The owner of the hotel group fund has announced filing the application to New York market authorities to create its IPO.
Hilton Worldwide's entry on the stock market is being finalized, as demonstrated by the announcement of filing an application with market authorities. Blackstone, owners of the group, however indicated in a communiqué that the number of proposed actions and their prices had no yet been decided. Sources close to the affair believe that Blackstone could make about 1.25 billion dollars from this introduction. The operation will be led, as expected, by Deutsche Bank, Goldman Sachs Group, Bank of America and Morgan Stanley.Blackstone made the acquisition of the hotel group in 2006 for more than 26 billion dollars, with a debt recovery, which it largely funded through a 20 billion dollar loan. Having refinanced, Blackstone today bears a debt of about 13 billion dollars, which it hopes to reduce via the group's entry in the stock exchange and the sale of several hotel properties such as La Quinta chain and a small part of Hilton Worldwide.Since its acquisition in 2006, the Hilton group has gained 170,000 rooms through franchise and management contracts, and earned a place among MKG Hospitality's global hotel group rankings, now at second place, behind IHG.
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