Hilton Hotels Corp. has decided to sell several of its owned properties with an eye toward “balancing” revenue streams, according to Robert M. La Forgia, the company’s chief financial officer.

Beverly Hills-based Hilton already has listed two portfolios, each containing five properties across the country. One pool consists of suite-style hotels, and the other full-service hotels.

“We’re testing the market right now,” said La Forgia. “If we don’t get our prices, then we’re not going to be sellers.”

Hilton has also listed its famous Palmer House hotel in Chicago for individual sale, with Jones Lang LaSalle Hotels getting the listing. The company is internally selling several Homewood Suites properties.

“It’s a hot transaction market right now,” La Forgia said. “It’s a seller’s market for hotels, and we’re going to be opportunistic sellers. We’re going to have select properties in markets we feel are strong.”

In recent years, most large hotel companies have reduced their ownership of properties in favor of locking in long-term management contracts that have proven to be more profitable.

Will Marks, an analyst with San Francisco-based JMP Securities, doesn’t expect any drastic changes. “This has been something they’ve been discussing for some time,” he said, “but as far as I know they aren’t interested in selling everything off.”

La Forgia said the listings are part of Hilton’s strategy to balance out its revenue streams.

Currently, 53 percent of the company’s earnings come from hotels it owns, 37 percent from hotels it manages and another 10 percent from timeshare properties, La Forgia said.

“We would like to be a little more balanced from fee business and owned business and at the same time grow our timeshare business,” he said.

La Forgia said Hilton hasn’t made plans for proceeds from sales. Last year, the company said it would increase its cash flow to $1 billion over the next three years.