Hilton Worldwide moves to welcome guests via IPO

The Blackstone Group is reportedly moving to publicly list its Hilton Worldwide hotel chain.

Hilton has hired four banks — Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley to underwrite the anticipated initial public offering and help refinance around US$13 billion in debt.

Chris Snow, an analyst at CreditSights Inc., told the Wall Street Journal that an IPO could be a "multibillion-dollar" transaction.

It reports the IPO could happen in the early months of next year.

Founded in 1919, Hilton has recovered after a difficult financial crisis for commercial property.

According to the Wall Street Journal, Blackstone once had an on-paper loss of two-thirds of its US$6 billion investment in Hilton.

But its forecast earnings before interest, tax, depreciation and amortisation for 2013 are reportedly 58% higher than in 2009.

Blackstone bought Hilton six years ago for US$26.7 billion - one of the largest leveraged buyouts preceding the 2008 global financial crisis, according to Reuters.

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?