Sheraton Hotel in Tung Chung is on sale with price 30 percent lower than 2023

Sheraton Hotel in Tung Chung, held by Shimao Property Holdings (0813) with other developers, is on sale again. The project was reportedly priced at HK$4.5 billion at the end of last month, more than 30 percent cheaper than the last offer price given in 2023.
The development is a dual-brand hotel operated by Marriott, which will be sold together with the T Bay, a shopping mall at the pedestal, with a total building area of approximately 610,000 square feet and a total of 1,219 rooms, making it the the third largest hotel in Hong Kong in terms of room volume. 
Sheraton Hong Kong Tung Chung Hotel is a high-end five-star hotel with 218 rooms, while the Four Points by Sheraton Hotel has a total of 1,001 rooms and caters mainly to the budget customers.

(June Chen)