posted on August 05, 2011 23:31
Rosewood Mansion on Turtle Creek and Rosewood Crescent Hotel were sold in a $570 million deal, according to reports.
Maritz, Wolff & Co. and Rosewood Corp. sold the hotels along with three other properties to the family of Hong Kong billionaireCheng Yu-tung.
Dallas Business Journal reported in June that Dallas-based Rosewood Hotels & ResortsLLC, the company which managed the two hotels, was acquired by Hong Kong based New World Hospitality for $229.5 million. A unit of New World Development Co. is controlled by the Cheng family, Bloomberg reports.
Other hotels in the recent deal include the Rosewood Inn of the Anasazi in Santa Fe, N.M., Rosewood Little Dix Bay in the British Virgin Islands and the Carlyle in Manhattan, N.Y.
8/1/11, Steven Thompson, Dallas Business Journal