Hilton's largest shareholder, HNA Group, to sell some or all of its $6.5bn stake

By Laura Mullan
Chinese conglomerate HNA Group has announced that it intends to sell “some or all” of its $6.5bn stake in Hilton Worldwide, according to a regulator...

Chinese conglomerate HNA Group has announced that it intends to sell “some or all” of its $6.5bn stake in Hilton Worldwide, according to a regulatory filing. 

HNA Group is the largest shareholder in Hilton with a 26.1% share in what is one of the world’s largest hotel operators. 

The Chinese firm bought around a one-quarter stake in Hilton Worldwide in 2016.

This investment turned into three separate stakes when Hilton split itself into three publicly traded entities the following year - Hilton Worldwide, Hilton Grand Vacations and Hilton Park Hotels and Resorts. 

SEE ALSO:

Last month, HNA began offloaded its stakes in Hilton when it sold shares in Hilton Grand Vacations and Park Hotels and Resorts for around $1.1bn and $1.4bn respectively.

HNA said that it is “determined to pursue a sale of some or all of the common stock” that it currently holds in Hilton Worldwide, as it tries to balance its books. 

One of the world’s largest hotel operators, Hilton Worldwide has more than 5,200 hotels across the globe operating under 14 brands including Waldorf Astoria, Conrad, Hilton Hotels & Resorts, Doubletree by Hilton and the Tapestry Collection.

Hilton Hotels did not respond to HNA’s announcement. 
 

Share

Featured Articles

Ahold Delhaize Targets Sustainability & Omnichannel Goals

Multinational food business Ahold Delhaize prioritises sustainability and omnichannel innovation as part of its new plan for financial and strategic goals

US Bird flu Turns Spotlight on Milk Pasteurisation

As bird flu sees sales of raw milk spike, we look at the work of Tetra Pak, a giant in the world of pasteurisation.

Nestlé 'Meeting Sustainability Targets on Nescafé Coffee'

Nestlé is meeting targets on sustainably-sourced Nescafé coffee, & has donated 21mn plants as part of global ESG initiatives, a company report claims

Coffee Prices Soar as Extreme Weather Hits Brazil & Vietnam

Drink

Guinness & Carlsberg Back Drought Resistant Grain for Beer

Drink

Tyson Foods Shares Plummet in Face of Costs & Inflation

Food