Chinese conglomerate HNA Group plans to sell some or all of its $6.3 billion stake in Hilton Worldwide Holdings.
The sale, announced yesterday in a regulatory filing with the US Securities and Exchange Commission, comes about 18 months after HNA bought a 25% stake in Hilton for around $6.5 billion to become its biggest shareholder.
Today, HNA owns 26.1% of Hilton.
No details were available on when or to whom HNA would sell its Hilton stake, or the size of the divestment, Reuters reported.
A Hilton spokesman declined to comment.
HNA has sold assets such as land and office buildings in recent months to pay down a large level of debt following a $50 billion investment spree in the past two years.
HNA disposed of its 25% stakes in Park Hotels & Resorts and Hilton Grand Vacations in March. Both stakes were worth a total of $2.5 billion.