Sonia Cheng, scion of Hong Kong’s New World billionaire family, is steering the Rosewood hotel brand to new heights
Since its acquisition by the Cheng family’s New World Hospitality, the Rosewood brand has been on the up and up. Sonia Cheng, CEO of Rosewood Hotel Group and granddaughter of late tycoon Cheng Yu-tung, reflects on the journey.
When the inaugural World’s 50 Best Hotels ranking was revealed in September 2023, three Rosewood properties, each located in a different continent, featured on the list. Taking the number two spot and earning the distinction of “The Best Hotel in Asia” was Rosewood Hong Kong. Rosewood Sao Paulo ranked at number 27, while Hotel de Crillon in Paris rounded up the list at number 50.
The achievement is “a huge recognition to the team and all the effort they have put into the brand,” reflected Sonia Cheng, CEO of Rosewood Hotel Group. “For three of our properties to be recognised, and for Rosewood Hong Kong to be number two in the world, that is a significant recognition.”
Cheng, 43, hails from one of Hong Kong’s billionaire family dynasties. Her grandfather, the late Cheng Yu-tung, founded real estate and investment conglomerate, New World Development. The elder Cheng’s rags-to-riches story began when he turned a Macau gold shop into the now renowned Chow Tai Fook Jewellery chain. His son, and Cheng’s father, Henry Cheng, is now chairman of the businesses.
After pursuing a career in banking and finance, Cheng, who graduated from Harvard with a major in applied mathematics, joined the family fold at the age of 28 to head up its hospitality business. In 2011, New World Hospitality acquired Rosewood Hotels & Resorts, then based in Texas, US, for a reported US$229.5 million. Back then, while the Rosewood name was familiar among North American travellers, it was not well-known on an international scale.
Under Cheng’s leadership, Rosewood has since evolved into a global player in the luxury hospitality space, with openings in key cities including Beijing, London, Abu Dhabi, Munich and more. Its portfolio of 33 one-of-a-kind luxury hotels in 21 countries also includes legendary properties such as The Carlyle in New York, and the Hotel de Crillon in Paris, both of which have undergone a transformation under Rosewood.
There are currently another 27 hotels in the pipeline, with Cheng describing the next two years as Rosewood’s “peak opening years”, where it will continue to expand in Europe, Japan, the Middle East, China, Mexico, New Zealand and more. “The next couple of years is really exciting. Key gateway cities have always been our target, but we also explore new destinations and projects that we think fit the Rosewood philosophy. These projects may not be in gateway locations that travellers expect, but I think what travellers are looking for in this day and age is for Rosewood to take them on a journey to explore new destinations.”
