HNA Group, a Chinese conglomerate, has appointed banks to seek out buyers of its majority stake in hospitality firm NH Hotel Group.\r\n\r\nThe news comes only a week after NH itself turned down a takeover offer from fellow Spanish hospitality firm the Barcel\u00f3 Group.\u00a0\r\n\r\nReuters reported the announcement also came a day after the US government would not approve any HNA investments in the United States until the Chinese aviation and property conglomerate provides \u201cadequate information\u201d on who its shareholders are. \r\n\r\nHNA said it had hired JP Morgan and Benedetto, Gartland and Company to look for possible buyers of its 29.5% stake in Spain\u2019s NH Hotel Group. The stake is valued at around \u00a3557m at current prices. \r\n\r\nHNA has had a difficult relationship with NH Hotels as its representatives were ejected from NH\u2019s board in 2016 after HNA\u2019s purchase of rival hotel group Carlston-Rezidor led to a conflict of interest. \r\n\r\nEarlier this month the NH Hotel Group, with nearly 400 hotels in 30 markets, rejected Barcel\u00f3\u2019s offer, saying it undervalued the company. However, NH did not rule out taking part in any consolidation wave in the sector.