The billionaire Pritzker family of Chicago has sold a $1bn stake in Global Hyatt, the hotel chain it controls, to Goldman Sachs Capital Partners and Madrone Capital Partners, the investment vehicle of Rob Walton, the chairman of Wal-Mart.

The size of the stake was not disclosed although Hyatt said Goldman and Madrone had acquired a “minority interest” in the group. The group said the deal would provide liquidity to the Pritzker family interests that own Hyatt.