China's HNA Group will acquire a 25 percent
equity interest in Hilton Worldwide from Blackstone. The deal is valued at
approximately $6.5 billion, bringing Blackstone's interest in Hilton down to 21
percent. HNA will own 25 percent not only of Hilton Worldwide but also of the planned
spinoffs of Park Hotels & Resorts and Hilton Grand Vacations. HNA made
headlines this year when a unit of the Chinese conglomerate purchased
Carlson Hotels. HNA also has a 15 percent stake in Red Lion Hotels Corp.
and is the largest shareholder in Spain's NH
Hotels. The transaction is expected to close in the first quarter of next
year.