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The rise and fall of mega dealmaker HNA Group
Once the owner of about $150 billion in assets, much of which was in tourism and aviation, and employing 400,000 workers, HNA Group is now facing the ignominy of bankruptcy. Most of its landmark deals – for companies such as Hilton, Red Lion Hotels, Carlson Rezidor Hotel Group, and Virgin Australia – were financed through risky borrowing.
It has spent the past couple of years feverishly selling off assets to pay down a huge debt pile, and with a big focus on tourism, has been hit especially hard during the pandemic.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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