Room to grow in overseas hotel sector

Chinese companies are expanding their global real estate presence as they snap up blue chip properties in the US and Europe

Chinese companies are expanding into the global hotel market with a raft of plans to buy or build luxury properties after a series of high-profile acquisitions.

Earlier this year, Anbang Insurance Group paid $1.95 billion for the iconic Waldorf Astoria Hotel in New York's swanky Manhattan, while the Sunshine Insurance Group snapped up the Baccart Hotel in the same upmarket district for $230 million.