Receivers to sell mainland developer Shimao’s 2 Hong Kong hotels for US$344 million

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. The complex was seized by receivers after Shimao failed to sell it despite slashing the...

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