HNA Group, a Chinese conglomerate, has acquired a 25% stake in Hilton Hotels & Resorts for some US$6.5 billion. Chinese companies are increasingly interested in overseas tourism-related businesses as more Chinese people travel abroad. This particular move is part of HNA’s effort to become a “global tourism business,” according to CEO Adam Tan. Under this deal, HNA can neither increase nor reduce its stake over the next two years without Hilton’s permission. The deal, which is expected to be finalized by early 2017, will reduce Blackstone’s share in Hilton to 21%.