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Debt-laden mainland developer Shimao sells its 2 Hong Kong hotels for US$344 million

Debt-laden mainland developer Shimao sells its 2 Hong Kong hotels for US$344 million
South China Morning Post Thursday 22 October 2026, 01:38 UTC By Cheryl Arcibal 1 min read
Key Points

Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have sold 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. Oceanfront is owned by, among others, investment vehicles associated with ParkCity Group, a...

Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have sold 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. Oceanfront is owned by, among others, investment vehicles associated with ParkCity Group, a...
Shimao (ORG) Hong Kong (LOCATION) the Sheraton Hong Kong Tung Chung Hotel (ORG) the Four Points (ORG) Sheraton (ORG) Shimao Group (ORG) Chinese (ORG) Oceanfront Hong Kong Limited (ORG) Oceanfront (ORG) ParkCity Group (ORG)
Originally published by South China Morning Post Read original →

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