Pursuits
Luxury-Hotelier Rosewood to Be Acquired by New World China
This article is for subscribers only.
New World Hospitality, a unit of New World China Land Ltd., agreed to buy luxury hotelier Rosewood Hotels & Resorts for $229.5 million from Rosewood Corp. and Maritz, Wolff & Co.
The deal is expected to be completed on July 29, Hong Kong-based New World Hospitality said in a statement today. The business, which manages properties such as Manhattan’s Carlyle hotel, will operate as the company’s “premium luxury brand.”