China Lodging signs loan agreement for Deutsche Hospitality acquisition

Chicago, Jan. 2 – China Lodging Holdings (HK) Ltd., a subsidiary of Huazhu Group Ltd., obtained a term loan of €440 million and a revolving credit facility of $500 million in connection with the acquisition of Steigenberger Hotels Aktiengesellschaft, Germany, according to a company notice.

The facilities have a term of three years.

JPMorgan Chase Bank, NA, Hong Kong Branch, Deutsche Bank AG, Singapore Branch and Morgan Stanley Senior Funding, Inc. led the bank consortium.

Proceeds will be used, among other things, for general corporate purposes and working capital purposes for the company and its subsidiaries.

Huazhu Group Ltd. is a hotel operator and franchisor based in Shanghai. It was previously known as China Lodging Group Ltd.

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