(Dec 23): The billionaire Cheng family have put a luxury London hotel up for sale as they grapple with liquidity challenges at debt-laden Hong Kong property group New World Development Co. The Cheng family has sought a partner to match a capital injection, and the company last month proposed a bond swap that would trim about US$1.2 billion (RM4.88 billion) from its debt pile. A spokesperson at Rosewood Hotel Group declined to comment on ownership matters, but said its brands are not up for sale and all its properties remain fully operational as usual. Chow Tai Fook Enterprises, the private investment arm of the Cheng family, didn’t respond to a request for comment. The Rosewood London, as the Holborn location is known, was the first hotel operated under the brand to open in the UK capital.

Source: The Edge Markets December 23, 2025 03:26 UTC