Billionaire Cheng family to seek sale of London Rosewood as pressures mount
Asset sales accelerate as New World Development grapples with rising leverage and property downturn.
Rosewood London in Holborn, the Cheng family’s flagship UK hotel, is being quietly offered for sale amid efforts to reduce debt at their property conglomerate New World Development. The landmark hotel was the first Rosewood-branded property to open in the British capital. Image: Rosewood Hotels
Rosewood London in Holborn, the Cheng family’s flagship UK hotel, is being quietly offered for sale amid efforts to reduce debt at their property conglomerate New World Development. The landmark hotel was the first Rosewood-branded property to open in the British capital. Image: Rosewood Hotels