Acquisition Will Place Partners at the Forefront of Global
Luxury Hospitality
PRNewswire-Asia/ -- Hong Kong-based New World Hospitality hotel
management company has signed a purchase and sale agreement to
acquire Rosewood Hotels & Resorts, L.L.C., a privately held
ultra-luxury hotel management company based in Dallas, Texas, USA,
from current owners Rosewood Corp. and Maritz, Wolff & Co. The
closing date for the USD229.5 million purchase is 29 July 2011.
Rosewood Hotels & Resorts will operate as the premium luxury
brand in New World Hospitality's portfolio.
With New World Hospitality's support, Rosewood Hotels &
Resorts, a recognised leader in luxury hospitality, is now poised
to elevate its properties to even higher acclaim and expand its
reach into new international markets. This development heralds the
latest stage in the evolution of Rosewood Hotels & Resorts,
from the 1979 opening of its flagship property, Rosewood Mansion on
Turtle Creek in Dallas, to a collection of 19 properties in eight
countries that includes some of the most legendary hotels and
resorts in the world.
"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."
"Rosewood's dedication to the highest calibre of luxury hotel
operations and commitment to providing authentic and distinctive
guest experiences is a perfect fit with our own culture and vision.
We will treasure and protect Rosewood's legacy, people and
reputation."
"We are very excited to be on the cusp of joining hands with a
partner that has a deep appreciation for our history, culture and
unique brand," says John Scott, president and CEO of Rosewood
Hotels & Resorts. "We are both dedicated to ensuring that
Rosewood guests continue to receive a seamlessly superlative
experience at Rosewood properties."
Caroline Rose Hunt, honorary chairperson of Rosewood Hotels
& Resorts says: "It is a source of satisfaction to know that
Rosewood Hotels & Resorts will be joining a company that
appreciates the heritage of Rosewood and the values on which it was
built. We see a bright future for Rosewood and all the people who
contributed to its great success."
New World Hospitality management will share more information
upon completion of the acquisition transaction.
About New World Hospitality:
Hong Kong-based New World Hospitality manages the New World
Hotels brand of deluxe properties in China and Southeast Asia, as
well as the select service pentahotels brand currently represented
in Shanghai and Beijing. The group is aggressively expanding its
portfolio with more than 20 properties under development. The
company is a member of New World Group, a Hong Kong-based leading
conglomerate and principal investor in many New World Hospitality
properties, which has owned and developed world class, luxury hotel
properties for 20 years. For further information, please visit
www.newworldhospitality.com.
About Rosewood Hotels & Resorts:
Founded in 1979, and headquartered in Dallas, Texas, USA,
Rosewood Hotels & Resorts manages one-of-a-kind luxury
properties in the world's most desired destinations. Rosewood
properties embrace the company's A Sense of Place(R) philosophy,
reflecting the history, architecture, scale and sensibilities of
the destination. With 19 properties in eight countries, the
Rosewood collection includes some of the most legendary hotels and
resorts in the world including Rosewood Mansion on Turtle Creek(R)
in Dallas, The Carlyle in New York, Rosewood Little Dix Bay on
Virgin Gorda, as well as contemporary classics such as Rosewood
Sand Hill(R) in California, and Rosewood San Miguel de Allende(R)
and Las Ventanas al Paraiso, A Rosewood Resort in Mexico. Rosewood
also offers Sense(R) spa -- featuring treatments reflective of the
location's culture and natural environment -- available exclusively
at select properties. For more information on Rosewood Hotels &
Resorts or Sense, A Rosewood Spa(R), please call +1 888 ROSEWOOD or
visit www.rosewoodhotels.com.
MEDIA CONTACTS:
Paul Calder
CatchOn & Company
[email protected](
mailto:[email protected]
)
Tel. +852-2807-0222
Angela Wong
CatchOn & Company
[email protected](
mailto:[email protected]
)
Tel. +852-2807-0600