Chinese hotel operator buys Deutsche Hospitality

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Chinese hotel operator Huazhu Group is acquiring Frankfurt-based hotel company Deutsche Hospitality for €700m (US$781m) in cash.

Huazhu, based in China and listed in New York, operates hotels on leased properties. The new acquisition will add to its more than 5,000 hotels.

Deutsche Hospitality operates nearly 150 hotels in 20 countries and includes brands like the Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, the IntercityHotels and the Zleep Hotels.

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