Hilton Worldwide files for IPO

Hilton Worldwide files for IPO

Hilton Worldwide is set for an initial public offering of up to $1.25 billion as owner Blackstone Group seeks to take advantage of a reviving hotel industry.

Blackstone took Hilton private in 2007 in a $26.7 billion deal, one of the largest leveraged buyouts that preceded the 2008 global financial crisis, according to Reuters.

Hilton Worldwide has about 4,000 hotels, resorts and timeshare properties, comprising 665,667 rooms in 90 countries and territories, it said in a filing with the US Securities and Exchange Commission today (Thursday).

The company plans to use the proceeds from the offering to repay debt and for other general corporate purposes. The filing did not disclose the number of shares on offer or their expected price.

Hilton’s operating income rose 33% to $656 million on revenue of $4.64 billion in the six months ended June 30 over the same period last year.

The hotel group’s earnings before interest, tax, depreciation and amortization are expected to be 58% higher in 2013 than in 2009, according to a recent presentation to Blackstone shareholders.


This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in News