Sanya Marina Hotel Sold at Base Price of 133 Million Yuan

On September 7, Sanya Marina Hotel was sold at a base price of 133 million yuan. The property has a building area of 11,422 sqm, is a first-line sea-view hotel with 101 rooms. It failed to sell at first auction for 166 million yuan and again at a reduced price in the second auction. This time it was sold at 80% of the first auction price (appraised at 237 million yuan) to a local Sanya trading company.