Business

Hilton Worldwide plans stock market listing

  • 12 September 2013
  • From the section Business
Hilton Pattaya

The Hotel chain Hilton Worldwide has filed for an initial public offering to raise up to $1.25bn (£790m).

It is being sold by the private equity group Blackstone, which bought Hilton in 2007 for $26.7bn.

Blackstone's filing did not say how much of Hilton it plans to sell or which stock exchange it will use. It will use the proceeds to pay off debt.

Hilton Worldwide has about 4,000 hotels, resorts and timeshare properties spread across 90 countries.

The group's brands include Conrad, Waldorf Astoria, Doubletree, Embassy Suites, Homewood Suites, Home2Suites, Hilton Garden Inn, Hampton Inn, and Hilton Grand Vacations.

It was founded in 1919 by Conrad Hilton.

Blackstone's deal to take it private was one of the biggest buyouts before the financial crisis.

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