Accor has sold half of its 10 percent stake in Chinese hotel management company Huazhu Group Limited, formerly known as China Lodging Group, for $451 million, according to Accor. In addition to keeping about a 5 percent stake, Accor chairman and CEO Sebastien Bazin will remain on the Huazhu board of directors. The two companies formed their strategic alliance in January 2016. Accor noted that during this four-year period the value of its initial investment in Huazhu has increased by a multiple of about 4.5, adding that the relationship enabled the French hotel company to open about 200 economy and midscale hotels in China, mainly under the Ibis, Novotel and Mercure brands. And additional 250 properties in the pipeline are scheduled to open during the next three years. The sale comes about a month after Huazhu purchased Deutsche Hospitality, the German-based parent company of luxury hotel group Steigenberger, for 700 million euros, or about $781 million, according to a Reuters report.