SHANGHAI, China, July 05, 2018 (GLOBE NEWSWIRE) -- Huazhu Group Limited (NASDAQ:HTHT) (the “Company” or “Huazhu”), a leading and fast-growing multi-brand hotel group in China, today announced that Ms. Jenny Zhang, Huazhu’s CEO, has been appointed as Advisory Board member (censeur) of AccorHotels’ Board of Directors, effective June 26, 2018.
“I am delighted to join AccorHotels’ Board of Directors on behalf of Huazhu Group,” commented Ms. Zhang. “Since our strategic alliance in 2016, Huazhu and AccorHotels have been working closely and generated remarkable results for the shareholders of both companies. With our recent investment and directorship in AccorHotels, we will further strengthen our cooperation in more aspects.”
Sebastien Bazin, Chairman and CEO of AccorHotels, commented: “We welcome Huazhu and Jenny at our Board of Directors. Our partnership has been delivering strong results over the past couple of years; this new step highlights our mutual commitment to our partnership. China is a key priority for AccorHotels globally, both in terms of network development and attracting the fast growing Chinese travelers to our hotels worldwide. Jenny and Huazhu’s wealth of expertise in this market will be of great value to AccorHotels.”
About Huazhu Group Limited
Huazhu Group Limited is a leading hotel operator and franchisor in China. As of March 31, 2018, the Company had 3,817 hotels or 384,959 rooms in operation. With a primary focus on economy and midscale hotel segments, Huazhu’s brands include Hi Inn, HanTing Hotel, Elan Hotel, HanTing Premium Hotel, JI Hotel, Starway Hotel, Joya Hotel, Crystal Orange Hotel, Orange Hotel Select, Orange Hotel and Manxin Hotel. The Company also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in Pan-China region.
The Company's business includes leased and owned, manachised and franchised models. Under the lease and ownership model, the Company directly operates hotels typically located on leased or owned properties. Under the manachise model, the Company manages manachised hotels through the on-site hotel managers it appoints and collects fees from franchisees. Under the franchise model, the Company provides training, reservation and support services to the franchised hotels and collects fees from franchisees but does not appoint on-site hotel managers. The Company applies a consistent standard and platform across all of its hotels. As of March 31, 2018, Huazhu Group operates 22 percent of its hotel rooms under lease and ownership model, 78 percent under manachise and franchise models.
For more information, please visit the Company’s website: http://ir.huazhu.com.
Contact Information
Investor Relations
Tel: +86 (21) 6195 9561
Email: ir@huazhu.com
http://ir.huazhu.com
Source: Huazhu Group Limited
