HNA Group now has a substantial equity stake in the company, which means HNA Group has become the largest shareholder of NH hotel group.

The reporter learned from HNA group that the group has acquired 8.3% equity of Spanish-based NH hotel group held by Intesa San Paolo. The delivery of transaction has been officially completed. The equity held by HNA group rose to 29.5%. HNA Group now has a substantial equity stake in the company, which means HNA Group has become the largest shareholder of NH hotel group.

In the insiders’ view, the deal will give HNA Group more of a voice about NH hotel group. NH Hotel Group is a Spanish-based hotel chain headquartered in Madrid. The group ranks third in the European ranking for business hotels and is also a large listed company of Spain. The group has 380 hotels with almost 60,000 rooms.

The hotel brands under HNA Group include Tang Grand Place, Tangla Hotels& Resorts, the Tang Hotel and Garden Lane. Most of these brands focus on high-end business hotels and resorts. NH Hotel Group can be a good complement to these brands. Song Xiang, President of HNA Hotel Group said, “We can build the hotels satisfying guests with combining international system of NH Hotel Group and local business vision of HNA Hospitality Group.” In addition, to accelerate the internationalization of HNA Hospitality Group, HNA Group is striving to develop the international business. (Translation by Ella)