Huazhu Group has announced it has acquired Deutsche Hospitality through its subsidiary China Lodging Holding Singapore.

Based in Frankfurt, Germany, Deutsche Hospitality's portfolio includes the five prestigious hotel brands Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, IntercityHotel and Zleep Hotels.

Huazhu has more than 5,000 hotels in over 400 cities, and opertates 18 brands across market segments covering economy to upscale and servicing the needs of business and leisure travelers.

Huazhu is also the ninth largest hotel company in the world by room count and the fifth largest by market capitalization.

The shareholding of the Joint Venture SME Ltd. (Steigenberger Middle East) shall remain unchanged and will continue to operate and expand the Deutsche Hospitality brands with its current partner.

Qi JI, Founder and Executive Chairman of Huazhu Group, described the acquisition as an important milestone in the group's global growth strategy.

"Deutsche Hospitality is a perfect strategic fit and we expect competitive advantages for both companies," he said.

"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 said it "shared the same values" as Huazhu.

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