In lots of American cities, the proprietors are increasingly Chinese.
Huge institutional Chinese investors who want international real-estate portfolios normally look for trophy jobs in cities like New York, L.a and London. Just this month, Hilton Worldwide concurred to sell its flagship Waldorf Astoria hotel in New York City to a Chinese insurance company for $1.95 billion– the steepest priceprice ever for an US hotel, brokers say, although it isn’t really the greatest on a per-room basis.
However Chinese investors with smaller sized war chests really wantwish to be seen as worldwide property gamers too, and they have their eyes on other cities. Over the past two years, even more have looked for to purchase offices and hotels in inland cities such as Chicago and Houston in the United States, and Madrid and Frankfurt in Europe, according to a current report by home consultancy Cushman amp; Wakefield.