As reported in later editions of last night's Evening Times, the 19-year-old - initially reported to have been aged 35 - suffered horrendous injuries.
He is believed to have landed on spiked metal railings 40ft below the £1500 per-night-penthouse at the Blythswood Square hotel.
It is understood he was a guest of a former employee who was staying in the plush suite on Tuesday night.
Emergency services rushed to West George Street at 5am when they received reports of a man lying on the pavement.
A foot long spike from metal railings was found on the road, near the blood-spattered spot where the teenager landed.
Inspector Kenny Darroch, of Police Scotland, said: "There was a small group who appeared to have been at a party in the penthouse and the man has fallen.
"He is in Glasgow Royal Infirmary.
"He's alive but he has horrendous injuries."
Managing director at Blythswood Square, Hans Rissmann, said: "The young man is in hospital and contact has been made with his relatives. Everyone's thoughts are with them.
"The man is an employee of the hotel and was a guest of a guest - a former employee - who was staying in the penthouse.
"It is believed that the incident was an accident. The hotel is providing every co-operation to the authorities.
"A full inquiry will be undertaken in order to understand the circumstances surrounding this accident."
Shocked guests who checked out yesterday spoke of their horror after they heard about the fall.
A student who was spending her first night in the city said: "My room overlooks where he fell. I woke up and the place was swarming with police.
"I asked the hotel what was happening and they said there had been an accident. I assumed it was a car accident.
"I was so shocked when I found out what actually happened. It's horrible."
Another guest, who was in a different part of the hotel, said: "My wife and I heard nothing. There was no commotion..
"We were really taken aback when we discovered that someone had fallen from the hotel.
"It's scary that this could happen."
A spokeswoman for Police Scotland said: "The man remains in a serious condition in hospital."
Blythswood Square was closed to traffic for several hours and a section of West George Street remained cordoned off until 11am yesterday.
The hotel's £1500-per-night penthouse is described as "magnificent" on the Blythswood Square website.