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Jones Lang LaSalle Hotels sells Traders Hotel Kunshan

Travel News Asia Tuesday, 17 April 2007

As exclusive advisor to First Shanghai Direct Investments, a subsidiary company of First Shanghai Investments Limited and a private investor, Jones Lang LaSalle Hotels arranged the sale of the Traders Hotel Kunshan to Kingdom Hotel Investments, for approximately US$ 58 million. 

Strategically located in the heart of the Yangtze River Delta in the Greater Shanghai Area, the contemporary hotel offers 387 rooms including 26 suites, three food and beverage outlets, function/meeting facilities, an health club with fully equipped gymnasium and an indoor swimming pool.

The sale of Traders Hotel Kunshan is the second deal that Jones Lang LaSalle Hotels has accomplished in the Yangtze River Delta during the past six months, the first being the Sheraton Wuxi Hotel and Towers, said Mr Craig Collins, Executive Vice President, Jones Lang LaSalle Hotels.

Clinton Wu, Vice President Jones Lang LaSalle Hotels, added that, due to the lack of suitable, international grade assets available for sale in gateway cities such as Beijing and Shanghai, interest in rapidly growing second-tier cities have intensified. As Investors are becoming more knowledgeable and comfortable investing in China, they are starting to realize that suitable investment offerings can be found outside of traditional tier one cities.

Conveniently located between Shanghai and Suzhou in the heart of the rapidly developing Yangtze River Delta, Kunshan is one of Chinas leading semiconductor and micro electronics manufacturing hubs for the region. Approximately 30 of the Global Fortune 500 companies have established major manufacturing facilities in Kunshan, and the city is also home to a host of national and regional headquarters for internationally recognized firms.

See other recent news regarding: Jones Lang LaSalle, Hotels, Kingdom Hotel Investments, Shanghai

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