Rosewood London for sale—but what's the asking price?

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.  

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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.

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For the week of Sept. 6-12, occupancy reached 48.5 percent, down 1.6 percent from the previous week.

Tisch joined Loews Hotels & Co in June 2017 from Loews Corp., where he was a VP.