HNA Group to sell hospitality unit
Hainan Airlines, the flagship carrier of HNA Group, will acquire HNA Hotel Group Holdings Limited and an unnamed overseas hotel operator, along with several aviation businesses, from HNA Group, according to a filing to the Shanghai Stock Exchange.
It did not give financial details of the transactions.
Separately, HNA is in talks to sell its 25 percent stake in the timeshare business Hilton Grand Vacations, according to multiple media outlets. The stake is estimated to be worth $1.2 billion.
HNA Group has been in a period of suspension of trading, which was announced Feb. 10, 2017.