China sale. State-owned property developer Shenzhen Investment is selling its interests in several projects in smaller Chinese cities, including its equity position in Sanshui Hotel, to China Evergrande Group, the country’s second-largest developer by sales, for more than 5.424 billion yuan (US$814 million).
New Zealand legend dies. New Zealand hotel magnate Earl Hagaman died on Thursday in Christchurch. The American expat arrived in the 1980s and built the Scenic Circle brand.