Marriott International Inc.

Another bid from China for US hotel; $6.5B for Hilton stake

HNA Group is snapping up a 25 percent ownership stake of the Hilton hotel chain for about $6.5 billion, the latest attempt by a Chinese interest to acquire real estate in the U.S.

HNA will appoint two directors at Hilton, expanding the board to 10 members, and will have partial ownership of Hilton's planned spinoffs of Park Hotels & Resorts and Hilton Grand Vacations, expected to conclude by the end of the year.

HNA's deal for Hilton is expected to close not long after that, in early 2017.

With real estate investors looking to cash out of a red hot market over the last several years, Chinese interests have stepped in, seeking a safe place to keep cash.