Cheng Family Rosewood Sale Explored Amid Pressure on New World Development

The Cheng family Rosewood sale is being explored as Hong Kong tycoon Henry Cheng Kar-shun seeks potential buyers for selected assets within the family’s luxury Rosewood Hotel Group, Bloomberg reported.

Representatives for the Chengs have approached prospective investors to gauge interest, though discussions remain preliminary and terms may shift.

Rosewood is owned by the family’s private investment arm, Chow Tai Fook Enterprises, and is overseen by Cheng’s daughter, Sonia Cheng.

The group operates 58 properties globally, according to its website.

The potential Cheng family Rosewood sale comes as the family looks to raise capital amid mounting financial pressures at its flagship developer, New World Development.