Having two irons in the fire, if not more... This seems to be the strategy adopted by Chinese hoteliers in their drive for global expansion. In recent years, we have already seen a group like JinJiang become in turn owner of Europe's second largest groupLouvre Hotels, then majority shareholder of the leading continental playerAccorHotels. Not to mention its merger with Plateno on its domestic market, creating a giant with a strong 550,000 rooms.
HNA is now moving in the same direction. After having acquired Carlson Rezidor last April and its flagship brands Radisson Blu and Park Inn, this player has just announced its intention toacquire 25% of Hilton Worldwide sharescurrently held by the investment fund Blackstone. Let a deal valued at 6.5 billion dollars, which should be effective at the beginning of next year, and which will make HNA the main shareholder in the world's second-largest hotel groupBlackstone now owns only 21% of the American group. Under the terms of the agreement, a guard rail HNA will not be able to increase its shareholding for two years without Hilton's consent.
This investment is in line with our strategy of expansion in the global tourism market.
"We are delighted to welcome HNA Group as a strategic partner and long-term investor.commented Christopher Nassetta, Hilton's CEO. We are certain that these mutual relations will be beneficial to all and will open the way to new opportunities for our brands and our customers around the world, particularly in view of HNA's strong position in the fast-growing Chinese market." "This investment is in line with our expansion strategy for the global tourism market"said Adam Tan, CEO of the HNA Group.
Vast tourism conglomerate, owner of the airline Hainan Airlinesbut alsoAigle AzurThis is not HNA's first investment in the international hotel sector. In fact, the group also owns nearly 30% from the Spanish group NH Hotels. So, even if the insurer Anbang failed to acquire Starwood Hotels, which was finally taken over by Marriott after a long soap opera, the fact that Chinese players are playing a major role in the vast concentration movement underway in the hotel world is no longer a supposition. It is a virtual certainty.
