The Chinese conglomerate is dealing with financial difficulties.
Despite efforts to sell assets and reduce its debt, HNA has announced to its creditors that it may be facing a deficit of liquidity of at least 15 billion yuan in the first quarter, meaning 2.4 billion dollars or 1.9 milliard euros.
For two years, HNA had injected 50 billion dollars to support a strategy for acquisitions and shareholding in many sectors such as tourism/hospitality, airlines, and even banking and real estate.
As of January 1, 2017, HNA Hospitality Group ranked 11th hotel group worldwide with 1,181 properties and a total of more than 188,000 rooms, according to data published by Hospitality ON.
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