ASIA PACIFIC. Chinese aviation-to-hospitality conglomerate HNA Group is eyeing a major acquisition in the cruiseline business, according to a report in the respected trade title Cruise Industry News.
The online report noted that cruise expansion would fit neatly with the company’s continuing pursuit of acquisitions in the travel business. Key players in the cruiseline business include Carnival, Royal Caribbean, Holland America Line, MSC, P&O, Norwegian Cruise Line, Princess, Oceania Cunard, Silversea, Costa and Aida. Crystal Cruises would be another possibility.
As reported, HNA Group deepened its presence in travel retail with a swoop for 16.79% of Dufry last week.
HNA’S ACQUISITION TRAIL
HNA Group has been active in recent times in making acquisitions across its fields of interest with aviation and aviation-related services central to the expansion. Here is a selected timeline of some of its main deals:
- December 2016: As reported, HNA completes acquisition of gategroup, the Swiss inflight services provider, in a transaction valued at CHF1.4 billion (US$1.47 billion).
- December 2016: Completes acquisition of IT products and services company Ingram Micro through subsidiary Tianjin Tianhai Investment Company. The all-cash transaction is for US$38.90 per share with an equity value of approximately US$6 billion.
- December 2016: Closes deal to acquire Carlson Hotels through subsidiary HNA Tourism Group. Also acquires Carlson’s 51.3% stake in Brussels-based Rezidor Hotel Group.
- October 2016: China Duty Free Group parent company China International Travel Service votes at its board meeting on 28 October to create a joint venturewith Hainan Duty Free.
- October 2016: Announces intention to purchase a quarter of Hilton Worldwide Holdings Inc. for US$6.5 billion.
- October 2016: Buys CIT Group’s aircraft leasing business for US$10 billion.
- May 2016: Agrees to purchase 13% of Virgin Australia for US$114 million, with plans to raise that stake to about 20%.
- March 2016: Increases stake in Deutsche Bank from 3.04% to 4.76%.
- March 2016: Acquires Manhattan’s 245 Park Avenue skyscraper for US$2.21 billion.
- November 2015: Agrees to buy 23.7% stake in Azul Brazilian Airlines for US$450 million through subsidiary Hainan Airlines.
- July 2015: Agrees to buy airport luggage handler Swissport International from PAI Partners for US$2.81 billion.