China Lodging Group To Acquire Carlyle-Backed Orange Crystal For $531M

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Chinese hotel operator China Lodging Group Ltd. has agreed to acquire smaller rival Crystal Orange Hotels Group for RMB3.65 billion (US$531 million) from an investor group led by U.S. private equity giant the Carlyle Group, in a move that further pushes the country’s hospitality sectors to consolidate.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.