Jones Lang LaSalle Hotels advises on sale of Swissôtel Kunshan, People’s Republic of China (Chine)
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Jones Lang LaSalle Hotels advises on sale of Swissôtel Kunshan, People’s Republic of China (Chine)
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Catégorie : Asie Pacifique - Chine - Économie du secteur -
Rachats groupes ou hôtels
Ceci est un communiqué de presse sélectionné par notre comité éditorial et mis en ligne gratuitement le 31-01-2011
Jones Lang LaSalle Hotels is pleased to announce on behalf of Kingdom Hotel Investments that TA Global Bhd., a publicly listed Malaysian company, under its wholly-owned subsidiary Swiss Liberty Sdn. Bhd. has entered into an acquisition agreement to purchase the Swissôtel Kunshan in Kunshan, People’s Republic of China for USD60.75 million. Jones Lang LaSalle Hotels as exclusive advisor negotiated the sale on behalf of Kingdom Hotel Investments.
Occupying a prime location in Kunshan’s city centre, the Swissôtel Kunshan is the city’s leading internationally-branded full-service hotel featuring 387 modern guestrooms, a selection of four food and beverage outlets, spa, fitness centre, and an excellent range of meetings and conference facilities with total capacity of 958 sqm.
Commenting on the sale of Swissôtel Kunshan, Nihat Ercan, Senior Vice President Investment Sales, Jones Lang LaSalle Hotels said “This transaction is a milestone achievement for us in China as it is the first open-market arm’s length hotel transaction to have exchanged contracts in a city outside of Shanghai and Beijing since the global financial crisis. ”
Mr. Ercan added “The sale process generated strong demand domestically and across the Asia region and demonstrated the strong investor sentiment that exists for well-located, internationallybranded institutional-grade hotel assets. While the biggest challenge remains finding suitable assets that meet investor criteria, it will be no surprise to us that on the back of the sale of Swissôtel Kunshan, we will see an increase in investment activity in China.”
Andreas Flaig, Managing Director China, Jones Lang LaSalle Hotels added, “The Swissôtel Kunshan will offer excellent opportunities for income growth in a city that is primed for continued economic expansion and healthy business fundamentals. With China poised for close to 10% GDP growth in 2011 and a boom in domestic corporate travel, demand fundamentals remain robust for cities such as Kunshan across China. This is also underpinned by international operators’ desire to take their brands beyond Beijing and Shanghai and into key second tier-cities, which will help build confidence amongst investors to invest their equity in such promising destinations.”
Strategically located between Shanghai and Suzhou, Kunshan is a major industrial city located in the Yangtze River Delta. Featuring an export-oriented economy with a strong focus on IT manufacturing, Kunshan has experienced an economic boom in recent years with an influx of Taiwanese, Japanese and Korean companies serving as catalyst to the city’s rapid development and resulting in excess of 5,500 investment projects with total registered capital of more than USD 23 billion.
The exchange of contracts on Swissôtel Kunshan follows the sale in late 2010 of the Four Seasons Hotel and Residences in the 21st Century Tower in Pudong, Shanghai to a publicly listed Hong Kong company in a deal also exclusively brokered by Jones Lang LaSalle Hotels.
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2010, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on $4.1 billion worth of transactions globally. In addition, advisory and valuation services were provided on over 1,000 assignments. The global team comprises over 210 hotel specialists, operating from 37 offices in 19 countries. The firm's advice is supported by a dedicated global research team, which produced 70 publications in 2010 in addition to client research. Jones Lang LaSalle Hotels' services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services.
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