Property News · November 3, 2017

HNA may check out of this Spanish hotel after getting kicked out


HNA Group’s precarious grip on a US$2.2 billion Spanish hotel company is in doubt as a mountain of debt comes due and China puts the squeeze on its most prolific acquirers.
The Chinese conglomerate, whose assets include a quarter of Hilton Worldwide Holdings, owns about 30 per cent of Madrid-based NH Hotel Group SA. But HNA is in Spanish limbo: its directors have been booted off the board in a shareholder revolt, while Beijing’s crackdown on overseas deals would obstruct any buyout…

Source : South China Morning Post
Read more…HNA may check out of this Spanish hotel after getting kicked out