HNA Group plans to invest US$7.6 billion over the longer term to promote tourism and its digital transformation, according to a Reuters report citing comments made by Eric Tong, chairman of HNA Technology Group.
Reuters said Tong, who was speaking at an event to launch a mobile application bringing together HNA’s offerings in the hospitality, aviation and financial sectors, did not elaborate on how the funds would be raised or spent. He did not rule out “merging other companies.”
HNA has an interest in some 8,000 hotels. It holds a 25% stake in Hilton Worldwide Holdings, acquired Carlson Hotels earlier this year and, among others holds a significant share in NH Hotel Group. Its flagship property is Hainan Airlines.
The group has faced heightened scrutiny over its ownership and finances after announcing more than US$50 billion in acquisitions in a little over two years.