By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
4 August 2011
Hotel Investment: Why Asian investors are targeting U.S. hotels for purchase and investment, and what could it mean for you?
This week I was interviewed by several media sources to talk about the explosion of Asian investment - and particularly Chinese investment - in U.S. hotels and real estate. Nadja Brandt at Bloomberg News was kind enough to quote me in one of her articles on the subject, and Gigi Stone, Bloomberg TV anchor, had me in the Bloomberg TV studios for a brief interview and even briefer video clip! (Yes, Mom, it's long enough that you can tell it's me and she does say nice things about our Global Hospitality Group®). Bloomberg TV also made a point of highlighting JMBM's Chinese Investment Group™ which was recently announced.
The Chinese Investment Group™ . . . provides a gateway for Chinese investment in the United States.
Nadja Brandt's article (Asian Buyers Target U.S. Hotels as Affluence Increases Travel
), discusses the just-completed iconic purchase by Hong Kong billionaire Cheng Yu-tung of 5 luxury hotel properties, including the Carlyle Hotel in Manhattan, and Rosewood properties including The Mansion on Turtle Creek and The Crescent in Dallas, The Inn of the Anasazi in Santa Fe, and Little Dix Bay in the British Virgin Islands.
The Cheng family also owns the Beverly Wilshire in Beverly Hills and once owned a stake in the Four Seasons Hotel in New York.
Bloomberg TV also made a point of highlighting JMBM's Chinese Investment Group™
Bloomberg's coverage of Chinese (and broader Asian) investment in the U.S. has really been top drawer, so if you are interested in this subject you will want to follow it. And if you want to go beyond the Bloomberg article, read on about why Asian investment is focused on US hotels.