June 2, 2018 / 9:38 AM / 2 years ago

Spain's Barcelo considering offer for HNA's stake in NH Hotel Group: media

FILE PHOTO: A HNA Group logo is seen on the building of HNA Plaza in Beijing, China February 9, 2018. REUTERS/Jason Lee/File Photo

MADRID (Reuters) - Spanish hotel company Grupo Barcelo is considering making an offer for HNA Group’s 670 million euro ($781 million) stake in NH Hotel Group SA, newspaper Expansion and Bloomberg reported on Saturday, citing unidentified sources.

China’s HNA had in January hired banks to look for buyers of its nearly 30 percent share in NH Hotel Group.

Spain’s hotel industry is booming and investment in the sector reached a record 3.9 billion euros in 2017, according to property consultant Irea.

HNA has said it has received a number of informal expressions of interest from a relatively broad group of investors for its stake.

On Thursday, the Taiwanese company Minor, NH Hotel Group’s third-biggest shareholder, said it was considering submitting a bid for HNA’s stake.

Reporting By Jesús Aguado; editing by Ingrid Melander

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