By Shu Zhang and Bobby Yip
SANYA, China (Reuters) – China’s Fosun International Ltd <0656.HK> on Saturday launched its Atlantis Sanya luxury resort in a $1.74 billion bet that the sail-shaped development will become an icon in Hainan – China’s Hawaii – and a beacon to both domestic and foreign tourists.
The conglomerate’s 11 billion yuan ($1.74 billion) investment in China’s southernmost province is in line with the central government’s desire to further boost tourism in Hainan, already popular among Chinese holidaymakers.
Fosun, co-founded by Chinese billionaire Guo Guangchang, has been one of the country’s most acquisitive overseas dealmakers.
But like peers including Dalian Wanda Group and HNA Group, Fosun – China’s largest privately held conglomerate – has faced increased…