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Rosewood Hotel Group
Rosewood Hotel Group, also known for its former trading names New World Hotel Group, New World Hospitality and legal names New World Hotel Management (BVI) Limited, New World Hotel Management Limited is a Hong Kong–based multi-national hotel management group and the parent company of Rosewood Hotels & Resorts (founded in 1979). The company is incorporated in the British Virgin Islands as an offshore company. As of 2016, Rosewood Hotel Group was owned by Chow Tai Fook Enterprises, having acquired Rosewood Hotel Group in 2015 from Chow Tai Fook Enterprises' listed associate company New World China Land for HK$1.96 billion.
Rosewood Hotel Group is headed by Sonia Cheng, daughter of Henry Cheng and granddaughter of the late Cheng Yu-tung, the patriarchs of Chow Tai Fook Enterprises and New World Development. She was appointed as the executive vice-chairman of New World Hotel Management Limited in February 2009 and one of the executive director of New World China Land, the parent company at that time in January 2010.
New World Hospitality and New World Hotel Management could be traced back to New World Hotel (later renamed to Renaissance Kowloon Hotel and demolished in the 2010s along with the rest of New World Centre) that opened in the 1980s, Hotel Victoria in Shun Tak Centre (which the hotel became defunct, the building was refurnished as an office tower), as well as the listed real estate developer New World Development and its subsidiaries New World Hotels (Holdings) and New World Hotels International Limited. The latter was incorporated in 1983. In 1987, The Harbour View Hotel (now Renaissance Harbour View Hotel) in the Hong Kong Convention and Exhibition Centre, was also planned to be manage by New World Development group themselves, via New World Hotels International.
In parallel with the acquisition of Ramada-Renaissance Hotels in 1989, New World Development had established its own team in hotel investment and management.
In the 1990s, New World Development entered Mainland China market as hotel manager. In 1990, the group managed 6 hotels in Mainland China, namely Jing-guang New World in Beijing, Yangtze New World in Shanghai, China Hotel in Guangzhou, Dragon Hotel in Hangzhou, Gui-shan Hotel in Guilin as well as New World Dynasty Hotel in Xi'an. Currently, the management contracts for those 6 hotels (except Jing-guang New World which was owned by NWD group) were no longer owned by NWD group.
In 1995, NWD group split the Renaissance Hotels into two parallel subsidiaries: a hotel property holding company Hotel Property Investment (BVI) Limited and a hotel management company Renaissance Hotel Group N.V. New World Hotels International Limited, another hotel management company of the NWD group, became a subsidiary of Renaissance Hotel Group instead. Renaissance Hotel Group became a listed company on the New York Stock Exchange on 27 September 1995. Renaissance Hotel Group also acquired the minority interest of New World Hotels International from several people that connected to NWD group, such NWD directors Stewart Leung Chi-kin, Chan Kam-ling, as well as William Doo Wai-hoi, son-in-law of the patriarch of NWD group, Cheng Yu-tung.
The hotel management company Renaissance Hotel Group was sold in April 1997, for US$491 million (approx. HK$3.8 billion). The Hong Kong incorporated New World Hotels International Limited was also renamed to Renaissance Hotels International Limited in 2005 and RHIL Limited in 2007. Despite NWD group parted away from Renaissance Hotels, 2 out of 4 hotels of New World China Land (a sub-holding listed company of New World Development) in mainland China, were still managed by Renaissance's buyer Marriott International, under Courtyard brand as of 2003–04 financial year. The other two hotels were Mayfair Hotel in Shanghai (it shared the same Chinese name 巴黎春天; 'Paris spring' with department stores of sister company New World Department Store China) and New World Hotel in Shenyang. A strategic alliance was also formed with Marriott International in 1997–98 financial year.
The management contracts of the Courtyard hotels of the NWD group had expired in years 2010 to 2011. The Courtyard by Marriott Beijing became Pentahotel Beijing in 2010–11 financial year, while New World Courtyard Hotel, Shunde became New World Hotel Shunde. Both hotels were managed by New World Hotel Management, a unit of NWD group at that time.
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Rosewood Hotel Group
Rosewood Hotel Group, also known for its former trading names New World Hotel Group, New World Hospitality and legal names New World Hotel Management (BVI) Limited, New World Hotel Management Limited is a Hong Kong–based multi-national hotel management group and the parent company of Rosewood Hotels & Resorts (founded in 1979). The company is incorporated in the British Virgin Islands as an offshore company. As of 2016, Rosewood Hotel Group was owned by Chow Tai Fook Enterprises, having acquired Rosewood Hotel Group in 2015 from Chow Tai Fook Enterprises' listed associate company New World China Land for HK$1.96 billion.
Rosewood Hotel Group is headed by Sonia Cheng, daughter of Henry Cheng and granddaughter of the late Cheng Yu-tung, the patriarchs of Chow Tai Fook Enterprises and New World Development. She was appointed as the executive vice-chairman of New World Hotel Management Limited in February 2009 and one of the executive director of New World China Land, the parent company at that time in January 2010.
New World Hospitality and New World Hotel Management could be traced back to New World Hotel (later renamed to Renaissance Kowloon Hotel and demolished in the 2010s along with the rest of New World Centre) that opened in the 1980s, Hotel Victoria in Shun Tak Centre (which the hotel became defunct, the building was refurnished as an office tower), as well as the listed real estate developer New World Development and its subsidiaries New World Hotels (Holdings) and New World Hotels International Limited. The latter was incorporated in 1983. In 1987, The Harbour View Hotel (now Renaissance Harbour View Hotel) in the Hong Kong Convention and Exhibition Centre, was also planned to be manage by New World Development group themselves, via New World Hotels International.
In parallel with the acquisition of Ramada-Renaissance Hotels in 1989, New World Development had established its own team in hotel investment and management.
In the 1990s, New World Development entered Mainland China market as hotel manager. In 1990, the group managed 6 hotels in Mainland China, namely Jing-guang New World in Beijing, Yangtze New World in Shanghai, China Hotel in Guangzhou, Dragon Hotel in Hangzhou, Gui-shan Hotel in Guilin as well as New World Dynasty Hotel in Xi'an. Currently, the management contracts for those 6 hotels (except Jing-guang New World which was owned by NWD group) were no longer owned by NWD group.
In 1995, NWD group split the Renaissance Hotels into two parallel subsidiaries: a hotel property holding company Hotel Property Investment (BVI) Limited and a hotel management company Renaissance Hotel Group N.V. New World Hotels International Limited, another hotel management company of the NWD group, became a subsidiary of Renaissance Hotel Group instead. Renaissance Hotel Group became a listed company on the New York Stock Exchange on 27 September 1995. Renaissance Hotel Group also acquired the minority interest of New World Hotels International from several people that connected to NWD group, such NWD directors Stewart Leung Chi-kin, Chan Kam-ling, as well as William Doo Wai-hoi, son-in-law of the patriarch of NWD group, Cheng Yu-tung.
The hotel management company Renaissance Hotel Group was sold in April 1997, for US$491 million (approx. HK$3.8 billion). The Hong Kong incorporated New World Hotels International Limited was also renamed to Renaissance Hotels International Limited in 2005 and RHIL Limited in 2007. Despite NWD group parted away from Renaissance Hotels, 2 out of 4 hotels of New World China Land (a sub-holding listed company of New World Development) in mainland China, were still managed by Renaissance's buyer Marriott International, under Courtyard brand as of 2003–04 financial year. The other two hotels were Mayfair Hotel in Shanghai (it shared the same Chinese name 巴黎春天; 'Paris spring' with department stores of sister company New World Department Store China) and New World Hotel in Shenyang. A strategic alliance was also formed with Marriott International in 1997–98 financial year.
The management contracts of the Courtyard hotels of the NWD group had expired in years 2010 to 2011. The Courtyard by Marriott Beijing became Pentahotel Beijing in 2010–11 financial year, while New World Courtyard Hotel, Shunde became New World Hotel Shunde. Both hotels were managed by New World Hotel Management, a unit of NWD group at that time.