Latest news: Rosewood selling?; casinos closer in NY; two deals in Asheville

Rosewood sale? With Hong Kong-based New World Development Co.’s net debt reaching 98% of shareholder equity at the end of June, the owner of Rosewood luxury hotels (58 hotels) is reportedly looking to sell assets to better manage liquidity, according to a Bloomberg report. The owning Cheng family was looking for a partner to match a potential capital injection of about HK$10 billion, but talks have stalled, according to sources, who added that asset sale discussions were preliminary and could change.

Casinos closer in New York. The New York State Gaming Facility Location Board has voted in favor of all three remaining casino bids, Bally’s casino proposal in the Bronx and the Metropolitan Park (a joint bid led by Mets owner Steve Cohen and Hard Rock International) and Resorts World developments in Queens. The Gaming Commission is set to deliver a final verdict on the bids by the end of the month. The board has estimated that the three projects will generate $7 billion in gaming tax revenue between 2027 and 2036, alongside an additional $5.9 billion in other tax revenue, including hotel and sales taxes.

Milan acquires in Asheville. Asheville, North Carolina-based Milan Hotel Group has acquired the 88-key SpringHill Suites by Marriott Asheville (built in 2002) and the 78-key Courtyard by Marriott Asheville (built in 1996) in Asheville from an institutional seller for an undisclosed amount. Hunter Hotel Advisors facilitated the transaction.

NoMad Las Vegas rebrand. MGM Resorts International's NoMad Las Vegas will begin transitioning to The Reserve at Park MGM, with the full rebrand taking effect on December 17. The 293-key The Reserve at Park MGM will have several venues refreshed during the transition. The NoMad Pool will be renamed The Terrace Pool; NoMad Library will become The Library; and NoMad Bar will be called The Reserve Bar. In early 2026, the hotel will join Marriott Bonvoy’s Autograph Collection as part of MGM Resorts’ long-term strategic licensing partnership with Marriott.

Leonardo acquires 4 in Germany. Berlin-based Leonardo Hotels Central Europe is expanding its portfolio by taking over four IntercityHotels in Nuremberg, Freiburg, Magdeburg and Erfurt in Germany. These will initially operate under a white label banner while renovations are completed. The hotels will be rebranded as Leonardo Hotels in the second quarter of 2026. After these acquisitions, Leonardo will operate 73 hotels in Germany.

Accor adds in the Maldives. Accor has signed the 42-key V Villas Maldives at Mirihi to its MGallery Collection. The all-villa resort is scheduled to open in the Maldives by the beginning of 2026 on the secluded, natural island of Mirihi in the South Ari Atoll. The property, formerly known as Mirihi Island Resort, will undergo extensive renovations and expansions before reopening under the MGallery Collection flag.   

Hilton launches senior notes. Hilton Worldwide Holdings Inc., through its indirect subsidiary Hilton Domestic Operating Co. Inc., intends to offer $1 billion aggregate principal amount of the issuer’s senior notes due 2034. Hilton intends to use the net proceeds of the offering to redeem all $500 million in aggregate principal amount of its outstanding 5.75% senior notes due 2028 and the remainder for general corporate purposes.

Hotel101 adds in Milan. Singapore-based Hotel101 Global Holdings Corp. has launched a joint venture with definitive binding agreements signed for the development of an approximately 429-key Hotel101 in San Donato Milanese, Milan, Italy. This expansion is expected to be completed by 2028.

Ensana expands into Georgia. Prague-based Ensana Hotels is expanding into the Republic of Georgia, where it will take over the operation of the Sairme Resort complex next year. The New Sairme, Sairme Resort and Sairme Public Spa are currently undergoing renovations and extensions before reopening in the second quarter of 2026 under Ensana’s management. Ensana is continuing its expansion with its recently announced takeover of the Fürstenhof in Bad Griesbach, which is set to reopen in mid-2026 following renovations. Ensana is also opening a new health resort in Montegrotto Terme, Italy at the of 2026. The company is also building a resort in Al-Ahsa, Saudi Arabia.