Cash-strapped Chinese conglomerate HNA Group has agreed to sell Radisson Holdings to a consortium led by hospitality group Jin Jiang International Holdings, according to a Radisson announcement late Thursday.
After the share purchase, the consortium would also acquire 100% of Radisson Holdings Inc for an undisclosed amount.
This year alone, HNA sold out of Hilton Worldwide Holdings and its spinoffs for a combined USD 8.5 billion, and began unloading its NH shares to a Thai group.
To be sure, HNA will still operate hotels under the Tang and Tangla brands, but they're mainly scattered across China, according to its website.
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