Hong Kong Tycoon Cheng Seeks Sale of Some Rosewood Hotels

Hong Kong tycoon Henry Cheng is seeking buyers for properties in the family’s luxury Rosewood Hotel Group as the billionaire clan races to overcome liquidity challenges connected to its real estate unit New World Development Co.

Cheng’s representatives have approached some companies for a possible sale of assets in the Rosewood portfolio, according to people familiar with the matter. The discussions were preliminary and could be subject to change, the people said.