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Chinese Hotel Giant Eyes Foreign Deals Amid Global Weakness

  • Huazhu’s business has recovered while Marriott, Hilton slump
  • Co. raises nearly $800m in second listing in Hong Kong
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China’s biggest hotel operator is looking to acquire foreign hospitality chains as the rapid recovery of the country’s domestic travel market puts it at an advantage to ailing global peers.

While major hotel brands like Marriott International Inc. and Hilton Worldwide International Inc. remain hobbled by the halt in travel amid a resurgence of infections in Europe and the U.S., Shanghai-based Huazhu Group Ltd.’s business has bounced back to pre-pandemic levels. In the second quarter, Huazhu’s occupancy rate reached 69%, compared to Hilton’s 22% and Marriott’s 14%.