Madrid in Spain. China’s HNA Group, whose assets include a quarter of Hilton Worldwide Holdings, owns about 30 per cent of Madrid-based NH Hotel Group. Photo: Corbis

Time for HNA to check out of Spanish hotel after getting kicked off its board?

Proceeds from the sale could ease Chinese conglomerate’s refinancing pressure. After US$40b of purchases since the start of 2016, interest expenses have bloated to US$2.4b, exceeding earnings before interest and taxes

Topic |   International Property

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Madrid in Spain. China’s HNA Group, whose assets include a quarter of Hilton Worldwide Holdings, owns about 30 per cent of Madrid-based NH Hotel Group. Photo: Corbis
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