China’s billionaire investors are looking to pick up luxury hotels in Shanghai while institutional investors like insurers and real estate investment funds and private equity giants take a back seat, as economic stability rekindles risk appetite, according to JLL.The super-rich are eyeing hotels in prime locations in the commercial and financial hub, undeterred by the current low returns, according to Sun Ling, head of JLL’s capital markets division in East China, citing the scarcity value of...