Shanghai Jin Jiang International Hotels Group is to build the world’s highest hotel in Hong Kong, China, in March.

The group invested CNY14.8bn in the development ($2.21bn), which will be built in a venture with Shanghai Tower Development Company.

The 258-room hotel will occupy the 84th to 110th floors of the 121-storey Shanghai Tower, which is being constructed in a central business district.

When complete the Shanghai Tower, which will stand 632m high, will be China’s tallest building and the second tallest in the world.

The hotel will be managed by Today, Interstate (China) Hotels & Resorts, a wholly owned subsidiary of a joint venture between Thayer Lodging Group and Shanghai Jin Jiang International Hotels.

The hotel group operates 650 hotels in China.