Hong Kong-based New World Hospitality will change its named to Rosewood, following its acquisition of the former US luxury hotel brand.
The company purchased Rosewood for US$229.5 million in 2011 and has since started introducing the brand into Asia, including the launch of its first regional Rosewood in Beijing and other openings in Phuket, Bali and Jakarta. And now New World will further leverage the Rosewood brand by changing its company umbrella name to the Rosewood Hotel Group.
“As Rosewood is the group’s marquee brand, and the one whose properties are most widely represented geographically, we feel it is more appropriate for the company to adopt the Rosewood name,” explained Sonia Cheng, the group’s chief executive officer.
Rosewood Hotel Group’s portfolio now consists of 40 hotels in 14 countries, operated under three separate brands: Rosewood, New World and Pentahotels.
The luxury Rosewood label now encompasses 18 hotels and resorts in eight countries, with new properties in Abu Dhabi, London and Beijing set to open this year. Rosewood is expected to more than double its current portfolio of hotels in the coming five years.
The upscale New World Hotels is the company’s main Asian brand, with properties currently located in Dalian, Shanghai, Wuhan, Ho Chi Minh City and Manila. The company is also planning to more than double this brand’s portfolio size in the next five years, with new hotels expected to open this year in Beijing and Guiyang.
Finally Pentahotels is contemporary midscale brand, represented by 15 hotels in Europe and Asia, and a target portfolio of 80 properties across the world by 2020. Pentahotel Hong Kong will open this summer along with an additional 11 new properties in Europe, including five in the UK, five in Belgium and one in the Czech Republic.