CNN is reporting that Chinese conglomerate HNA Group is looking to offload its $6.5B stake in Hilton Worldwide. Back in 2016, HNA purchased a quarter stake in Hilton which turned into three separate investments when Hilton split into separate entities in 2017 – Hilton Worldwide, Hilton Grand Vacations, and Hilton Park Hotels & Resort. HNA’s stake in Hilton Grand Vacations and Hilton Park Hotels & Resorts were sold last month for $1.1B and $1.4B respectively.
HNA is looking to sell “some or all” of its 26% stake in the storied American hotel chain, the filing said, noting that the timing of the sale would depend on market conditions. If HNA manages to sell its Hilton Worldwide shares at or near market value, the Chinese company stands to walk away with a profit of more than $2 billion.
The company, which started as a regional airline more than 20 years ago has grown its international empire while racking up debt the past few years – including the Radisson.
Related:
- China Eager to Sell Recently Seized NYC Waldorf Astoria, JW Marriott Essex House Next?
- Anbang “Has Hilton over a Barrel” as Waldorf Astoria Finally Begins Renovations Removing Most Rooms
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