You are here

Excelsior sale flop a 'reality check'

Property boss describes HK market as 'quite hot', urges developers to be sensible

Last month, Mandarin Oriental International scrapped the sale of The Excelsior, saying that bids for the 869-room hotel failed to meet its expectations and it would review options including redeveloping the building into a commercial property.

Hong Kong

THE scrapped sale of The Excelsior hotel in Causeway Bay may have been a "reality check" in a heated Hong Kong property market, according to Irene Lee, the chair of Hysan Development.

"We didn't get it - or we didn't bid," she said in a Bloomberg Television interview on...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to