HNA to buy stake in Hilton Hotels

China’s HNA Group is buying a 25 per cent stake in hotel operator Hilton from Blackstone affiliates in a deal worth about US$6.5 billion. HNA will have a stake in Hilton and its planned spinoffs of Park Hotels & Resorts and Hilton Grand Vacations, which are expected to take place by the end of the year. Blackstone will now have a 21 per cent interest in Hilton Worldwide Holdings Inc.