China's leading conglomerate HNA Group announced acquiring 25 percent stake in Hilton Worldwide Inc.

The company bought the stake from Blackstone Group LP. This is aready the second hotel industry investment made by HNA Group this year. The conglomerate mainly does business in the shipping and aviation sector, but recently, it has been diversifying into the hospitality industry.

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The deal priced Hilton stock at $256.25 per share, showing 14.6 percent premium over its Friday closing price. The transaction values Hilton at nearly $26 billion. The hotel company was taken private by Blackstone in 2007 in a deal priced at $26.7 billion, including debt. In 2013, it went public with the biggest hotel IPO in the history.

HNA Group CEO Adam Tan said the company endeavors to become a "global tourism business."

In April, HNA announced that it agreed to acquire Carlson Hotels, which owns brands such as Park Plaza and Radisson. However, no financial details for the deal were provided.

HNA is one of the biggest tourism companies in China and owns 2,000 hotels worldwide, and acquiring Hilton is making its assets even bigger.

Hilton is the parent company of 13 hotel brands, including Curio, Double Tree and Conrad Hotels and Resorts.

The deal specifies that HNA cannot dilute or increase its 25 percent stake in the hotel company without seeking its permission. The transaction is expected to conclude in early 2017. After the finalization of the deal, Blackstone's share in Hilton will come down to 21 percent.

HNA Group operates nearly a dozen airlines, with assets valued at more than $100 billion. Its co-founder Chen Feng runs it .

HNA Group of China currently holds investment in other various businesses, such as the Ingram Micro and Gategroup Holdings. 

TagsHNA Group, hilton, Blackstone Group