FLAMBOYANT Sheraton PR and promotions director Richard Finny cleared his desk and vacated his office yesterday after being informed by the hotel that his contract would not be renewed. Kiwi Finny, a colourful character around town with his kaleidoscopic ties and matching rose on lapel, had been with the Sheraton Hotel in Hong Kong for two years, having arrived here after serving with the hotel chain in his homeland for almost six years. The abrupt parting of the ways came when GM John Henderson gave Finny the news about his contract, which was due to expire today - something Finny described as ''totally unexpected and a bolt from the blue''. Yesterday the only comment available from the hotel was that Finny had ''resigned''. But its ex-PR director vehemently denied that. ''Despite what the hotel says, I did not resign,'' he insisted. ''When you are suddenly told that your contract is not being renewed you are left to read into that what you may.'' During his tenure at the Sheraton, Finny, by virtue of his outgoing personality and innovative ideas, such as the Luncheon Club, helped raise the profile of the Nathan Road hotel considerably. And his easy relaxed manner endeared him to the media, hitherto accustomed to dealing with a mostly circumspect sisterhood of hotel public relations managers. Finny can take credit for initiating a welcome change of attitude in that direction. ''Since this has all been so sudden, I'll have to give myself a bit of time to think things over,'' said Finny, a former BBC producer who lives here with his ex-actress wife, Penny, and two teenage daughters. He added: ''Like anyone else in Hong Kong in similar circumstances, the first thing you worry about is how you'll continue to pay the rent. Especially since I want to stay on living here.''