China Lodging Group Enters Into Definitive Agreement to Acquire Crystal Orange Hotels

SHANGHAI, China, Feb. 27, 2017 (hospitalitybusinessnews.com) — China Lodging Group, Limited , a leading hotel chain operator in China, today announced that its wholly-owned subsidiary China Lodging Holdings (HK) Limited has entered into a definitive share purchase agreement with the shareholders of Crystal Orange Hotel Holdings Limited  to acquire all of the equity interests of Crystal Orange for an initial aggregate consideration in cash of approximately RMB 3.65 billion, with customary post-closing adjustments. The closing of the Transaction is subject to the approval from the Antitrust Bureau of Ministry of Commerce of China.

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