HNA sells Radis­son

Travel Daily - - News -

CHINA’S HNA Group has se­cured the sale of its US-based Radis­son Ho­tel Group for a re­ported US$2 bil­lion.

Chi­nese me­dia say the group has been pur­chased by Jin Jiang In­ter­na­tional Ho­lid­ings ( TD 06 Aug), which is al­ready one of the world’s largest hote­liers and holds a 12.3% stake in Ac­cor.

HNA is a part owner of Vir­gin Aus­tralia and has been of­fload­ing non-air­line as­sets as part of a ma­jor debt re­duc­tion strat­egy.

It has al­ready sold stakes in the Hil­ton and NH ho­tel groups this year, along with prop­erty de­vel­op­ments in Syd­ney, Lon­don and Hong Kong.

Ranked the 11th largest ho­tel group in the world, the Min­neapo­lis-based Radis­son Ho­tel Group is made up of eight ho­tel brands with more than 1,400 prop­er­ties in op­er­a­tion and un­der devel­op­ment.

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