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April 13, 2011

Kingdom Hotel Investments Completes Swissotel Kunshan Sale

Kingdom Hotel Investments (KHI) has completed the sale of the China-based Swissotel Kunshan hotel to Malaysia-based TA Global Berhad for $60.6m. After transaction costs and repayment of debt, the pre-tax cash proceeds totalled $42.3m. The five-star Swissotel Kunshan is locat

By cms admin

Kingdom Hotel Investments (KHI) has completed the sale of the China-based Swissotel Kunshan hotel to Malaysia-based TA Global Berhad for $60.6m.

After transaction costs and repayment of debt, the pre-tax cash proceeds totalled $42.3m.

The five-star Swissotel Kunshan is located in the centre of Kunshan and offers 387 rooms, a spa, a health centre with swimming pool, a bar and lounge, and two restaurants.

KHI, part of Saudi conglomerate Kingdom Holding Company, is focused on hotel development in the high-growth emerging markets of the Middle East, Asia and Africa.

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