With the assistance of Jones Lang LaSalle Hotels, Hong Kong investment firm Park Hotel Strategic Investments Limited has successfully acquired Sheraton Wuxi Hotel & Towers and Wuxi City Garden, a commercial project next to the hotel.

The parties have not disclosed details about the transaction.

Sheraton Wuxi Hotel & Towers is the only 5-star hotel in Wuxi, located at the center of the city. The hotel offers 417 rooms, 5 restaurants, complete conference facilities and a fitness center with indoor swimming pool. Wuxi City Garden has 10,398 sqm retail space for rent. Located in the Yangtze River Delta, near both Shanghai and Nanjing, Wuxi is one of the fastest growing cities in China.

The sale of Sheraton Wuxi Hotel & Towers is the fourth deal that Jones Lang LaSalle has reached in China in 2006. The first three transactions were conducted in in Shanghai, Beijing and Tianjin, respectively.