Hong Kong New World Hotels Management Group unveils the signature of an agreement for the acquisition of Rosewood Hotels & Resorts LLC.

Rosewood Hotels & Resorts created in Dallas Texas USA, is an independant luxury hotels management company. Their first hotel - Rosewood Mansion on Turtle Creek hotel - was opened in 1979 in Dallas. Today Rosewood is present in 8 countries and manages 22 properties located mainly in USA, Mexico, Carribean and Middle East region.

The acquisition will be completed on the 29th of July 2011 for a total amount of USD 229.5 M.

This major acquistion in the luxury hotels world aims to confirm New World Hotels international psoition and reputation. The Hong Kong hotel management group will take the development of Rosewood to the next step and accelerate its international development. Rosewood Hotels & Resorts will become New World Hotels first luxury upscale brand.

New World Hotel Chairman Zheng Zhiwen says "Rosewood Hotels & Resorts are one of the most reputable of luxury hotels management company of the world, we are very pleased to count them in our network. [...] Rosewood brings a true luxury experience to its guests, we share the same values. We will commit ourselves to preserve the values and reputation of Rosewood brand".