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Chinese companies’ hunger for global hotel chains isn’t going away. Chinese companies are on a major global shopping spree so far this year, announcing deals for foreign firms at a record rate. As China’s economy slows, overseas acquisitions offer its corporations another way to expand.
International hotels are benefiting as Chinese consumers splash record amounts of cash on foreign holidays. Chinese tourists spent $215 billion abroad last year, 53% more than in 2014, according to a recent report from the World Travel & Tourism Council.+