China Resources Land, a giant state-run real estate firm, became the mainland’s latest developer to go asset light last week when the Beijing-based company sold the hotel portion of a Shanghai development to Stanley Ho’s Shun Tak Holdings for RMB… Read More>>
Founder Scandal Reveals Central Beijing Site Bought for $13 a Sqm
An ongoing scandal involving two powerful Chinese companies has already led to several detentions related to corruption charges, and this week it revealed how one of Beijing’s most prime locations was acquired for just RMB860 per square metre ($12.90 per… Read More>>
Fosun Said Shortlisting 50 Hotels in Global Investment Drive
Fosun Group has drawn up a shortlist of 50 hotels for acquisition globally as the Chinese investment house plans to invest more than $500 million on hospitality sector assets.
The Shanghai-based conglomerate’s plans for the tourism industry were revealed at… Read More>>
Fosun Said to Be Seeking London’s $762M Grosvenor House Hotel
China’s Fosun International is said to be pursuing London’s Grosvenor House Hotel, as the investment conglomerate continues to expand its global real estate portfolio.
The five-star London landmark is currently on the market for a reported ₤500 million ($762 million)… Read More>>
Chinese Insurer Pays Record $2M Per Room for NY Hotel
China’s insurance companies continued their global shopping spree this week when Sunshine Insurance agreed to buy the still unopened Baccarat Hotel in New York for more than $230 million.
According to sources familiar with the transaction, Sunshine is paying the… Read More>>
Chinese Investor Buys Second Los Angeles Hotel for $160 Mil
A little known company from western China is quickly becoming a major player in the southern California hotel market after a subsidiary of Sichuan Xinglida Group closed on the purchase of the Los Angeles Airport Marriott for $160 million.
The… Read More>>
China’s Sunshine Insurance Buys Sydney Sheraton Hotel for $401M
Hospitality group Starwood Hotels & Resorts Worldwide announced on Friday that it had sold its Sheraton on the Park in Sydney, Australia to China’s Sunshine Insurance Group Corporation for A$463 million (US$401 million).
The acquisition continues a number of major… Read More>>
Hotel Investment Deals in Asia Increased 218% in 2013
The value of hotel investment transactions in Asia climbed to US$7.5 billion in 2013, up 218 percent over 2012 to reach the highest levels since the financial crisis in 2007.
The rebound in hotel asset values and deal numbers was… Read More>>
Chanel’s Karl Lagerfeld to Design 270-Room Macau Hotel
Fashion guru Karl Lagerfeld is going to design a hotel in Macau, as one of the fashion world’s iconic figures turns his attention to a new style sector.
The Chanel mogul is adding to his extensive list of talents – which already include drawing and helicopter design – by turning his hand to architecture and creating a 270-room hotel in Asia’s gambling mecca, Macau.
According to a recent press report, the fashion designer says that he’s turning to hotel design only because he was tired to buying more houses.
Chinese to Account for 10% of Global Hotel M&A by 2017
A market analysis report released this month by international real estate advisor Savills, predicts that Chinese investors will increase their share of global cross border hotel acquisitions from the current level of 4% to 10% by 2017.
The report predicts… Read More>>