A Hilton property in the Dallas suburb of Southlake, TX.
McLEAN, VA—Hilton Worldwide Holdings Inc. said Monday that HNA Group would acquire a 25% equity interest in Hilton from affiliates of the Blackstone Group. Valued at approximately $6.5 billion, the deal represents Beijing-based HNA's second entity-level venture into hotel companies in the past six months, and Blackstone's third major domestic lodging transaction with Chinese investors.
HNA's acquisition of a Hilton stake represents a long-term strategic investment in Hilton itself as well as its planned spin-offs of Park Hotels & Resorts and Hilton Grand Vacations, which are scheduled to close by the end of this year. Following the closing of the equity interest sale, HNA will own a 25% stake in all three companies.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
