Lvshun Group Wins Ningbo Donggang Sheraton for RMB 361 Million

On July 24, Ningbo Donggang Sheraton Hotel was sold at a second auction on Alibaba Assets platform, with Lvshun Group winning at the base price of RMB 361 million. The hotel, built in 2005, is Ningbo's first international five-star hotel, with an appraised value over RMB 645 million; the first auction failed.