Low revenues in the first quarter could cause indebted HNA Group, the controversial main owner of the hotel company Rezidor, to have trouble paying its bills.

According to sources to Bloomberg News, at least 19 billion kronor is missing.

During a meeting last week, the company told its creditors and government officials about the liquidity shortage, according to sources.

Some major lenders are now considering joining forces and creating a committee to put more pressure on HNA, the sources said.

HNA Group has around 65 million yuan, equivalent to almost 81 billion kronor, in debt to be paid in the first quarter.

HNA, which operates in everything from aviation to tourism and real estate, expects to be less pressured in the second quarter, according to people who attended the meeting.

This is the first time that detailed information about the company's liquidity program has been leaked, illustrating how urgent they have now become.

HNA Group is the main owner of the hotel company Rezidor, which owns the Strand Hotel in Stockholm and is listed on the Stockholm Stock Exchange. HNA Tourism Group owns 68.56 percent of Rezidor, according to the ownership data service Holdings.

Rezidor's share, however, is not significantly affected by the uproar. At 3 p.m., the share is up 0.4 percent and is trading at SEK 24.85.

Source: di.se