New World onboards Rosewood, plans Asia growth

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HONG KONG--Fresh from the US$229.5-million acquisition of Rosewood Hotels & Resorts, New World Hospitality is balancing Asia development with the new Americas-based portfolio of 20 Rosewood properties. Hong Kong-based New World Hospitality has an existing presence in Asia with its upscale New World Hotels and upper-midscale pentahotels brands. New World Hospitality's strength lies strongly in Asia, and we have a number of pipeline projects that we believe will be distinctive fits with the current Rosewood portfolio, and we look forward to announcing new Rosewood destinations in this part of the world in the coming months," Bridle said. "We are also focused on bringing the brand into Europe."

China is a key focus for New World, according to Bridle. The company expects to own approximately 90 hotels by 2016, with a focus on Asian development.

Source: HotelNewsNow

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