Misplaced Pages

#987012

45-700: Rosewood Hotel Group is headed by Sonia Cheng , daughter of Henry Cheng and granddaughter of the late Cheng Yu-tung , the patriarchs of Chow Tai Fook Enterprises and New World Development . She was appointed as the executive vice-chairman of New World Hotel Management Limited in February 2009 and one of the executive director of New World China Land , the parent company at that time in January 2010. New World Hospitality and New World Hotel Management could be traced back to New World Hotel (later renamed to Renaissance Kowloon Hotel  [ zh ] and demolished in

90-753: A 40.8% ownership stake—officially inaugurated in December 2010. In April 2015, NWD formed a 50-50 joint venture with HIP Company Limited, a subsidiary of The Abu Dhabi Investment Authority,  to acquire the Grand Hyatt Hong Kong, Renaissance Harbour View, and Hyatt Regency TST with a deal valued at HK$ 18.5 billion, resulted in NWD receiving approximately HK$ 10 billion. NWD then launched its new healthcare brand, Humansa, and acquired FTLife in November and December 2018, respectively. In October 2020,

135-504: A KLUB 11 member and linking to the K Dollar Program account, members can earn K Dollars, which can be used as instant cash at a wide range of participating merchants. A minimum spending amount of 10 K Dollars is required for redemption. The K Dollar conversion rate varies by KLUB 11 tier: The program features over 1,000 merchants throughout Hong Kong, including locations within K11 Art Mall and Victoria Dockside . In March 2024,

180-560: A brother-in-law of Henry Cheng , patriarch of CTFE–NWD group, thus an uncle of Sonia Cheng , the CEO of Rosewood Hotel Group. As of 2018, New World Hotel Shanghai and pentahotel Shanghai were still managed by Rosewood Hotel Group. As of 2017, One of the 3 hotels of Baha Mar Resort in Nassau, Bahamas , was managed by Rosewood. The mega-resort was acquired by Rosewood Hotel Group's parent company Chow Tai Fook Enterprises in 2016. Despite selling

225-605: A contract in June 2008, to manage L'Arc New World Hotel Macau for 10 years, and renewable afterwards. The hotel was 40% owned by International Entertainment Corporation , a listed subsidiary of privately owned Chow Tai Fook Enterprises group at that time, but not belongs to New World Development group. New World Hotel Management also started to introduce the brand penta to the Mainland China in October 2008, and part of

270-600: A contract with parent company New World Development, to manage the Jing-Guang New World Hotel in Jing Guang Centre , which the hotel was majority owned by New World Development and ultimate parent company Chow Tai Fook Enterprises . New World Hotel Management (BVI) Limited also owned New World Hotel Management (Macau) Limited, a hotel management company based in Macau. The Macau company signed

315-501: A feature was introduced allowing members to link their Visa cards to the K11 HK app, enabling automatic earning of K Dollars without the need to queue up at the concierge, upload receipts, or scan the QR codes. This integration is part of a multi-year partnership between New World Development (NWD) and Visa to deepen customer engagement and stimulate local spend. Upon linking their Visa cards to

360-900: A large-scale cultural and retail complex in Prince Bay, Shenzhen. In November 2020, NWD named its mixed-use development project within the SKYCITY complex at the Hong Kong International Airport "11 SKIES". NWD established Share for Good, Hong Kong's first large-scale crowd-donation platform in March 2022, to meet the immediate needs of the impoverished in the fifth wave of COVID-19. In collaboration with Rafa Nadal Academy, Hong Kong Golf & Tennis Academy welcomed Asia's first Rafa Nadal Tennis Center in July 2022. NWD collaborated with 4 corporations in July 2023 to establish

405-607: A non-executive director, she became an executive director in April 2021 and became vice-chairman and executive director in June 2022. Cheng holds several board positions. She is the chairman of the advisory committee of the School of Hotel and Tourism Management at The Chinese University of Hong Kong and The Hong Kong Polytechnic University . She was also a Council Member of the Chinese University of Hong Kong . Cheng

450-503: A unit of NWD group at that time. Circa 2006, New World Development group started to focus on re-expanding its own hotel management unit for new hotels of New World China Land (NWCL), as well as for those hotels that the management contract were expiring. The unit, known as New World Hotel Management Limited, was incorporated in Hong Kong in 2005. The 65% stake of the parent company of the unit, New World Hotel Management (BVI) Limited,

495-604: Is a Hong Kong business executive. She is the CEO of Rosewood Hotel Group and the executive director of the New World Development . She is also the vice-chairman of Chow Tai Fook Jewellery Group . She was also appointed as an independent non-executive director of The Hongkong and Shanghai Banking Corporation and a director of Primavera Capital Acquisition Corporation . She is the daughter of Hong Kong property developer Henry Cheng and granddaughter of real estate and jewelry billionaire Cheng Yu-tung . Cheng

SECTION 10

#1732788039988

540-610: Is a Hong Kong–based company focused on property , hotels, infrastructure and services and department stores . It was established on 29 May 1970 by Cheng Yu-tung . The company is publicly listed on the Stock Exchange of Hong Kong Limited (SEHK: 17) since 23 November 1972 and is a constituent stock of Hong Kong Hang Seng Index . Over the last four decades, the group has also actively participated in various businesses in Mainland China and established itself as one of

585-455: Is described as a journey that expands imagination beyond mere aesthetics, focusing on the creation of a modern living culture rooted in originality and bespoke craftsmanship. It encourages its staff to think creatively and develop unique ideas that enhance customer experiences. The five core elements are: These elements collectively aim to foster a culture that values human creativity, sustainability, and social responsibility. This position

630-407: Is one of the Hong Kong companies who have a large landbank . As at 31 December 2014, the group had a landbank of around 9.25 million sq ft, of which around 5.3 million sq ft was residential property . The group had a total of approximately 18.3 million sq ft of attributable agricultural land reserve pending for conversion. The Group's brand personality is defined by “The Artisanal Movement”, which

675-399: Is wholly owned by New World Development. The company also owned former listed company New World Hotels (Holdings) . Rosewood Hotel Group , an hotel management company, is a former subsidiary of NWD group. New World Development and sister listed company Chow Tai Fook Jewellery Group are both majority owned by privately owned Chow Tai Fook (Holding) . New World Development Company Limited

720-488: The Hong Kong Convention and Exhibition Centre , was also planned to be manage by New World Development group themselves, via New World Hotels International. In parallel with the acquisition of Ramada - Renaissance Hotels in 1989, New World Development had established its own team in hotel investment and management. In the 1990s, New World Development entered Mainland China market as hotel manager. In 1990,

765-533: The 2010s along with the rest of New World Centre ) that opened in the 1980s, Hotel Victoria in Shun Tak Centre (which the hotel became defunct, the building was refurnished as an office tower), as well as the listed real estate developer New World Development and its subsidiaries New World Hotels (Holdings) and New World Hotels International Limited. The latter was incorporated in 1983. In 1987, The Harbour View Hotel (now Renaissance Harbour View Hotel) in

810-590: The Civil Service Denise Yue Chung-yee , signed off on the approval for him to take up the job within three years of leaving, failing to take into account the appearance of conflict of interest resulting from the Hung Hom Peninsula affair. New World argued that they hired Leung in good faith, after the government had given clearance. New World announced in the early hours of 16 August that the parties had agreed to rescind

855-403: The K11 HK app, customers who spend with Visa can earn K Dollars automatically. The Hung Hom Peninsula was sold for a below-market land premium of HK$ 864 million to New World Development, who subsequently sold off half share to Sun Hung Kai Properties . In 2004, the consortium announced the demolition of these buildings to make way for luxury apartments, to be faced with huge popular outcry about

900-737: The Mayfair Hotel in Shanghai, became pentahotel Shanghai. According to China Daily , as of 2009, 8 hotels would be managed by New World Hotel Management and under New World brand. The hotels were located in Beijing, Shanghai (New World Mayfair Hotel Shanghai), Macau ( L'Arc Macau ), Dalian, Shenyang, Wuhan, Xi'an and Ho Chi Minh City respectively. A new slogan A New World of Difference was also announced. In 2011, New World Hotel Management (BVI) Limited (trading as New World Hospitality) acquired Rosewood Hotels & Resorts . The deal included

945-620: The Renaissance Hotels into two parallel subsidiaries: a hotel property holding company Hotel Property Investment (BVI) Limited and a hotel management company Renaissance Hotel Group N.V.. New World Hotels International Limited, another hotel management company of the NWD group, became a subsidiary of Renaissance Hotel Group instead. Renaissance Hotel Group became a listed company on the New York Stock Exchange on 27 September 1995. Renaissance Hotel Group also acquired

SECTION 20

#1732788039988

990-416: The acquisition of the managing rights of New World Millennium Hong Kong Hotel  [ zh ] by forming a joint venture with Millennium & Copthorne Hotels . The hotel was previously known as Hotel Nikko Hongkong. According to the press release, the hotel was owned by a joint venture of Chow Tai Fook [ sic ] and Millennium & Copthorne Hotels. On 10 June 2014, Rosewood Guangzhou

1035-585: The contract. The company has managed the Avenue of Stars for 11 years , and its contract is due to expire. It was announced that the Leisure and Cultural Services Department of the Hong Kong government would redevelop and expand the avenue jointly with the company. The Hong Kong government declared that the enhancement project would contain limited commercial appeal, and no luxury shops or high-end restaurants would be added. The walkway, very popular with tourists,

1080-546: The entire membership interests of Rosewood Hotels and Resorts, LLC and the related intellectual property rights, for US$ 229.5 million (approx. HK$ 1.79 billion). In April 2013, it was reported that four more pentahotels were planned to open in the Greater China area. In December 2013, New World Hotel Management (BVI) also acquired hotel management company Pentahotels (incorporated as Penta Hotel Holdings Limited and Penta Hotels Germany GmbH respectively) from

1125-675: The first "Smart Community" in a transitional housing complex. NWD signed Hong Kong's first "Project Cooperation Agreement regarding Northern Metropolis" in December 2023, to develop a commercial and residential project in the Northern Metropolis with CR Land. The head office is in the New World Tower  [ zh ] in Central, Hong Kong . New World Development owns listed companies NWS Holdings and New World Department Store China . New World China Land Limited

1170-636: The group managed 6 hotels in Mainland China, namely Jing-guang New World in Beijing, Yangtze New World in Shanghai, China Hotel in Guangzhou , Dragon Hotel in Hangzhou , Gui-shan Hotel in Guilin as well as New World Dynasty Hotel in Xi'an . Currently, the management contracts for those 6 hotels (except Jing-guang New World which was owned by NWD group) were no longer owned by NWD group. In 1995, NWD group split

1215-400: The group revealed plans to conserve Hong Kong’s 68-year-old State Theatre, a Grade I historic site, partnering with local and international designers and artisans. In that month, the group began selling THE PAVILIA FARM I, attracting 22,700 registrations in the first round, the highest for any residential property in Hong Kong since 1997. The group also committed over HKD 10 billion to create

1260-486: The hotel management company would occupied some floor area of Victoria Dockside for their Rosewood Hong Kong hotel. The hotel was designed by Tony Chi and was opened in March 2019. In 2017, New World Development sold New World Hotel Shanghai, pentahotel Shanghai and the nearby Shanghai Ramada Plaza to the vice-chairman of New World Development, William Doo Wai-hoi, for RMB 1.85 billion (approx. HK$ 2.2 billion at that time). According to NWD group, William Doo also

1305-601: The hotel management unit Rosewood Hotel Group to the parent company Chow Tai Fook Enterprises, as of March 2019, New World Development still owned 16 hotels, including Rosewood Hotel Group's Rosewood Phuket, Rosewood Hong Kong, Rosewood Beijing, pentahotel Hong Kong, pentahotel Beijing, New World Shunde, New World Wuhan, New World Beijing, New World Makati, New World Saigon and 6 other hotels that were under other hotel management companies (2 Renaissance , 3 Hyatt and 1 Novotel ). Sonia Cheng Sonia Cheng Chi-Man ( traditional Chinese : 鄭志雯; simplified Chinese : 郑志雯)

1350-671: The largest foreign direct investors in the country. The group's existing investments in Mainland China has exceeded US$ 16.5 billion, spreading across four municipalities and over 19 provinces. New World Development was founded on May 29, 1970,  with Dr. Ho Sin Hang as chairman and Cheng Yu-tung as Director and General Manager. The group went public on the Stock Exchange of Hong Kong Limited (SEHK) (SEHK: 17) in 1972. To bring together infrastructure projects in Hong Kong and Mainland China, New World Infrastructure Limited (NWI)

1395-471: The local district council had been favourable. In an apparent attempt to de-fuse the public furore at the apparent collusion between government and big business, the government promised a public consultation. Chubby Hearts HK$ 7.8 million was granted by the Hong Kong Mega Arts and Cultural Events Committee to host in February 2024 Chubby Hearts by British designer Anya Hindmarch , who has

Rosewood Hotel Group - Misplaced Pages Continue

1440-452: The minority interest of New World Hotels International from several people that connected to NWD group, such NWD directors Stewart Leung Chi-kin, Chan Kam-ling, as well as William Doo Wai-hoi, son-in-law of the patriarch of NWD group, Cheng Yu-tung . The hotel management company Renaissance Hotel Group was sold in April 1997, for US$ 491 million (approx. HK$ 3.8 billion). The Hong Kong incorporated New World Hotels International Limited

1485-453: The needless destruction of "perfectly good buildings" to satisfy "corporate greed". In an unprecedented about-turn, the developers withdrew the plan on 10 December 2004. In 2008, New World was the subject of controversy when it announced it had hired former Permanent Secretary for Housing, Planning and Lands Leung Chin-man as deputy managing director and executive director of its China subsidiary, New World China Land Ltd. The Secretary for

1530-651: The press release, the price was 1.5% more than the fair value of the net assets (equity), plus the to-be-acquired shareholder loan to Rosewood Hotel Group. The book value of the company's equity was negative. Soon after, New World China Land was privatized by New World Development in 2016. According to 2015 press release, Chow Tai Fook Enterprises and New World China Land signed a master hotel leasing agreement, which Chow Tai Fook Enterprises continued to lease hotels from New World China Land until 2025, and renewable to 2035. In November 2016, Rosewood Hong Kong partnered with sister company New World Development again, which

1575-687: The same Chinese name 巴黎春天 ; 'Paris spring' with department stores of sister company New World Department Store China ) and New World Hotel in Shenyang . A strategic alliance was also formed with Marriott International in 1997–98 financial year. The management contracts of the Courtyard hotels of the NWD group had expired in years 2010 to 2011. The Courtyard by Marriott Beijing became pentahotel Beijing in 2010–11 financial year, while New World Courtyard Hotel, Shunde became New World Hotel Shunde. Both hotels were managed by New World Hotel Management,

1620-420: The ultimate parent company of New World China Land, privately owned Chow Tai Fook Enterprises , for €13.536 million (approx. HK$ 144.8352 million). In 2013, the trading name of New World Hotel Management was also changed from New World Hospitality to Rosewood Hotel Group. Rosewood Hotel Group was the new trading name of New World Hotel Management since 2013. On 9 June 2014, New World Hotels announced

1665-534: Was acquired by New World China Land along with Beijing New World Property Management Limited for HK$ 1.404 million in August–November 2006. The stake of New World Hotel Management (BVI), that owned by NWCL, was increased to 70.5% since February 2008. It reached 100% in January 2009. It was reported that the minority shareholder was William Doo, Jr., son of William Doo Wai-hoi, vice-chairman of New World China Land. In January 2008, New World Hotel Management signed

1710-451: Was also renamed to Renaissance Hotels International Limited in 2005 and RHIL Limited in 2007. Despite NWD group parted away from Renaissance Hotels, 2 out of 4 hotels of New World China Land (a sub-holding listed company of New World Development) in mainland China, were still managed by Renaissance's buyer Marriott International , under Courtyard brand as of 2003–04 financial year. The other two hotels were Mayfair Hotel in Shanghai (it shared

1755-766: Was announced. It was scheduled to open in Guangzhou CTF Finance Centre in 2019. On 24 June 2014, New World Hotel Management and NWH Management Philippines, signed a contract with International Entertainment Corporation for managing a hotel in Metro Manila , the Philippines. The hotel, as of 2018, was known as AG New World Manila Bay Hotel. In July 2015, New World China Land sold New World Hotel Management (BVI) and its subsidiaries, to New World China Land's indirect parent company Chow Tai Fook Enterprises , for HK$ 1.96 billion. According to

1800-585: Was born in 1980. She is the second child of Henry Cheng . The executive Adrian Cheng is her brother. She studied at St. Pauls’ Co-educational College in Hong Kong and Taft School in the United States. She holds a Bachelor of Arts from Harvard University . Cheng joined Morgan Stanley and Warburg Pincus working in their U.S. and Hong Kong offices. In 2008, she joined New World Group and became chief executive of Rosewood Hotel Group . Cheng joined Chow Tai Fook Jewellery Group in April 2019 as

1845-469: Was closed off for three years while the expansion was undertaken. The decision to award the contract for the redevelopment to the company without putting it out to tender, on the justification that the project was non-profit, sparked controversy locally. Residents' groups and other development companies owning properties adjacent to the walk expressed discontent, whilst the LCSD claimed that consultations with

Rosewood Hotel Group - Misplaced Pages Continue

1890-576: Was created and listed on SEHK (SEHK: 301) in October 1995. New World Services Limited (NWS) was then formed in April 1997 to integrate the group's service-related businesses. By July 1999, New World China Land Limited (NWCL) was launched to consolidate the group’s property projects in Mainland China and was listed on SEHK (SEHK: 917). In September 2001, NWS purchased all outstanding shares of Ngo Kee Construction Company Limited. A year later, Pacific Ports Company Limited (PPC) acquired NWI and took ownership of NWS from NWD. Reorganization of New World Group

1935-575: Was finalized in January 2003. Following a name change from Pacific Ports Company Limited, NWS Holdings Limited emerged as the group's service flagship, overseeing operations in services, infrastructure, and ports across Hong Kong, Macau, and Mainland China. All group shares were consolidated under NWS Holdings Limited, which then commenced trading on SEHK. New World Department Store China Limited (SEHK: 0825) went public on SEHK in July 2007.  The Guangzhou Dongxin Expressway—in which NWS Holdings owned

1980-475: Was formerly known as Managing Director (until 2012) and General Manager (until 2020) The New World CLUB is a loyalty program operated by the New World Group that offers members benefit such as exclusive discounts and events. There are currently 3 membership tiers. The K Dollar Program is a loyalty initiative developed in collaboration between New World Development, K11, and Chow Tai Fook. By becoming

2025-678: Was listed on the International Hospitality Institute Global 100: 100 Most Powerful People in Global Hospitality in 2022. She was on Fortune's 40 under 40 in 2018 Cheng was also on Asia's 50 Power Businesswomen in 2015 & 2016 Cheng has been involved in the New World Development and Chow Tai Fook charity projects in Hong Kong and mainland China. She is married to Paulo Pong Kin-Yee and has four children. New World Development New World Development Company Limited (NWD),

#987012