Hong Kong Hotel Co. To Buy Rosewood For $230M

Law360, New York (June 20, 2011, 6:17 PM EDT) -- Hong Kong's New World Hospitality has agreed to buy Dallas-based luxury hotel operator Rosewood Hotels & Resorts LLC for $229.5 million, the companies announced Monday.

Rosewood, currently owned by Rosewood Corp. and Maritz Wolff & Co., will become New World's “premium luxury brand,” the companies said. The sale is expected to close July 29, pending regulatory and shareholder approval.

"Rosewood's dedication to the highest caliber of luxury hotel operations, and commitment to providing authentic and distinctive guest experiences, is a perfect fit with our own culture...
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