Wanda Hotel Development Enforces Mortgage on Chicago Project

Wanda Hotel Development Company (HK:0169) has released an update.

Wanda Hotel Development Company is enforcing a mortgage on a Chicago property project due to a default on deferred payments amounting to approximately US$293 million. Despite recognizing an impairment loss of approximately US$126 million, the company assures shareholders that its core revenue-generating operations remain stable and healthy. This move aims to protect the company’s interests while minimizing enforcement costs.

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