Saudi based investment house pays US$ 58 million for the hotel.

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, health club with fully equipped gymnasium and 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 Collins. 

Clinton Wu, Vice President 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," Mr. Wu said.

Conveniently located between Shanghai and Suzhou in the heart of the rapidly developing Yangtze River Delta, Kunshan is one of China's 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.