Rosewood Hotel Georgia in Vancouver being sold

There has been a big development involving another luxury hotel in Vancouver.

A deal to sell the Rosewood Hotel Georgia to Hong Kong-based Magnificent Investments is in the works.

The price tag is about $145 million.

The deal is expected to be completed later this year.

The Rosewood Hotel Group will continue to manage the property and the owners say there will be no change in the day-to-day operations.