Chinese hotel operator Huazhu to buy Germany's Deutsche Hospitality for $781 million

(Reuters) - Chinese hotel operator Huazhu Group Ltd said on Monday it had agreed to acquire Frankfurt-based hotel company Deutsche Hospitality for 700 million euros ($781 million/£604 million) in cash.Deutsche Hospitality operates nearly 150 hotels in 20 countries and includes brands like the Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, the IntercityHotels and the Zleep Hotels, according to its website. Huazhu, based in China and listed in New York, operates hotels..