HNA Group, the Chinese conglomerate, is seeking to expand its global leisure empire by making new investments in golf, betting on continued Asian interest in the game despite declining participation rates across the rest of the world.
The company is announcing a five-year $35m deal today to sponsor the Open de France tournament, one of the most prestigious events on golf’s European Tour. The move comes after the group bought eight golf courses in Washington state in the US for $137.5m last October.
“The commitment we are making to the European Tour . . . provides HNA Group with the opportunity to further promote golf’s growing popularity among Asian consumers and travellers,” said Chen Wenli, vice-chairman of HNA Group.
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