Has Beijing Xihua Hotel closed down?

According to recent media reports, Beijing Xihua Hotel has been closed and entered bankruptcy liquidation procedures. Beijing Xihua Hotel Co., Ltd., a subsidiary of this hotel, officially declared bankruptcy on March 1 20265438, and entrusted Beijing No.3 Intermediate People's Court for liquidation. It is reported that the reason for the hotel's bankruptcy is that it suffered serious losses due to poor management and fierce market competition. The hotel was once a well-known five-star hotel in Beijing, and its closure was a big blow to both the hotel industry and the tourism industry.