Skift Take
Some Chinese investors have plenty of cash to spend on foreign investment and between easier approval processes and a slower Chinese economy the Chinese are eager to spread their portfolios overseas.
The Chinese have invested billions of dollars in U.S. hotels during the past five years and are on tap to likely invest billions more during the next five.
At a time when millions of Chinese travelers now visit the U.S. each year Chinese interest in U.S. hotels extends far beyond staying in them as guests. Chinese investors, and particularly Chinese insurance companies, have invested more than $5 billion in U.S. hotels since 2010, according to data from New York-based research firm Rhodium Group cited in a U.S.-China Economic and Security Review Commission report (see Chart 1 below).
Chinese insurance companies invested about $2.4 billion in U.S. hotels in 2015 alone. In February 2015 Anbang Insurance Group purchased the Waldorf Astoria New York for $1.95 billion -- the largest amount paid for a single hotel in U.S. history. Beijing-based Sunshine Insurance purchased the New York
