New World Hospitality has purchased Hong Kong-based hotel management company Rosewood Hotels & Resorts. Rosewood and Maritz, Wolff & Company sold the property for about $229.5 million. Rosewood Hotels & Resorts will operate as the premium luxury brand in New World Hospitality’s portfolio. The transaction is expected to be completed by July 29, 2011.
Click here for the release from PR Newswire.