HONG KONG, 28 March 2023: JLL takes on the role of exclusive sales agent for the Sheraton & Four Points by Sheraton Tung Chung Hotel in Hong Kong.
Opened in late 2020, the property marks Marriott’s first dual-branded project in Hong Kong, and with over 1,200 keys, it’s the second-largest hotel in the territory as measured by room inventory.
The hotel features 3,400 sqm of indoor and outdoor meeting space to meet the diverse needs of both MICE and wedding clients, including one of the largest ballrooms in Hong Kong.
According to JLL, the sale will include T-Bay, Tung Chung’s newest community hub of restaurants, bars and shops.
The property is a 10-minute drive from Hong Kong International Airport and AsiaWorld-Expo, attracting aircrew, corporate guests and leisure travellers.
The hotel is close to the Hong Kong Macau-Zhuhai Bridge, the Shenzhen border-crossing and local attractions, which include designer shopping in Citygate Malls, The Big Buddha, Ngong Ping 360 Cable Car and Hong Kong Disneyland.
JLL Hotels & Hospitality Group senior vice president Ling Wei Tan
said, “Hong Kong’s hotel industry is on the cusp of full recovery in 2023, fuelled by the recent reopening of China’s borders and the dropping of the last Covid-19 measures.”
Hong Kong has historically been a well-sought-after investment market, with an average hotel transaction volume of USD1 billion between 2007 and 2022. JLL expects hotel deal volume to increase by 24% in 2023, boosted by a return of investors’ confidence in this resurgent market.
JLL (NYSE: JLL) is a Fortune 500 company with annual revenue of USD20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of 31 December 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.