Chinese conglomerate HNA Group is to acquire an equity interest in Hilton Worldwide of approximately 25% from affiliates of American group Blackstone. The transaction, which is reported to have a cash value of around US$6.5 billion (US$26.25 per share), is expected to close during the first quarter of 2017 and will see Blackstone’s share in Hilton drop to 21%. We are pleased to welcome HNA Group as a long-term investor and strategic partner," said Christopher J Nassetta, Hilton’s president and chief executive officer. "HNA Group has a broad portfolio of successful travel and hospitality businesses and a proven track record of creating value in this industry. We believe this mutually beneficial relationship will open new opportunities for our brands and guests around the world, particularly in light of HNA's strong position in the fast-growing Chinese travel and tourism market, the largest outbound travel and tourism market in the world," he continued.
HVS EMEA HOSPITALITY NEWSLETTER.