Grupo Barcelo is considering taking another run at HNA Group’s US$780 million stake in NH Hotel Group, sources told Bloomberg.
The Spanish company got a rejection in January from NH Hotel for China-based HNA Group’s 30% stake in the company. It may face some competition from Thailand’s Minor International, which acquired 30 million shares of Madrid-based NH; it now has an 8.6% stake and said it is the second-largest shareholder in the company. Minor said on May 31 that it plans to submit an offer for HNA’s stake but has not made a final decision on it.
NH has a portfolio of 382 hotels and resorts with 59,350 keys spanning 30 countries in Europe, the Americas and Africa.
There’s no certainty Barcelo will proceed with an offer, according to Bloomberg.