Tourism Breaking News
Hilton Worldwide Holdings, HNA Group and Blackstone has announced that HNA will acquire an approximate 25 per cent equity interest in Hilton from affiliates of Blackstone, establishing a long-term strategic investment in Hilton and Hilton’s planned spin-offs of Park Hotels & Resorts (Park) and Hilton Grand Vacations (HGV). The transaction is valued at approximately $6.5 billion, or $26.25 per share in cash, reducing Blackstone’s interest in Hilton to approximately 21 per cent. The transaction is expected to close in the first quarter of 2017. Following Hilton’s previously announced spin-offs of Park and HGV, which are expected to occur on or about the end of the year, HNA will own approximately 25 per cent of all three companies.
Read More »HNA to acquire 25% equity interest in Hilton
