‘How was your trip with your sister?’ Camp wanted to know when I sat down at our usual table. The holiday crowds seem to have thinned out noticeably.
‘We had a fun time driving around our beautiful little corner of the universe but one aspect of it has me troubled. Every resort we stayed at is owned by the Chinese.’
‘Doesn’t surprise me. Both B.C. and the Canadian government have been wooing Chinese investment. Money is everything.’
‘Yeah, I think you’re right. I did some digging and came up with some astounding facts. Here is a little tidbit from way back in 2015. Chinese homebuyers accounted for nearly one-third of Vancouver’s real estate market during 2015, spending approximately $9.6 billion of the $29 billion of total real estate sales, according to a study by the National Bank of Canada.’
‘The dragons go abroad. Part of Xi’s Belt and Road project. Apparently they are not the best landlords either.’
‘Not in my personal experience. The Harrisson Hotsprings Resort used to be our favorite get away for eagle watching during the salmon runs, for birthdays and bringing our European visitors there. Nowadays it’s run by an unhappy skeleton crew, many of them old timers who have been working there for decades. ‘We’ve had a measly 40c raise in the past 4 years and I cannot wait to retire,’ one tired old server told us. Potential new employees find better paying jobs just across the street at the pub. The latest owner is Aldesta Hotel Group which is owned by Guo Qing Zhang which in turn is owned by Saliance Global Holding, registered in Vancouver. Aldesta also just acquired Fairmont Hotsprings Resort and are a potential bidder for the Pacific Sands Beach Resort in Tofino. They also own Poet’s Cove Resort on Pender Island.Those are just a few of the Dragons acquisitions in B.C.’
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