HNA Group buys 8.3 percent equity stake in NH Hotel Group of Spain

The HNA Group, parent company of Chinese carrier Hainan Airlines, on Tuesday acquired an additional 8.3 percent equity stake in Spanish hotel management company NH Hotel Group from Intesa San Paolo, an Italian bank.

With this the Chinese company now holds a 29.5 percent equity stake in NH Hotel, including the 20 percent it acquired in April 2013.

In January, HNA Group increased its holding and became the largest shareholder of NH Hotel then.