New World Hospitality, a Hong Kong-based hotel management company, has signed an agreement to acquire Rosewood Hotels & Resorts for nearly $230 million. “We will be thrilled to welcome Rosewood Hotels & Resorts, one of the industry’s most illustrious hotel groups, into our family,” says Sonia Cheng, chairman of New World Hospitality. “This acquisition represents a strategic direction for our company to establish a robust presence in the international luxury hospitality arena and, particularly with our strong Asia base, Rosewood will be positioned for substantially accelerated global growth.”
Currently, Rosewood has 19 properties in eight countries.
