Chinese to make 10% of hotel purchases by 2017: Savills

Chinese property investors will make 10% of all international hotel purchases by 2017, according to a new report from estate agent Savills.

The prediction follows a rise in outbound tourism from China, which has overtaken the US as world leader in number of overnight international stays.

Chinese investors have spent €1.92 bn on international hotel purchases over the last five years, just 4% of the global spend. Savills predicts a rise to 10%, citing the UK as an example.

Hong Kong and mainland Chinese buyers have acquired 18 hotel sites in the UK over the last five years, and average expenditure by these developers could exceed £200 mln (€240 mln) a year in the country by 2017, claims Savills.

Greenland Group’s purchase earlier this year of the Ram brewery development in London is a recent example of a Chinese developer moving into the UK capital. In the past few months major Chinese developers like Dalian Wanda and ABP have also bought eye-catching sites in London.

For the full Savills report, click on the attachment below.