Ningbo hotel is first five-star site to call in receivers

The Landison Plaza Hotel Cixi in the eastern city of Ningbo, Zhejiang province, has become the first five-star hotel in China to go into receivership after allegedly being hurt by the government's ongoing anti-corruption campaign.

Opened in 2009 and given its top-star rating at the end of 2013, its owners first hinted at trouble in November after revealing its parent company was seeking new investors.

Although still open for business, the hotel's owner Golden Harbor Tourism Company first applied to the local court for bankruptcy reorganization nearly a year ago, according to a court statement, as the hotel was effectively insolvent.