The relative importance of the physical processes shaping the thermodynamics of the hot gas permeating rotating, massive early-type galaxies is expected to be different from that in non-rotating systems. Here, we report the results of the analysis of XMM-Newton data for the massive, lenticular galaxy NGC 7049. The galaxy harbours a dusty disc of cool gas and is surrounded by an extended hot X-ray emitting gaseous atmosphere with unusually high central entropy. The hot gas in the plane of rotation of the cool dusty disc has a multi-temperature structure, consistent with ongoing cooling. We conclude that the rotational support of the hot gas is likely capable of altering the multiphase condensation regardless of the $t_{rm cool}/t_{rm ff}$ ratio, which is here relatively high, $sim 40$. However, the measured ratio of cooling time and eddy turnover time around unity ($C$-ratio $approx 1$) implies significant condensation, and at the same time, the constrained ratio of rotational velocity and the velocity dispersion (turbulent Taylor number) ${rm Ta_t} > 1$ indicates that the condensing gas should follow non-radial orbits forming a disc instead of filaments. This is in agreement with hydrodynamical simulations of massive rotating galaxies predicting a similarly extended multiphase disc.