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Chinese company places London hotel on the market

by Andrea Waitrovich

Chinese investment firm CTF Development, which is owned by Hong Kong’s Cheng family, has placed London's Roosewood Hotel on the market with a £450 million ($648 million) price tag — more than three times the £135 million ($194 million) the firm paid for the property in 2006.

The 262-room hotel joined the Rosewood Hotels & Resorts group in 2013, after undergoing a £85 million ($122 million) renovation program. Rosewood London, located on High Holborn, is being marketed by Eastdil Secured on an invitation-only basis. Built in 1914, the Grade II listed building was the headquarters of the Pearl Assurance Co., which occupied it until 1989. The property opened as a hotel in 2000 as the Renaissance Chancery Court, under the management of Marriott. It ended its association with Marriott in June 2011, and the formerly U.S.-owned Rosewood brand managed it until​ the Cheng family acquired it in 2011.

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