Hilton Worldwide revealed in a regulatory filing that it plans to raise up to US$2.37 billion with its initial public offering, the largest-ever IPO for a hotel company. The filing did not reveal the IPO’s date.
Hilton Worldwide, McLean, Virginia, plans to sell 112.8 million shares for US$18 to US$21 each and according to Bloomberg Hilton executives will begin meeting with potential investors tomorrow. Bloomberg also reported that the IPO could raise as much as US$2.7 billion if extra shares are sold.
Hilton initially said it would raise US$1.25 billion when it filed for the IPO in September.
The Blackstone Group, New York City, owns Hilton Worldwide and took the hotel management company private for US$26 billion in 2007. Blackstone will retain majority ownership after the IPO and Deutsche Bank, Goldman Sachs Group, Bank of America Corp. and Morgan Stanley are arranging the IPO.