Asia Standard Hotel Holdings, a Hong Kong hotel operator, faces a refinancing crisis as it struggles to secure backing for a HK$1.36 billion ($174 million) loan due next week. The company, which owns five hotels under the Empire brand in the city, has been seeking to roll over the borrowing without securing sufficient lender support as of Monday, according to sources familiar with the matter.

The refinancing difficulties come after Asia Standard Hotel Holdings suffered substantial losses on its investment in China Evergrande's bonds. The hotel operator's financial woes highlight the lingering impact of Evergrande's collapse on businesses across Asia, particularly those with exposure to the troubled property developer's debt, which continues to create ripple effects in regional markets.

With lenders showing reluctance to extend credit, Asia Standard Hotel Holdings now faces a critical liquidity test. The company's ability to navigate this refinancing challenge will determine its immediate operational stability and potentially affect Hong Kong's hospitality sector, which continues to recover from pandemic disruptions while grappling with broader economic headwinds affecting the region.