<article>Chinese hotel chain <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Lodging+Group" target="_blank">China Lodging Group</a> will buy <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Crystal+Orange+Hotel+Holdings" target="_blank">Crystal Orange Hotel Holdings</a>, a Carlyle Group-backed company in China, for RMB 3.65 billion ($531 million) in cash.</article>

Chinese hotel chain <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Lodging+Group" target="_blank">China Lodging Group</a> will buy <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Crystal+Orange+Hotel+Holdings" target="_blank">Crystal Orange Hotel Holdings</a>, a Carlyle Group-backed company in China, for RMB 3.65 billion ($531 million) in cash.
According to a press note on China Lodging Group website, it will acquire the company through its wholly-owned subsidiary China Lodging Holdings (HK) Ltd and the deal is subject to the approval from the Antitrust Bureau of Ministry of Commerce of China.
Crystal Orange, a leading boutique hotel operator in China, was founded in 2006. The Beijing-headquartered company operates more than 100 hotels located primarily in tier 1 and tier 2 cities and operates under the brand names Crystal Orange Hotel, Orange Hotel Select and Orange Hotel.
Hotels chain operator China Lodging Group, primarily focus on economy and midscale hotel segments and operates under the brands like Hi Inn, HanTing Hotel, Elan Hotel, JI Hotel, Starway Hotel, Joya Hotel, and Manxin Hotels &amp; Resorts. As of December 31, 2016, it had 3,269 hotels and 331,347 rooms in operation in 367 cities.
The company&#8217;s business includes leased, manachised and franchised models. Under the lease model, the company directly operates hotels typically located on leased properties, under the manachise model, it manages manachised hotels through the on-site hotel managers it appoints and collects fees from franchisees and under the franchise model, the company provides training, reservation and support services to the franchised hotels and collects fees from franchisees but does not appoint on-site hotel managers.
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China Lodging Group will buy Crystal Orange Hotel Holdings, a Carlyle Group-backed company in China, for RMB 3.65 billion ($531 million) in cash.

China Lodging Group to acquire Carlyle-backed Crystal Orange Hotel for $531m

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China Lodging Group to acquire Carlyle-backed Crystal Orange Hotel for $531m

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