Rosewood Hotels and Resorts Have a New Daddy
The Rosewood Mayakoba
While fathers around the country were faking surprise over their new ties yesterday, Rosewood Hotels and Resorts were absorbing the news that they suddenly had a new daddy.
Hong Kong hotel group, New World Hospitality, has agreed to buy Rosewood for $229 million dollars. The deal is set to close July 29 and it will make Rosewood New World's premiere luxury brand.
Rosewood has 19 hotels and resorts worldwide, including Las Ventanas al Paraiso in Mexico (home to the infamous Director of Romance), the Rosewood Mayakoba with its sexy rooms and the hotel that we would like to die in, The Carlyle in New York.
But now that Rosewood is part of an Asian company, expect lots of expansion in Asia, one of the hottest hotel markets around. From Bloomberg News:
"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," Sonia Cheng, chairman of New World Hospitality, said in the statement today.
So will we see The Carlyle spun off in Hong Kong? Probably not but we kinda like that idea.