New World had agreed to transfer the entire 64 per cent stake it holds in Grand Hyatt Hong Kong (left) and Renaissance Harbour View (right) to a 50-50 joint venture to be formed with the Middle East investor, the company told the Hong Kong stock exchange on Thursday. Photos: SCMP

New World Development sells Hong Kong hotel stakes to Abu Dhabi investor for HK$18.5 billion

Grand Hyatt, Hyatt Regency and Renaissance Harbour View will be injected into joint venture

Topic |   New World Development

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New World had agreed to transfer the entire 64 per cent stake it holds in Grand Hyatt Hong Kong (left) and Renaissance Harbour View (right) to a 50-50 joint venture to be formed with the Middle East investor, the company told the Hong Kong stock exchange on Thursday. Photos: SCMP
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