{"id":592831,"date":"2019-11-07T04:11:03","date_gmt":"2019-11-07T04:11:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/travco-to-sell-deutsche-hospitality-group-to-chinas-huazhu-in-landmark-usd-781-mn-all-cash-transaction\/"},"modified":"2019-11-07T04:11:03","modified_gmt":"2019-11-07T04:11:03","slug":"travco-to-sell-deutsche-hospitality-group-to-chinas-huazhu-in-landmark-usd-781-mn-all-cash-transaction","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/travco-to-sell-deutsche-hospitality-group-to-chinas-huazhu-in-landmark-usd-781-mn-all-cash-transaction\/","title":{"rendered":"Travco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction"},"content":{"rendered":"

<\/a> M&A WATCH- Travco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction: <\/b>Hamed El Chiaty\u2019s Travco Group will sell its portfolio company, Steigenberger-owner Deutsche Hospitality<\/a>, to China\u2019s Huazhu Group in a EUR 719.2 mn cash transaction<\/a>, the German company announced in a statement<\/a> on Monday. The agreement was reached earlier this week and is likely to close in early 2020<\/a> following regulatory approval. The story is getting international ink in Reuters<\/a> and from travel industry bible Skift<\/a>.<\/p>\n

El Chiaty to retain ownership in Deutsche Hospitality JV: <\/b>\u00a0The statement said that the current ownership in the company\u2019s Middle East JV Steigenberger Middle East will \u201cremain unchanged.\u201d<\/p>\n

Ambitious targets:<\/b> Huazhu said that it will help the Frankfurt-based company attempt to more than double its hotels to 250 by 2024 from 118 currently, close to a dozen of which are in Egypt. Deutsche Hospitality\u2019s brands include Maxx by Steigenberger, Jaz in the City, IntercityHotels and Zleep. The Chinese buyer\u2019s CEO Jenny Zhang said the acquisition will not entail any job cuts.<\/p>\n

Background: <\/b>Travco acquired Deutsche Hospitality in 2009<\/a> at an undisclosed value.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Travco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction: Hamed El Chiaty\u2019s Travco Group will sell its portfolio company, Steigenberger-owner Deutsche Hospitality, to China\u2019s Huazhu Group in a EUR 719.2 mn cash transaction, the German company announced in a statement on Monday. The agreement was reached […]<\/p>\n","protected":false},"author":1,"featured_media":592832,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,955,7128,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-hospitality","tag-ma-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f367b98e-b72a-4024-b4ee-f4253731fa12","is_powered_by":true,"section_story_id":"91128f00-1c79-44f5-9ce5-89fe3eb6f779","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/11\/2687.jpg","photo_position":"above","related_issue":[592820],"teaser":"","voice_url":""},"yoast_head":"\nTravco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/travco-to-sell-deutsche-hospitality-group-to-chinas-huazhu-in-landmark-usd-781-mn-all-cash-transaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Travco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Travco to sell Deutsche Hospitality group to China\u2019s Huazhu in landmark USD 781 mn all-cash transaction: Hamed El Chiaty\u2019s Travco Group will sell its portfolio company, Steigenberger-owner Deutsche Hospitality, to China\u2019s Huazhu Group in a EUR 719.2 mn cash transaction, the German company announced in a statement on Monday. 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PLUS: Pickalbatros expands hotel portfolio across Morocco","author":"enterpriseam admin","date":"18 September 2024","format":false,"excerpt":"The hospitality player currently owns seven hotels across Morocco","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664897,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/08\/travcos-jaz-hotel-group-to-open-four-new-hotels-in-egypt-this-month\/","url_meta":{"origin":592831,"position":5},"title":"Travco\u2019s Jaz Hotel Group to open four new hotels in Egypt this month","author":"enterpriseam admin","date":"8 May 2025","format":false,"excerpt":"The new hotels will add 1.6k rooms to Jaz\u2019s portfolio","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/588.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=592831"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592831\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/592820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/592832"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=592831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=592831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=592831"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=592831"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=592831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}