New World Hospitality is acquiring Rosewood Hotels & Resorts LLC for US$229.5 million from owners Rosewood Corp. and Maritz, Wolff & Co.
The transaction is expected to close late next month. Rosewood will operate as the premium luxury brand in Hong Kong-based New World’s portfolio, which also includes the upscale New World Hotels and the select-service Penta Hotels brands. Rosewood Hotels & Resorts operates 16 hotels in Norh America and 3 in Saudi Arabia, with 3 more to open in Mexico and the Gulf emirates (see picture of the Rosewood Hotel in Abu Dhabi - 2013). New World Hospitality operates two brands, the upscale New World Hotels and the select-service Penta Hotels. The New World brand features 5properties in China, along with hotels in Manila and Saigon, plus 5 more projects in China in the development pipeline. There are 15 Penta Hotels in operation across China, Germany, Austria and the United Kingdom.The transaction is expected to close late next month. Rosewood will operate as the premium luxury brand in Hong Kong-based New World’s portfolio, which also includes the upscale New World Hotels and the select-service Penta Hotels brands. Rosewood Hotels & Resorts operates 16 hotels in Norh America and 3 in Saudi Arabia, with 3 more to open in Mexico and the Gulf emirates (see picture of the Rosewood Hotel in Abu Dhabi - 2013). New World Hospitality operates two brands, the upscale New World Hotels and the select-service Penta Hotels. The New World brand features 5properties in China, along with hotels in Manila and Saigon, plus 5 more projects in China in the development pipeline. There are 15 Penta Hotels in operation across China, Germany, Austria and the United Kingdom.
