News

China’s HNA Pays $6.5 Billion For Hilton Stake

By: Caribbean Journal Staff - October 25, 2016

China’s HNA Group has announced the purchase of a 25 percent equity interest in Hilton Worldwide Holdings from affiliates of Blackstone.

The value of the transaction is approximately $6.5 billion, or $26.25 per share in cash, and reduces Blackstone’s interest in Hilton to around 21 percent.

As part of the deal, HNA has entered into a stockholders agreement with Hilton, and into similar deals with Park Hotels and Resorts and Grand Vacations.

“Hilton is an iconic global hospitality company with an unmatched portfolio of high-quality brands and a reputation for operational excellence,” said Adam Tan, vice chairman and CEO of HNA Group. “This investment is consistent with our strategy to enhance our global tourism business, and we look forward to working together on new initiatives that leverage our respective strengths, expertise and tourism platforms to provide travelers more choice, value and world-class services.”

Following Hilton’s spin-off of Park Hotels and Resorts, which had previously been announced, HNA will own approximately 25 percent of all three companies.

“We are pleased to welcome HNA Group as a long-term investor and strategic partner,” said Christopher J. Nassetta, president and CEO of Hilton. “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.”

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]


The Bahamas’ Atlantis Paradise Island Just Completed a $150M Renovation

walking on the beach in nassau

A new eatery by Michelin-star Chef Michael White. A new-look casino. State-of-the-art guest rooms and the Caribbean’s first Shake Shack.  The Bahamas’ Atlantis Paradise Island resort has officially completed a $150 million resort-wide renovation, a significant project that included a […]


United Airlines Is Launching New Nonstop Flights to Belize

river in belize

The river lodges. The blue hole. The Maya history. The reefs. If you haven’t been to Belize, you’re missing one of the Caribbean’s most beautiful, adventure-filled destinations.  And now with another new flight, it’s easier to get there than ever […]


Related Posts caribbean travel rebound

Delta Vacations? Classic? Travel Agents Share Their Favorite Tour Operators for the Caribbean

Three Caribbean travel specialists recently shared their top tour operators right now, as far as assistance with destinations and excursions go. Here’s who they chose as their top picks and why. Nikki Miller, founder of Travel With Nikki I am […]


Hilton Signs New All-Inclusive in the Dominican Republic's Miches Area

miches

Hilton is expanding its all-inclusive portfolio with the signing of Zemi Miches All-Inclusive Resort, Curio Collection by Hilton. It will be located in the Dominican Republic’s next big tourism destination, Miches, where Dominican officials have placed much of their tourism focus.  The 502-room […]


Hilton Is Planning a Big Expansion in Puerto Rico 

puerto rico spirit airlines

Hilton is planning a significant expansion of its hotel portfolio in Puerto Rico, Caribbean Journal Invest has learned.  The company is planning to “more than double” its portfolio on the island.  That will include new hotels across several different brands, […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You