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

Chinese hotel chain 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.

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 & Resorts. As of December 31, 2016, it had 3,269 hotels and 331,347 rooms in operation in 367 cities.

The company’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.

Also Read:

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China’s Anbang close to completion of $6.5b acquisition of US-based Strategic Hotels

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.