In 2011, Hong Kong-based New World Development Company Limited (referred to as "New World Development," stock code: 00017. HK) acquired Rosewood and its portfolio of five hotels. Currently, the Rosewood Hotel Group encompasses brands such as Rosewood Hotels & Resorts, New World Hotels & Resorts, Asaya, and Carlyle & Co. In the Chinese market, Rosewood Hotel Group manages 16 properties, with four hotels named "Rosewood" located in Guangzhou, Beijing, Sanya, and Hong Kong.
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New World Development highlighted in its latest financial report that the group's hotels in Hong Kong benefited from a robust recovery in inbound tourism, with operating gross profit increasing by 60% year-on-year. Similarly, due to the orderly recovery of domestic tourism and the hotel industry in Chinese mainland, the group's hotels in the region saw a 76% year-on-year increase in operating gross profit.
“Our global headquarters in Hong Kong stands as a beacon of our commitment to delivering exceptional experiences and our deep respect for this thriving city – a sentiment that continues to resonate with our vision as we continue to expand our global footprint,” said Sonia Cheng, chief executive officer of Rosewood Hotel Group.
Beyond its expansion in China and the Middle East, Rosewood Hotels & Resorts is actively seeking new growth opportunities worldwide. This year, the group has also announced plans to open hotels in Austria, Japan, the Netherlands, and Mexico.
Author | Alice
Editor | Will, James
