Huazhu Group Limited Announces Acquisition of Blossom Hill Hotels & Resorts
(WorldNews Entertainment)

SHANGHAI, China, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Huazhu Group Limited (NASDAQ:HTHT) (`Huazhu` or the `Company`), a leading and fast-growing multi-brand hotel group in China, today announced that its wholly-owned subsidiary Huazhu Hotel Management Co., Ltd. has entered into share transfer agreements with Beijing Tsingpu Travel Culture Development Co., Ltd. and Suzhou Tiancheng Jiaqi Tourism Industry Investment LLP, two shareholders of Blossom Hill Hotel Investment Management (Kunshan) Co., Ltd. (`Blossom Hill`), to acquire 71.2% of outstanding shares of Blossom Hill for a total consideration of approximately RMB462.9 million in cash (the `Acquisition`). The Acquisition is subject to...