Investors are snapping up more hotels and service apartments in Mainland China, betting on a rebound in tourism, reported South China Morning Post.
“We’ve seen huge pent-up travel demand in the post-COVID-19 era,” said Lucia Leung, associate director of research and consultancy for Greater China at Knight Frank. “The bustling domestic tourism [industry] has become an important engine of the recovering hotel market.”
The value of hotel transactions amounted to $1.3 billion in the first six months this year, a 54 percent jump from the same period a year earlier.
