Chinese firm buys Germany’s Steigenberger hotels

Chinese hotelier Huazhu Group on Monday agreed to buy the parent company of Germany’s Steigenberger hotels for around 700 million euros (US$780 million), widening its global reach, both companies said. The all-cash deal sees one of China’s biggest hoteliers acquire Deutsche Hospitality through its wholly-owned subsidiary China Lodging Holding Singapore. Deutsche Hospitality owns five hotel […]