Hong Kong-based New World Hospitality has purchased the Rosewood Hotels and Resorts brand for US$229.5 million.
The Asian group, which operates brands including New World Hotels and Pentahotels, will now add Rosewood as “the premium luxury brand in New World Hospitality’s portfolio”.
There are currently 19 Rosewood properties, the majority of which are located in the Americas, although there are three hotels in Saudi Arabia, and two forthcoming properties in Dubai and Abu Dhabi. For a review of the Jeddah Rosewood Corniche, click here.
With New World Hospitality’s strong presence in China and Southeast Asia, it seems likely that the Rosewood brand will now be extended to the region.
Report by Mark Caswell