谁是成为酒店投资者？
谈及投资全球酒店房地产，
他们如何评估收益和风险？ Who are the investors and how do they
assess returns and risks when it comes to
spending their capital on hotel real estate
around the world.
自从中国保险公司安邦在不到三年前买下纽约标志性
建筑沃尔道夫(Waldorf Astoria）酒店后，中国投资者
一直在世界各地抢购酒店房地产，投资足迹包括全球
门户城市和欧洲小城镇。然而，这些投资者中很多之
前从未投资过酒店或房地产。这些投资者是谁，他们
如何评估酒店投资？ Since Chinese Insurer Anbang bought the iconic Waldorf
Astoria hotel in New York less than three years ago, Chinese
investors have been snapping up hotel real estate around
the world, leaving footprints in global gateway cities and
small European towns alike. However, many of them have
never invested in hotels or even real estate before. Who are
they and how do they assess hotel investments?
投资者是谁?
中国对外酒店投资者（简称“投资者”）由公司和个人
组成，是一个极其多样化、甚至有时随机的群体。根
据以下一系列参数和角度，可以对他们进行分类：投
资方案、规模、范围、收益预期、风险容忍度和融资结
构；执行力—项目管理专业能力，决策效率和资源；酒
WWW.THECHINAINVESTOR.COM
WHO ARE THE INVESTORS?
Not all Chinese hotel investors are created equal. In fact,
they span across a gamut of defining parameters: entity
type; motivation; deal criteria – investment theme, size,
horizon, return expectation, risk tolerance, and financing
structure; execution capability – project management
expertise, decision making efficiency and resources; and
experience with hotels – positioning, brand, distribution,
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