What’s Behind the Rise of Chinese Investors in Western Hospitality Companies?
Photo Credit: An exterior of a Radisson Blu Hotel. HNA Group has launched a formal takeover offer for the Rezidor Hotel Group. Rezidor Hotel Group
Skift Take
Even with rumours circulating of an overseas spending clampdown, it looks like Chinese investors will continue to play a big role in the shape of the global hospitality industry in 2017.
The onset of an economic slowdown in China does not seem to have dampened the country’s appetite for foreign investment – especially in the hospitality sector.
This year the hotel industry has seen once again just how popular it is with investors from the country who appear keen to branch out from their home market.
In the last twelve months alone, insurance company Anbang and conglomerate HNA Group have both spent billions of dollars doing a number of deals.
The outlays are on top of other purchases, which taken together have given Chinese investors stakes in a swathe of hotel groups.
Anbang, which dropped out of an attempt to buy Starwood Hotels and Resorts, splashed out almost $6.5 billion to buy most of Strategic Hotels & Resorts from Blackstone.
HNA Group has had an even busier year. The Haikou-based company completed the acquisition of Carlson Hotels, which includes a 50.2 percent stake in Rezidor Hotels Group, while it also bought 25 percent of Hilton
