Monthly bulletin April 2018
InterContinental Hotels Group announced to acquire a 51% stake in Regent Hotels & Resorts for US $39 million in cash. Concurrent with the acquisition, this operator would have the right to buy the remaining 49% interest in a phased manner from 2026.
Seeking to dispose assets globally to repay debts, the Chinese conglomerate HNA Group Co. purged its ownership in Park Hotels & Resorts Inc., sold its 25% interest in Hilton Grand Vacations Inc. for US $1.1 billion, and was forecast to continue selling its 26% stake in Hilton Worldwide Holdings Inc. In the meantime, Hongkong-based Galaxy Entertainment Group Ltd. agreed to buy a 4.9% stake in Wynn Resorts Ltd. for about US $927.5 million in a surprise move that could have implications for the casino industry in the U.S and China.
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