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In fact, the first five-star hotel to be developed since the Olympics 18 years ago, just opened in December In recent times, there have been some interesting developments in hotel and leisure investments by Chinese investors as it becomes apparent that cashed up and well-traveled Chinese entrepreneurs are no longer interested in owning hotel and leisure assets purely as investments, but are rather looking at making a mark in the industry and creating fully developed tourist destinations.
In the past few years, there has been an increase in Chinese, mostly second-generation, hotel investors taking a vested interest in the running of their hotels and creating a unique and fresh approach to the hotel offering, primarily focusing on small and boutique hotels in some interesting and non-city based locations. In Sydney, the Shanghai-based Greenland Property Group made a significant investment when they purchased a large heritage commercial site in downtown Sydney.
Currently being developed into high-end commercial and retail space, Greenland undertook a complete renovation of the original building and converted the old offices into a high-end five-star boutique hotel, now running as the Primus Hotel. Like Louis Li, Greenland is planning on expanding their operations and opening other hotels in international locations.
The estate will house 50 villas that will complement the existing natural environment and be sustainable. Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website.
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The latest figures from the China National Tourism Administration showed that the domestic tourism industry registered 2. Domestic tourism revenue reached 2. Separately, inbound tourist trips amounted to Besides investments, domestic companies are also increasingly taking over hotel management contracts previously run by international brands.
The strong domestic interest in the hotel sector has meant fewer opportunities for foreign investors. Overseas players generally attach a higher risk premium when investing in China, in part due to a limited land use right of 40 years granted for hotel development, says Marriott.
Looking forward, domestic transaction volume is likely to remain healthy, supported by a continued pipeline of new hotels, strong demand and infrastructure upgrades throughout the country. Your message. Subscribe to receive similar reports. I accept all terms and conditions. Send enquiry. Let's Talk. These cookies do not store any personal information. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies.
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