Receivers to sell mainland developer Shimao’s 2 Hong Kong hotels for US$344 million
Culture Index
Score Breakdown
Relevance
9/25
Freshness
25/25
Authority
18/20
Brand Signal
17/15
Depth
4/15
5-Axis Cultural Radar
Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have agreed to sell the dual-branded complex, which together comprise the city’s third-largest hotel by room count, for HK$2.7 billion (US$344 million), Shimao Group announced on Thursday. In a filing to the Hong Kong stock exchange, the distressed mainland Chinese developer said the buyer was Oceanfront Hong Kong
