Chinese companies looking for opportunities in tourism

Under the title TOP 55 1, the subject of HOSTELTUR magazine’s January cover includes a selection of trends, personalities, companies and destinations that will be protagonists in 2016. One of the initiatives that will continue to dominate this year is the growing interest of Chinese companies by acquiring assets in Spain, especially in the tourism sector.

In our country currently operate about 75 companies from China. Thus consolidates as one of the main destinations of investment of the market, thanks to its geographical location as a gateway to the rest of Europe and Latin America and its attractive market.

In 2014, this investment reached 610 million euros in Spain, 49% more than in 2013, according to a report by Esade. His main bets are focused on real estate assets, both offices and hotel establishments.

According to some experts, search for hotels before the increase provided for in the movements of travelers coming from China. In 2014, the Wanda group, firm that concentrated luxury hotels and shopping malls, acquired the building, Madrid Spain, by 265 million euros to Banco Santander, with the aim of exploiting a shopping center, apartments and a luxury hotel, although the project is in doubt at the moment.

That same year, Jiangsu GPRO bought the Hotel Valparaíso Palace, in Mallorca, for 48 million.

Strategic agreements

in other cases have entered the capital of listed companies such as SR., which in 2013 landed at NH Hotel Group with 20% and is currently already its first shareholder with 29.5%. In addition, both companies have formed a joint venture that will allow the expansion of the Spanish chain in China with the development of a portfolio of hotel management contracts.

In 2011, Meliá Hotels International was associated with the first hotel group in China, Jin Jiang, an agreement that joined the Greenland real estate group and Ctrip online travel agency to grow in this country.

Wanda now has put his eyes in the sea D´Or holiday city, Oropesa del Mar (Castellon). Its owner, Wang Jianlin, negotiates the purchase of 75% of the shares of the resort for 1,200 million euros.

Also this company, also holder of 20% of the Club Atlético de Madrid since March, negotiates the purchase of more than 48% of Globalia and she has been interested in the Camp operation, a now-stalled plan which plans to build a complex of housing and leisure activities in Madrid.

In addition, Platinum Estates, investment group in Hong Kong, announced the purchase of land in Marbella in December to build a large luxury hotel resort. Later, in January, announced the purchase of another local in Madrid with the aim of turning it into luxury apartments.

Foreign markets

Out of Spain, one of the most recent operations is the Alliance between HNA and Pierre & Vacances Center Parcs. The Chinese group has been made with 10% of the French firm and have set up a joint venture (60% owned by HNA and 40% of Pierre & Vacances) for the development of resorts in China.

HNA, fourth Chinese group in the air sector and shareholder of Beijing Capital Airlines – from December unites Madrid with Hangzhou-, Swissport, assistance in airports, to the French firm PAI Partners services company purchased by 2,537 million. Also Brazilian airline Azul announced that SR. will acquire the 23.7% of its capital by 455 million dollars. It is the third airline in the country, behind TAM and Gol.

On the other hand the Chinese group Fosun, is made with 100% Club Med in partnership with Ardian venture capital firm. In addition, owns 5% of Thomas Cook from March 2015 and it could be done with the rest of the company according to British press reports.

Magazine January-February 2016 HOSTELTUR pdf can also be already downloaded by registered users by clicking on this link.

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