Swiss Liberty Acquires Swissotel Kunshan
Jones Lang LaSalle Hotels, representing Kingdom Hotel Investments, has announced that it has signed a sale-and-purchase agreement for shares with Swiss Liberty Sdn Bhd, a wholly-owned subsidiary of TA Global Bhd, to buy the business and hotel of Swissotel Kunshan in Kunshan, China for USD61 million.
Andreas Flaig, the managing director of Jones Lang LaSalle Hotels in China, said that Swissotel Kunshan will offer excellent opportunities for income growth in a city that is primed for continued economic expansion and healthy business fundamentals.
TAG said the acquisition would boost its hospitality operations in major cities worldwide, besides expanding its operations in China.
Located in the city centre of Kunshan, the five-star Swissotel Kunshan features 387 guest bedrooms, four restaurants, a spa center, gym, and meeting facilities of 958 square meters.
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