New World Hospitality Buys Rosewood Hotels

1st August 2011 (Last Updated August 1st, 2011 18:30)

Hotel management company New World Hospitality is to buy Rosewood Hotels & Resorts from Maritz, Wolff & Co for $229.5m. After the acquisition, Rosewood Hotels will operate as the ultra-luxury brand in New World Hospitality's portfolio. The partnership will help t

Hotel management company New World Hospitality is to buy Rosewood Hotels & Resorts from Maritz, Wolff & Co for $229.5m.

After the acquisition, Rosewood Hotels will operate as the ultra-luxury brand in New World Hospitality’s portfolio.

The partnership will help the Rosewood brand achieve global expansion with a target of doubling the size of its portfolio with newly opened and pipeline projects over the next five years, according to New World Hospitality.

Rosewood already has Middle East and Caribbean properties in the pipeline and will announce additional projects soon.