We use Transient Rayleigh Scattering to study the thermalization of hot photoexcited carriers in single GaAsSb/InP nanowire heterostructures. By comparing the energy loss rate in single bare GaAsSb nanowires which do not show substantial hot carrier effects with the core-shell nanowires, we show that the presence of an InP shell substantially suppresses the LO phonon emission rate at low temperatures leading to strong hot carrier effects.