China’s HNA Group has denied speculation that it is planning to acquire a stake in AccorHotels.
The Hainanese travel and tourism conglomerate has issued a statement dismissing “groundless reports” that it is planning to bid for AccorHotels, in an effort to counter reported interest from another Chinese company, Jin Jiang.
“As of now, HNA Hospitality Group neither has discussed with French AccorHotels Group on the equity acquisition, nor plans to have such discussion. Relating reports are false,” the company said in a statement.
“HNA Hospitality Group has always been cautious with investments, following industry standard business codes and company work rules strictly, and will not participate in hostile bidding with any projects,” it added.
HNA recently announced the acquisition of another major hotel group, US-based Carlson, while Jin Jiang has previously purchased a stake in France’s Louvre Hotel Group.