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“Rosewood has delivered exceptional results in recent years and is one of the family’s most cherished luxury hotel brands,” a source said.
The group’s properties were operating as usual, with strategic investments in nearly 30 countries across the world, the sources said. “CTFE undertakes regular reviews of its strategy to unlock long-term business value, including tangible assets,” the sources added, suggesting that while the Rosewood brand was untouchable, some of its other hotels might be available to interested parties.
Rosewood Hotel Group, a privately owned company, is one of the world’s leading global lifestyle and hospitality management groups. It encompasses four brands: ultra-luxury Rosewood; upper-upscale New World Hotels & Resorts; Asaya, an integrated well-being concept; and Carlyle & Co, a modern and progressive private members’ club. Its combined hotel portfolio consisted of 58 hotels in 26 countries with more than 30 new properties currently under development globally, according to its website.
New World Development, the cash-strapped Hong Kong-listed developer of CTFE, operates a number of Rosewood hotel properties such as Rosewood Hong Kong, Rosewood Beijing and Rosewood Phuket in Thailand.
Rosewood Hong Kong, a waterfront hotel in Tsim Sha Tsui, was crowned the world’s best by a UK-based group this year, alongside Hotel de Crillon in Paris and Rosewood Castiglion Del Bosco in Italy.
Rosewood Hotel Group is led by CEO Sonia Cheng Chi-man, daughter of Henry Cheng Kar-shun, CTFE chairman.
