Hong Kong's Cheng family explores partial sale of Rosewood Hotel Group assets: Bloomberg

Hong Kong tycoon Henry Cheng Kar-shun is reportedly exploring a partial sale of assets within its luxury Rosewood Hotel Group, according to Bloomberg.

Representatives for Cheng, patriarch of the family, have approached potential buyers to gauge interest in acquiring certain assets of the high-end hotel chain, the report said. Discussions are at a preliminary stage and details could change.

The Rosewood Hotel Group is managed by Cheng's daughter, Sonia Cheng Chi-man, and is owned by the family's private investment arm, Chow Tai Fook Enterprises. The entity acquired the business's predecessor in 2015.

Under her leadership since the family purchased the US brand in the early 2010s, Rosewood has grown into a prominent name in the luxury hospitality sector.

The group currently operates 58 properties worldwide, according to its website.