Property News · February 6, 2017

Henderson Land to sell Kwun Tong hotel for HK$2.3bn


Henderson Land Development has agreed to sell a hotel in Kwun Tong for HK$2.3 billion, according to sources with knowledge of the transaction.
Newton Place Hotel, which has 598 guest rooms, began business in July 2007 and is one of four Newton hotels owned by Henderson. The deal translates to about HK$3.8 million per room. Henderson was unavailable for comment.
The deal is in line with Henderson’s strategy to dispose of non core properties and cash in for new acquisitions.
In September…

Source : South China Morning Post
Read more…Henderson Land to sell Kwun Tong hotel for HK.3bn

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