Monday, August 15, 2016
What China's US Buying Spree Means For The Future of Hospitality
The Chinese are on a US buying spree like no other. Since the beginning of the year, Chinese investors have announced interest in, or closed on, several multi-billion-dollar deals on a variety of American enterprises, including GE's appliance division, Strategic Hotels & Resorts (owner of numerous luxury properties here and abroad), a construction manufacturer, the Chicago Stock Exchange, Carlson Hotels (owner of the Radisson brand), Hollywood's Legendary Entertainment Group, Google's smart phone hardware division (Motorola) and Starwood Hotels & Resorts (ultimately acquired by Marriott International after a heated bidding war). According to CNBC, the average deal announced so far this year amounts to $1.5 billion, eight times greater than last year.
Posted by Lanaya Benjamin at 3:21 PM