Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter.
“Rosewood has delivered exceptional results in recent years and is one of the family’s most cherished luxury hotel brands,” a source said.
The group’s properties were operating as usual, with strategic investments in nearly 30…