Foreign investors finding major deals in U.S. hotel market

05/26/2010 | San Francisco Chronicle

Foreign investors, including many from mainland China, have been finding plenty of hotel deals in the U.S. Chinese real estate development company Shenzhen New World Group, for instance, bought the Los Angeles Marriott Downtown out of foreclosure and for a reported $60 million after the hotel was last sold in 2007 for what was reported to be more than $110 million. And Hong Kong investment firm Keck Seng got a deal on the W Hotel in San Francisco that was purchased in July for $90 million, well below the $212 million paid for the hotel in 2007.

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