Huazhu Group Inks License Agreement With Porsche Design For New Hotel Brand

  • Huazhu Group Ltd’s HTHT subsidiary Steigenberger Hotels AG has signed a license agreement with Porsche Lizenz- und Handelsgesellschaft mbH & Co. KG (Porsche Design) to jointly develop a new hotel brand.
  • The joint hotel brand will be called Steigenberger Porsche Design Hotels and  positioned as a luxury lifestyle brand.
  • This hotel brand is expected to be launched in selected international metropolises.
  • As of March 31, 2021, Huazhu Group operated 6,881 hotels with 662,512 rooms in 16 countries.
  • Price action: HTHT shares are trading lower by 1.45% at $49.76 on the last check Friday.
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