Speaking at the All-China Federation of Industry and Commerce CRECC Lingshui Summit: 2016 Asia Pacific Hotels Cooperation Forum held in Sanya, China last week, Chamber President Mr Hui Zhang, also announced that Christie & Co will be the invited long-term cooperation professional consultant for China Chamber of Real Estate.
The conference was attended by high-ranking investors from across all Asian markets, and featured speakers such as Mr Elton Sun (EVP of China Lodging Group), Ms Yan Huanh (Deputy General Manager of HK CTS Hotel Group), Mr Derek Chuang (CEO of New Century Hospitality Trust), Mr Jeffery Chen (CEO of CL Capital and Mr Bingdong Zhao (Managing Director of JUNSON Capital), and featured a session on Overseas Hotel Acquisitions which was moderated by Christie & Co’s Joanne Jia.
Joanne Jia, Head of Asia at Christie & Co said, “We are delighted to have been awarded this partnership with such an esteemed organisation as the China Chamber of Real Estate Hotel Investment.
“During the conference, we have spoken to many investors about the issues involved in investing in the overseas hotels market, and whether now is the right time to be putting money into the European market, particularly within the UK.
“It has been more than a month since the EU referendum, and although many overseas investors intend to wait and see until better understanding of Britain’s future after Brexit and further renegotiations are settled, many investors view this as a rare opportunity and seek any bargain given by a weakened British Pound.
“Among these investors, Chinese and Hong Kong investors are relatively active and have completed many transactions, both property and corporate, across the UK and the expected inbound tourism boom due to sharp dropped currency has encouraged players into the UK hotel market.
“The overarching feeling is very positive, and investors all seem to see the UK as a viable investment market, even in the light of the recent Brexit vote.”