New World Weighs Sale of Stake in $2 Billion Hotel Portfolio

The Grand Hyatt hotel in Hong Kong.Photographer: Jayne Russell/AFP/Getty Images

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By Cathy Chan and Low De Wei

May 5, 2026 at 6:43 AM UTC

Updated on

May 5, 2026 at 2:56 PM UTC

New World Development Co., the cash-strapped property developer, is in talks to sell its 50% stake in a portfolio of three Hong Kong hotels valued at $2 billion, people familiar with the matter said.

The portfolio includes the Grand Hyatt, the Renaissance Harbour View Hotel, and the Hyatt Regency in Kowloon, the people said, asking not to be identified because the deliberations are confidential. Abu Dhabi Investment Authority owns the other half of the portfolio.