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HNA considering sale of its stake in Park Hotels & Resorts

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HNA considering sale of its stake in Park Hotels & Resorts

China’s HNA Group is considering the sale of “some or all” of its 25% stake in Park Hotels & Resorts.

A filing by Park Hotels reads: “The reporting persons have determined to pursue a sale, through one or more registered public offerings, of some or all of the common stock that the reporting persons currently hold. The exact timing, manner and terms of any such sale would be subject to market conditions and other considerations.”

Chinese tourism conglomerate HNA Group acquired the stake from affiliates of Blackstone as part of its $6.5b (£5.3b) deal to buy a 25% stake in Hilton in October 2016.

Hilton completed the spin-off of the bulk of its real estate business along with its timeshare business to create two new companies, Park Hotels & Resorts and Hilton Grand Vacations, last year.

Chinese company to buy 25% stake in Hilton in £5.3b deal >>

Hilton Worldwide to spin off real estate and timeshare businesses >>

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