Hyatt Hotels Corporation has confirmed that it is considering a bid to take over Spain’s NH Hotel Group.
The news comes after Thai hospitality firm Minor International – which operates the Minor Hotel Group – purchased a 25.2 per cent stake in NH from Chinese giant HNA Group spread over two transactions.
Minor Group already owned a 9.5 per cent stake in NH and struck the latest deal with the intention of offering an all-cash purchase of the remaining shares.
Any offers by Hyatt would pit the two against each other in a bidding war.
Get the full story at Buying Business Travel