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January 30, 2015

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Home » Business » Consumer

Chinese seen as among top hotel investors

By Cherry Cao | January 30, 2015, Friday | Print Edition

CHINESE investors will feature highly as global hotel investments may hit an eight-year high of between US$65 billion and US$68 billion this year, JLL Hotels and Hospitality Group predicted.

They are slated to grab the lion’s share, or US$5 billion, up five-folds from 2014, of around US$8.5 billion in hotel investments in the Asia Pacific region. The value for Asia Pacific marks a 15 percent jump from 2014, the same pace for the global investments.

“This will place Chinese investors, not featured in the top-10 list just a few years ago, among the ranks of top exporters such as the United States-based private equity funds and Middle East investors,” said Scott Hetherington, CEO Asia, JLL Hotels and Hospitality Group.

“China’s policy change allows numerous investors to compete in international real estate for assets including hotels and we expect this heightened level of activity to become the new norm with Chinese investors gaining scale in gateway cities.”

China’s Ministry of Commerce has relaxed policy restrictions on big-ticket foreign investments and eased the approval process for overseas purchases, enabling investors to access key global markets such as New York, San Francisco, London, Paris and Sydney more easily.

A slowing domestic economy and a rising yuan helped Chinese outbound capital to surge in 2014.

Across the region, Japan will stand out due to its weak yen and the supply of cheaper hotel assets. Australia will stay a safe haven due to its stable government and transparency, JLL said.

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