Receivers to sell indebted Shimao’s 2 Hong Kong hotels to Malaysian developer

South China Morning Post - Oct 22, 2026

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 Limited, which is controlled by Malaysian property developer ParkCity Group. The complex was seized...

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