Dalian Wanda spared no expense when it built Wanda Reign on the Bund, an opulent hotel that opened on Shanghai’s famous waterfront in 2016. It hired British architect Norman Foster’s studio to design its modern exterior and fashion designer Laurence Xu to create the staff uniforms. The works of celebrated Chinese artists like Huang Gang and Shi Qi graced its walls. Just eight years on, the Chinese conglomerate has sold the luxury hotel to Indonesian tycoon Sukanto Tanoto for less than hal