Chinese invest in Australian hotels

1Although coming off a low base, Chinese investment is increasing in the Australian hotel sector with the country becoming the fifth largest investor in 2014.

CBRE Hotels in Australia director of strategic hotels Oscar Westerlund said first time investors had growing interest in the sector, the South China Morning Post.

?In the past three years, there have been eight major hotel investments involving first-time investors from China,? Mr Westerlund said.

?This represents a significant proportion of total hotel sales in Australia.”

Earlier this year, the Greenland Centre launched a property project costing more than AUD $ 600 million.

Greenland?s investment overtakes the total Chinese investment in Australian hotels the past three years.

In terms of general Asian investment in Australian hotels, Singaporean investment leads the pack along with Hong Kong.?

Source: Tom Neale (2014). Chinese invest in Australian hotels, ETB 1 published May 05, 2014. Viewed May 05, 2014.