Hilton Worldwide looks to raise $2.4bn in share float

Hilton Pattaya Hilton said it would use the proceeds of the share sale to pay off debt

Related Stories

Hilton Worldwide, one of the world's biggest hotel firms, plans to raise up to $2.4bn (£1.4bn) via a share sale.

In a filing with the US Securities and Exchange Commission, the firm said it planned to sell 112.8 million shares for between $18 and $21 each in its initial public offering (IPO).

Hilton said it would use money raised from the flotation to pay down debt.

The share sale would mark Hilton's return to a public listing after being acquired by Blackstone Group in 2007.

Blackstone bought the hotel group for $26.7bn in October 2007, taking it private in one of largest buy-outs before the global financial crisis.

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

Good timing?

Some analysts said investor interest in share sale was likely to be strong, not least because global markets are showing signs of recovery and helping to lift the travel industry.

"The Blackstone Group has timed the Hilton initial public offering at the perfect market inflection points of increasing global consumer travel demand, daily room rates, and occupancy," said Christopher Muller, a professor at Boston University's School of Hospitality Administration.

If Hilton's shares are priced above the middle of the $18-$21 range, the IPO could end up being one of the biggest listings in the US this year.

The firm said it intended to apply to list the shares on the New York Stock Exchange, or NYSE, under the symbol HLT.

The company first filed for an IPO in September this year with the aim to raise up to $1.25bn (£790m).

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories



  • RihannaCloud caution

    After celebrity leaks, what can you do to safeguard your photos?

  • Cesc FabregasFair price?

    Have some football clubs overpaid for their new players?

  • Woman and hairdryerBlow back

    Would banning high-power appliances actually save energy?

  • Rack of lambFavourite feast

    Is the UK unusually fond of lamb and potatoes?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.