China’s HNA Group Buys 15% of Red Lion Hotels From Seattle Firm
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HNA Group, the Chinese parent of Hainan Airlines, acquired a 15 percent stake in Red Lion Hotels Corp. from a Seattle-based investment fund to expand in North American lodging brands and properties.
A unit of HNA bought 2.99 million common shares of Red Lion from a fund run by Columbia Pacific Advisors, according to a statement Tuesday. Columbia Pacific now holds 12.6 percent of Red Lion, according to the statement.