The Sheraton Tung Chung is a hotel on the Lantau waterfront, and a bank this week filed to appoint a receiver over it. The debt terms are not public. The building ran below capacity through four pandemic years; the recovery that followed came faster in budget guesthouses and short-stay accommodation than in the conference floors and leisure rooms a hotel of this size depends on. The lender issued no statement.

Hong Kong this week took the top position in global wealth management, ahead of Switzerland by assets under management, according to figures published Thursday. The ranking measures one kind of capital. Not the loan on a Lantau hotel. On the waterfront at Tung Chung, the Sheraton will go to a receiver who sets whether it sells at auction or private tender, and at what price.