HNA Requests Transparency in NH Hotel Related-Party Transaction with Hesperia

MADRID--()--HNA Group ("HNA") today issued the following statement:

“HNA notes that the statement made by the NH Hotel Group Board of Directors following HNA’s 12 December letter to shareholders does not address key concerns regarding the Hesperia management contract, particularly the Board’s failure to conduct a fair and comprehensive credit analysis before entering into the contract.”

“HNA notes that the statement made by the NH Hotel Group Board of Directors following HNA’s 12 December letter to shareholders does not address key concerns regarding the Hesperia management contract, particularly the Board’s failure to conduct a fair and comprehensive credit analysis before entering into the contract.

“The Hesperia management contract is a related party transaction between Hesperia and Oceanwood that directly impacts NH Hotel’s non-Hesperia and non-Oceanwood shareholders. The Board has a duty to provide these shareholders with greater transparency and assurances that they will not be harmed in the event of a Hesperia termination or default, as it is currently offering them none. HNA therefore repeats its request that the Board immediately commission an independent third-party review of the terms of the contract and the Hesperia guarantee in order to issue a fairness opinion to NH Hotel’s non-Hesperia and non-Oceanwood shareholders.”

About HNA Group

HNA Group is a global Fortune 500 company focused on Tourism, Logistics and Financial Services. Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island into a global company with over $90 billion of assets, $30 billion in annual revenue and an international workforce of nearly 200,000 employees, primarily across North America, Europe and Asia. HNA’s tourism business is a fast-growing, vertically-integrated global player with market-leading positions in aviation, hotels and travel services. HNA operates and invests in nearly 2,000 hotels with over 300,000 rooms across major markets, and has 700 aircraft carrying over 90 million passengers to 260 cities worldwide. For more information, please visit www.hnagroup.com.

Contacts

Sard Verbinnen & Co
Michael Henson, +44 (0) 20 3178 8914

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