Huazhu Group acquires Deutsche Hospitality for €700m

China-based hotel operator and franchisor Huazhu Group, through its wholly owned subsidiary China Lodging Holding Singapore, has entered into a share purchase agreement to acquire all shares in Germany-based Steigenberger Hotels Aktiengesellschaft (also known as Deutsche Hospitality) for €700 million ($781 million).

Deutsche Hospitality operates 118 hotels and has 36 hotels under development in 19 countries in Europe, the Middle East and Africa. Deutsche Hospitality brings together five separate hotel brands under a single umbrella. Steigenberger Hotels & Resorts has 60 hotels housed in historic traditional buildings and lively city residences and offers health and beauty oases set at the very heart of nature. MAXX by Steigenberger is a new and charismatic concept, which places the focus on the essential in accordance with its motto “MAXXimize your stay.” Jaz in the City–branded hotels reflect metropolitan lifestyle and draw upon the local music and cultural scene