Creditors are pushing the sale of a dual-branded Sheraton hotel complex on Lantau Island, with Savills running a formal tender for the 1,219-room property.
Savills confirmed on 2026-06-24 that a formal tender is expected to close on August 31 for the property near Tung Chung MTR station and Hong Kong International Airport. The complex is operated by Marriott.
The 2020-completed asset has a gross floor area of around 610,000 sq ft. It was held by mainland Chinese developer Shimao Group, which cut the asking price to about HK$4.5 billion in late 2024 after failing to sell it at HK$6 billion or higher.
Raymond Lee, CEO at Savills Greater China, said during a site visit on Tuesday that the dual-branded Marriott-standard property is a rare offering. Previous expressions of interest attracted serious buyers, and substantive discussions are ongoing with several of them. The receivership appointment of AlixPartners brings clarity to the process.
No floor price has been set for the tender, according to Savills.