The company noted the
number of shares to be offered and the proposed offering have not yet been
determined. However, according to Reuters, the IPO will be for up to $1.25
billion.
Blackstone Group LP,
which owns Hilton Worldwide, took the large branded hotel chain private in a
$26.7 billion in 2007. Blackstone is looking to take advantage of the hotel
industry's recent recovery as well as the company's increased
profitability. According to Reuters, Hilton's earnings before interest,
tax, depreciation and amortization are expected to be 58 percent higher in 2013
than they were in 2009.
According to the New
York Times, Blackstone is not prepared to sell enough shares to lose control of
Hilton.
