Hong Kong’s Cheng family investment firm, CTF Development, is selling the five-star Rosewood London hotel at a rumored $450 million.
As Property Week notes, this price is more than triple what the family paid for the property ten years ago.
The hotel is being marketed by Eastdil Secured on an invitation-only basis to a list of up to 20 potential buyers hand-picked by the current owner. These potential buyers include "a number" of global sovereign wealth funds and high-net-worth individuals from outside the UK, the magazine notes, and the hotel is being sold subject to a management agreement with the Rosewood brand, owned by the Cheng family’s company New World Hospitality.