Reports: Dallas’ Mansion, Crescent Hotels Are Sold

A Hong Kong company has snapped up Dallas’ iconic Rosewood Mansion on Turtle Creek and Rosewood Crescent hotels, reports say. In all, the $570 million acquisition by the family of Hong Kong billionaire Cheng Yu-tung includes five properties that had been owned by Maritz, Wolff & Co. and Rosewood Corp.

The other hotels in the reported deal are in Santa Fe, N.M., the British Virgin Islands and (the Carlyle) in Manhattan. In June, a unit of Cheng’s New World Development Co. agreed to pay Maritz Wolff and Rosewood Corp. $229.5 million for Dallas-based Rosewood Hotels & Resorts, which manages a portfolio of luxury properties. Rosewood’s been asked for comment, but so far nobody’s gotten back.

UPDATE: A spokesman for The Mansion has now confirmed the sale reported above, but without disclosing a purchase price. The sale closed Friday afternoon. According to a “fact sheet” released this morning by Maritz Wolff, Rosewood Hotels & Resorts will continue to manage the five sold properties: the Crescent and Mansion here in Dallas, the Rosewood Inn of the Anasazi in Santa Fe, The Carlyle, A Rosewood Hotel in New York and the Rosewood Little Dix Bay in Virgin Gorda, British Virgin Islands.

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