Huazhu Group, a multi-brand hotel group has reached an agreement to acquire all shares of Deutsche Hospitality, through its owned subsidiary China Lodging Holding Singapore.
Deutsche Hospitality is based in Frankfurt, Germany and its varied portfolio includes the five brands - Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, IntercityHotel and Zleep Hotels.
In 2019, Deutsche Hospitality announced a worldwide expansion plan to reach 250 hotels by 2024.
Huazhu Group’s founder and executive chairman, Qi Ji said: “Huazhu has enormous respect and admiration particularly for the prestigious Steigenberger brand. The legendary brand has a tradition for almost 90 years of providing a perfect balance of tradition and modernity to guests from all over the world. The legacy created by a highly respected German family and preserved and enhanced by the current owner and the exceptional management team is at the heart of the appeal of Deutsche Hospitality. Huazhu is committed to fully respecting and embracing the heritage of the company, and working closely with the company’s associates, owners and business partners in helping to write the next chapter.”He added: “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.”
The executive board of Deutsche Hospitality commented: “Huazhu is one of the fastest growing hotel companies in the world. We share the same values as Huazhu. We are both truly passionate about offering a high-quality experience to our customers, hence we are constantly aiming for improving our offering and services and innovating our operations. Both Huazhu and Deutsche Hospitality have strong and recognised brands, which we will maintain, while further accelerating their growth.”