China’s Cash-Strapped Property Firms Turn to Offloading Hotels to Raise Funds
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Selling properties that generate stable cash flows, such as hotels, has become a go-to option for real estate firms looking to improve their balance sheets.
A notable amount of hotel and related properties changed hands on the Chinese mainland last year as China’s cash-strapped real estate industry sought to offload assets to raise money.
Just shy of 24 billion yuan ($3.3 billion) of the assets were traded on the mainland in 2023, up 69.4% from the previous year, according to data from global real estate services firm JLL. The total amounted to 32.3% of the transaction volume for hotels in the Asia-Pacific region.
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