Huazhu Group to acquire Deutsche Hospitality for €700m.

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.