Representatives of China’s hotel investment giants, including Greenland Group, Fosun, and Poly Group will meet face to face with global hospitality leaders from Accor, Hyatt, Hilton, and Intercontinental Hotel Group amidst a surge in Chinese tourism investments both domestically and overseas.
The China Hotel Investment Conference (CHIC), which is sponsored by Mingtiandi, is being held on the 11th and 12th of May, and includes two days of presentations and expert panel discussions covering opportunities for hotel operators and investors to expand their portfolios within China
Among the more than 300 attendees and 70 speakers appearing will also be representatives of Marriott International, which recently won a $14 billion bidding war with China’s Anbang Insurance to acquire Starwood Hotels and Resorts, according to information from the event organizer.
Chinese Tourism Wave Driving Investment Deals
The hotel investment conference, which is being held for the 12th time, will take place at the JW Marriott Hotel in Shanghai, against a backdrop of growing demand for leisure accommodation in China.
Shanghai Disney Resort in the city’s Pudong district is already in soft opening with the RMB 34 billion ($5.5 billion) project due for its formal debut in just over one month. Disney, along with local theme park competitors such as the Dalian Wanda Group are hoping to take advantage of a Chinese domestic travel market that is expected to be worth over $700 billion by 2020, according to official government statistics.
Conference participants will hear presentations and discussions from leaders experienced in operating hospitality ventures on the mainland, including Accor Executive Director Wayne Li, as well as gaining access to local government authorities such as China Tourism Academy President Dai Bin.
Outbound Boom Brings in Global Players
Also on the agenda this year is a wave of outbound investment deals by Chinese hospitality firms, property developers and other investors.
Fosun Managing Director Andrew Xu will address conference participants about the motivations and rewards for Chinese investors heading overseas. Shanghai-based Fosun invested nearly $800 million last year to acquire France’s Club Med, in one of the largest leisure operation acquisitions to date by a mainland firm.
The conference, which is organised by hotel and hospitality consultancy HVS is happening just after China’s Cindat Capital Management acquired seven hotels in New York for a total of $571 million. Anbang, while frustrated in its bid to acquire Starwood, still owns the largest hotel acquisition of the year, after spending $6.5 billion to acquire Strategic Hotels and Resorts from Blackstone in March.