AccorHotels and Huazhu Finalize Their Strategic Alliance
January 28, 2016 1:33pm
28 January 2016 - AccorHotels (CAC 40 – AC.FR) and Huazhu Hotels Group (also known as China Lodging Group –Nasdaq: HTHT) are pleased to have sealed their extensive, long-term alliance, initially announced to the market on 14th December 2014. Under the arrangement, AccorHotels takes a 10,8% stake in Huazhu and a seat at the Chinese group’s board of directors. Huazhu will take a non-controlling stake of 29.3% and two board seats in AccorHotels’ Luxury and Upscale operating platform for Greater China.
This unprecedented partnership creates a hospitality giant in China whose strength lies in a newly formed joint distribution system and the combination of two ambitious loyalty programs which together boast over 75 million members worldwide. This strategic alliance will also enable the Group to accelerate the development of Grand Mercure, Novotel, Mercure, ibis and ibis Styles brands in China, Taiwan and Mongolia, with 350 to 400 hotels due to open over the next five years.
huazhu hotels group,
china lodging group
AccorHotels is a Group united by a shared passion for hospitality and driven by a shared promise to make everyone Feel Welcome.
Over 180,000 women and men in 3,700 AccorHotels establishments look after thousands of guests every day in 92 countries.
AccorHotels is the world's leading hotel operator and offers its customers, partners and employees:
Accor SA shares are listed on the Euronext Paris exchange (ISIN code: FR0000120404) and traded in the USA on the OTC marketplace (Code: ACRFY)
Contact: Delphine Dumonceau
+33 (0)1 45 38 84 95
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