New contender mulls possible bid for Radisson Hotel Group
HNA could earn at least US $2 billion (Dh7.34 billion) from the sale, reports suggest
Chinese hospitality provider Jin Jiang International Holdings Co. is considering bidding for Radisson Hotel Group, the global chain currently owned by HNA Group Co.
According to reports, HNA could earn at least US $2 billion (Dh7.34 billion) from the sale of Minneapolis-based Radisson.
The Chinese company has been selling off its assets to repay debts.
In June, Radisson commented on the possible sale of the company by HNA.
"While it has been widely reported that HNA has recently been exploring the sale of some of its assets, we are in a very strong place with our business and remain committed to our go-forward strategy," John Kidd, chief executive of Radisson’s operations in the Americas and Asia Pacific., said in a statement to Bloomberg.
"Any additional questions about a potential sale would need to be answered by HNA,” he added.
Radisson Hotel Group was acquired by HNA in 2016, when it was called Carlson Hotels. The Rezidor Hotel Group was recently renamed to Radisson Hospitality, following the rebrand of Carlson Rezidor Hotel Group to Radisson Hotel Group.