Announced
Financials
Tags
Friendly
Hotels and Motels
Pending
Acquisition
Private
Germany
luxury hotels management
Majority
Single Bidder
Synopsis
Huazhu Group, a hotel management company in China, offered to acquire Deutsche Hospitality, a German luxury hotel company, for €700m ($781m). “This acquisition is an important milestone in our global growth strategy. Deutsche Hospitality is a perfect strategic fit and we expect competitive advantages for both companies. The brands of Deutsche Hospitality will enhance the offering of Huazhu and its operating capabilities in the high-end European hotel market,” Qi Ji, Huazhu Group Founder and Executive Chairman.
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