NH Hotels Fears a Rival May Buy Chinese Investor HNA’s Stake
Photo Credit: NH Hotel Group's minority shareholder HNA Group wants to sell its stake in NH Hotels. NH Hotel Group
Skift Take
NH Hotels has been on a corporate rollercoaster ride over the past couple of years with HNA Group’s minority shareholding being the principle catalyst. Things have quieted down recently but harmony likely depends on the identity of the new investor.
NH Hotel Group doesn’t want a rival hotel company taking over HNA Group’s 29 percent stake in the company.
The Chinese conglomerate said in January it would explore the potential sale of its minority shareholding in the Spanish hotel group, and it looks like it has seen some interest.
“We have been monitoring the situation very closely and have been approached by several potential buyers for all or part of the stake,” Alfredo Fernandez Agras, co-chairman of NH told analysts on an earnings call Thursday.
Fernandez Agras said NH was waiting to hear "from investors that want to add value and are willing to participate in the evident consolidating industry trends," but that NH would not welcome “an industrial hotel operator as minority investor” because it would “constrain our future strategic options.”
Before HNA outlined its plans, rival Spanish hotel group Barcelo made an
