China's HNA forms JV with Spain's NH Hotel Group

Beijing

In China, HNA Hospitality Group is forming a joint venture with European hotel chain NH Hotel Group. The move will see the creation of a joint office and Chinese brand name, Nuo Han.

NH Group also announced two new NH-branded hotels that will enter the China market before the end of the year.

NH China (Beijing NH Grand China Hotel Management Co.), the joint venture between NH Hotel Group and HNA Hospitality, is located in Tower A, HNA Plaza in the central business district of Chaoyang, Beijing, China. The establishment of this company follows the strategic MoU signed between NH and HNA as part of the bilateral trade summit between Spain and China.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

"The joint venture's corporate purpose is to build a portfolio of NH Hotels and NH Collection brand hotels in the midscale and upscale segments in China owned by HNA or by third parties with a target to develop 120 to 150 hotels by the year 2020. This business approach fits with NH Hotel Group's strategy of pursuing growth using capital-light formulas."

Read more on

Suggested Articles

The hospitality arm of Frasers Property Group is planning to grow its Malmaison and Capri by Fraser brands over the next three to five years.  

The hotel is kicking off a brand that is poised to grow across both Israel and Western Europe.

A new report produced in collaboration with the Puerto Rico Tourism Co. outlines ways the island is attracting investment.