Rosewood Hotel Group is reportedly seeking to divest a number of its 58 properties worldwide due to liquidity challenges with the real estate arm of parent company Chow Tai Fook Enterprises, owned by the Cheng family.

According to Bloomberg, the Hong Kong-based hospitality firm, which is led by Sonia Cheng, has approached several companies with an opportunity to buy some of its hotels – although the talks are said to be in their very early stages. The liquidity issues are apparently associated with New World Development.

Chow Tai Fook Enterprises bought the former entity that owned Rosewood’s operations and its shareholder’s loan from a subsidiary, New World China Land, for HK$1.96 billion in 2015. Since then, it has gone from strength to strength under Cheng’s leadership.

Earlier this year, Rosewood Hong Kong, the company’s flagship overlooking Hong Kong harbour, won the top spot in the World’s 50 Best Hotels rankings . It was valued at HK$15.9 billion ($2 billion), according to a deck seen by Bloomberg for a debt swap plan proposed by New World.