BTN Europe presents an overview of business travel and MICE predictions for this year
Virtual Event - 25-26 May 2021
Virtual Event - 9 June 2021
Thursday 9th September, JW Marriott Grosvenor House
Hilton Worldwide is set to raise up to $2.4 billion in the biggest ever flotation of a hotel company - more than $1 billion higher than its original estimate of $1.25 billion.
Blackstone Group, the private equity owner of Hilton since 2007, said it planned to sell 112.8 million shares priced between $18 and $21 in the initial public offering (IPO). The money will be used to reduce Hilton’s debts of $15 billion.
Hilton officially filed forms to return to the stock market in the US in September after six years in private hands.
Blackstone will retain majority control of Hilton following the flotation which will sell around 11.5 per cent of the hotel firm. The private equity firm paid $26.7 billion for Hilton in 2007.
Hilton Worldwide, which has more than 4,400 hotels in its portfolio, made total revenues of $9.4 billion for the year ending June 30, 2013, with an operating profit of $1.26 billion.
Brands include Conrad, Doubletree, Waldorf Astoria, Hampton Inn and Embassy Suites.