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Saudi Prince New Kunshan Hotel Owner
July 6, 2007 |
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Saudi Arabia's Prince Alwaleed Bin Talal has become the new owner of Traders Hotel Kunshan through his affiliate company Kingdom Hotel Investments, and he has renamed the hotel Swissotel Kunshan.
KHI acquired the Traders Hotel Kunshan, reportedly the only approved five-star hotel in Kunshan City, on April 30 for about US$60 million. KHI is a Dubai-based hotel and resort investment group with 34 properties in 17 countries across the world. Swissotel Kunshan is the company's first property in China.
Ahmer Naushad, vice president of KHI who is in charge of asset management, said that Kunshan is one of the most active and dynamic economic cities in China and it provides numerous opportunities for business travelers.
Swissotel Kunshan is strategically located in China and it will provide friendly and warm service for business and leisure travelers through the professional management of Swissotel Group.
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