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Rosewood Hotels & Resorts Has a New Owner

It is reported that Rosewood Hotels & Resorts LLC has changed its owner as the company was acquired by New World Hospitality for US$229.5 million. The previous owner of the company is Maritz, Wolff & Co.

Currently the deal is at its final stage and the transaction is expected next month. New World will use Rosewood as its premium brand for hotels in Hong Kong. The representatives of New World state the purchase is targeted on improving the positions of New World on upscale and luxurious segment of Asia. In this region Rosewood has gained sufficient success, so New World Hospitality plans to use this experience for its operating properties.

New World Hospitality occupies the 285th place in the list of the largest hoteliers of the world. The company operates mostly in the luxurious segment and currently has 2 brands – New World Hotels (upscale brand) and Penta Hotels (select-service brand). The hotelier’s properties under New World Hotels brand include 5 hotels in China (+5 more in pipeline), a hotel in Saigon, and a hotel in Manila. Penta Hotels brand is represented by 15 hotels in Austria, the UK, Germany, and China.

The CEO of Rosewood Hotels & Resorts has already made an announcement hoping they will start an efficient collaboration with the new owner and this will only improve service and experience of this unique brand.

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