AccorHotels and Huazhu finalize their strategic alliance
AccorHotels 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.
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.