MCLEAN, Va.
Hilton Worldwide announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined, though published reports indicate the overall offering is in the area of $1.25 billion, which would be the largest ever of its kind for a lodging company.
Hilton intends to use gains from the offering to pay down debt, according to the regulatory filing. New York-based Blackstone, which purchased Hilton in 2007, will own a majority of the voting power in Hilton following the IPO, according to the filing.
Hilton’s roots go back to 1919, when Conrad Hilton purchased his first hotel property—in Cisco, Texas. Hilton currently oversees such hotel brands as Waldorf Astoria, DoubleTree, Hampton Inn and Homewood Suites, and operates more than 4,000 hotels around the world.
