Hotel Assets New Darling of Chinese Investors | wsj.com
Hotel assets are becoming the new darling of Chinese outbound real estate investors this year, as firms look to tap demand from the rising numbers of Chinese tourists venturing abroad, as well as to diversify from a slowing market at home. State-owned Shanghai Jin Jiang International is the latest to join the fray, picking up France’s Louvre Hotels Group, the second-largest European hotels company, from Starwood Capital Group. Jin Jiang, one of China’s biggest hotel groups that manages high-end hotels as well as a budget motel chain, agreed to a price tag of around 1.2 billion euros, according to people familiar with the matter.
