Huazhu Group Limited Announces License Agreement between Steigenberger and Porsche Design Group to Establish a Joint Hotel Br...
09 July 2021 - 9:00PM
Huazhu Group Limited (NASDAQ: HTHT and HKEX: 1179) (“Huazhu” or
“our”), a world-leading hotel group, announced that Steigenberger
Hotels AG, a wholly-owned subsidiary of Huazhu, and Porsche Lizenz-
und Handelsgesellschaft mbH & Co. KG (“Porsche Design Group”)
signed a license agreement to jointly develop a new unique and
exclusive hotel brand named Steigenberger Porsche Design Hotels.
This hotel brand will be positioned as a luxury lifestyle brand.
Steigenberger Porsche Design Hotels are expected to be launched in
selected international metropolises.
About Porsche Design Group In
1963, Professor Ferdinand Alexander Porsche created one of the most
iconic design objects in contemporary history: the Porsche 911.
Following his vision to take the principles and myth of Porsche
beyond the automotive world, he created the exclusive lifestyle
brand Porsche Design in 1972. His philosophy and design language
can still be seen in all Porsche Design products today. Every
Porsche Design product stands for extraordinary precision and
perfection, boasts a high level of technological innovation and
seamlessly combines intelligent functionality and puristic design.
Created by Studio F. A. Porsche in Austria, Porsche Design Group’s
products are sold worldwide in Porsche Design stores, high-end
department stores, exclusive specialist retailers and the official
online store www.porsche-design.com.
About Huazhu Originated in
China, Huazhu Group Limited is a world-leading hotel group. As of
March 31, 2021, Huazhu operated 6,881 hotels with 662,512
rooms in operation in 16 countries. Huazhu’s brands include Hi Inn,
Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel,
Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel,
Blossom House, and Ni Hao Hotel. Upon the completion of the
acquisition of DH on January 2, 2020, Huazhu added five brands
to its portfolio, including Steigenberger Hotels &
Resorts, MAXX by Steigenberger, Jaz in the
City, IntercityHotel and Zleep Hotels. In addition, Huazhu
also has the rights as master franchisee for Mercure, Ibis and
Ibis Styles, and co-development rights for Grand Mercure and
Novotel, in the pan-China region.
Huazhu’s business includes leased and owned,
manachised and franchised models. Under the lease and ownership
model, Huazhu directly operates hotels typically located on leased
or owned properties. Under the manachise model, Huazhu manages
manachised hotels through the on-site hotel managers that Huazhu
appoints, and Huazhu collects fees from franchisees. Under the
franchise model, Huazhu provides training, reservations and support
services to the franchised hotels, and collects fees from
franchisees but does not appoint on-site hotel managers. Huazhu
applies a consistent standard and platform across all of its
hotels. As of March 31, 2021, Huazhu operates 16 percent of
its hotel rooms under lease and ownership model, and 84 percent
under manachise and franchise models.
About Deutsche Hospitality/Steigenberger
Hotels AG (“DH”)Deutsche Hospitality brings together six
separate hotel brands under a single umbrella. Steigenberger Icons
with luxurious Grand Hotels which are characterised by their
uniqueness, their location, and their particular historical
background. Steigenberger Hotels & Resorts has 50 historic
traditional buildings and lively city residences and also offers
health and beauty oases set at the very heart of nature. MAXX by
Steigenberger is a new and charismatic concept which places the
focus on hotels housed in the essential in accordance with its
motto “MAXXimize your stay”. Jaz in the City branded hotels reflect
metropolitan lifestyle and draw upon the local music and cultural
scene. IntercityHotel offers 46 upper mid-range urban hotels, all
of which are located within easy walking distance of railway
stations or airports. And Zleep Hotels – a well-known and
successful hotel brand in Scandinavia which offer service and
design at a great rate for the many. The portfolio of Deutsche
Hospitality currently includes almost 160 hotels on three
continents 40 of which are in the pipeline.
For more information, please visit Huazhu’s
website: http://ir.huazhu.com.
Safe Harbor Statement Under the U.S. Private
Securities Litigation Reform Act of 1995: The information in this
release contains forward-looking statements which involve risks and
uncertainties. Such factors and risks include our anticipated
growth strategies; our future results of operations and financial
condition; economic conditions; the regulatory environment; our
ability to attract and retain customers and leverage our brands;
trends and competition in the lodging industry; the expected growth
of demand for lodging; and other factors and risks detailed in our
filings with the U.S. Securities and Exchange Commission. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements, which may be
identified by terminology such as “may,” “should,” “will,”
“expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,”
“predict,” “potential,” “forecast,” “project” or “continue,” the
negative of such terms or other comparable terminology. Readers
should not rely on forward-looking statements as predictions of
future events or results.Huazhu undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, unless required by
applicable law.
Contact InformationHuazhu Investor RelationsTel:
86 (21) 6195 9561Email: ir@huazhu.comhttp://ir.huazhu.com
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