD 20 million, subject to the terms and conditions set forth in the agreement. The hotel is located in the Covina area of California and has 258 rooms. Given the current market conditions, the company's management has been considering ways to generate additional cash flow to improve the company's financial situation, including but not limited to selling properties classified as property, plant, and equipment in the group's audited financial statements as of December 31, 2024, when buyers are available. Considering the group's current financial and liquidity situation, although the hotel assets are being sold at a price lower than their book value and the company will recognize a loss from the sale, the transaction allows the group to liquidate its investment in the hotel assets and generate cash to repay the outstanding debts guaranteed by the seller, thereby improving the company's financial condition ### Related Stocks - [00095.HK - LVGEM CHINA](https://longbridge.com/en/quote/00095.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | LVGEM China Reports RMB73 Million Property Disposal and Ongoing Cost Controls | LVGEM (China) Real Estate Investment Company Limited reported a quarterly update, highlighting a RMB73 million property | [Link](https://longbridge.com/en/news/271196526.md) | | Ubar Hotels And Resorts Board Considering To Acquire Al Sawadi Beach Resort | UBAR HOTELS AND RESORTS SAOGM):UBAR HOTELS AND RESORTS - BOARD CONSIDERING TO ACQUIRE AL SAWADI BEACH RESORT | [Link](https://longbridge.com/en/news/276095095.md) | | Gulf Hotels Oman FY Dividend 200 Baizas /Share | GULF HOTELS (OMAN) M):FY DIVIDEND 200 BAIZAS PER SHARE | [Link](https://longbridge.com/en/news/276093825.md) | | National Hotels FY Profit 3.1 Mln Dinars | National Hotels Co BSC :NATIONAL HOTELS FY NET PROFIT ATTRIBUTABLE 3.1 MILLION DINARSNATIONAL HOTELS FY DIVIDEND PER SHA | [Link](https://longbridge.com/en/news/275995972.md) | | REG - BlackRock Group PPHE Hotel Grp Ltd - Form 8.3 - PPHE Hotel Group Limited | BlackRock, Inc. disclosed its position in PPHE Hotel Group Limited, reporting ownership of 1,133,393 ordinary shares, re | [Link](https://longbridge.com/en/news/276458741.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.