Many famous five-star hotels in Shanghai are selling at a loss under the epidemic

Recently, the news that a number of famous five-star hotels in Shanghai are “selling at a loss” has come out one after another, which is highly concerned by the industry.

In the “hotel trading network” and some national hotel investment trading platform, recently, including the Renaissance Shanghai Yu Yuan Hotel, the New Hualian Sofitel Hotel, Greenland Hongqiao World Center Hotel, Greenland Xujing Convention and Exhibition Center Hotel, including a number of five-star hotels are on the shelves, this phenomenon has attracted industry attention.

Among them, Sofitel Shanghai New Hualian was “on the shelf” in December last year, with a transfer price of 2.3 billion yuan. According to a research brief released by, the hotel opened in 2017 and has an average occupancy rate of about 75% in 2019.

Renaissance Shanghai Yu Yuan Hotel was also listed in December 2020 with an offer price of 2.1 billion yuan. The hotel opened in August 2007. Due to its proximity to Shanghai’s famous tourist attractions such as Yuyuan Garden, the Bund and Xintiandi, the occupancy rate has maintained a leading position among its Shanghai counterparts, averaging over 90% annually.

Greenland Hongqiao Hotel, on the other hand, is a joint package sale of several hotels. The assets with a price tag of 5 billion yuan include Shanghai Hongqiao Greenland Pullman Hotel, Pullman Hotel and Pullman high-end apartments, and Xujing Convention and Exhibition Center Project Hotel.

However, according to the Huaxia Times, after the fermentation of the news of “Shanghai five-star hotels for sale”, as of the afternoon of May 19, in addition to the Renaissance Yu Yuan Hotel, the sale information of several other hotels has disappeared.

Why did the sale news suddenly disappear? Is it just an oops? Mr. Yang, the person in charge of the hotel trading network, clearly said that the news is true. In the media attention to the “Shanghai five-star hotel concentration for sale” a matter, several hotels through the intermediary initiative to request the information off the shelves.

Sources close to the matter revealed that, according to their understanding, the intention buyers of several hotels listed by Greenland before are becoming clear, “which may also be one of the reasons for the information off the shelves.

For the concentration of five-star hotels for sale, the industry’s general view is: the hotel pre-investment capital, long return cycle, long-term occupancy of funds, and the epidemic in 2020 is exacerbated by their operational difficulties.