HNA Acquires Stake in NH Hotels for $616M | globest.com

China’s locally based HNA Group, the parent company of Shanghai-listed Hainan Airlines, has acquired a 20% stake in Spain’s NH Hotels for $616 million and the two firms plan a strategic alliance to develop a four-star hotel chain in China. NH Hotels shares climbed 12% to close at $8.40 per share following the announcement on Tuesday.