HNA's Spanish Hotelier Stake Attracts Elliott, Apollo Interest
- Offers for nearly 30% NH Hotel stake due as soon as this week
- Chinese conglomerate gauges interest amid divestment drive
A hotel guest sits and reads a newspaper in the lobby at the NH Constanza hotel, operated by NH Hoteles SA in Barcelona, Spain.
Photographer: David Ramos/Bloomberg
HNA Group Co.’s stake in Spanish hospitality provider NH Hotel Group SA has attracted interest from potential bidders including Elliott Management Corp. and Apollo Global Management LLC, people with knowledge of the matter said.
The Chinese conglomerate’s nearly 30 percent holding in NH Hotel has also drawn interest from other funds and companies in the industry, according to the people, who asked not to be identified because the information is private. Bids are due as soon as this week, though the deadline could still be pushed back, the people said. HNA’s stake is valued at about 657 million euros ($758 million) based on Tuesday’s close, data compiled by Bloomberg show.