Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
Blackstone offloads part of its Hilton stocks to cash in.
Saturday, 14th June 2014
Source : 4Hoteliers.com & external sources
 

Blackstone Group is selling a significant piece of its majority stake in Hilton Worldwide six months after the hotel chain was brought public in the biggest-ever IPO for a US based hotel company. 

Bloomberg reported: Hilton registered to sell 90 million shares on Blackstone’s behalf, according to a filing today from the McLean, Virginia-based hotel operator.

4Hoteliers Image LibraryThe world’s largest lodging company by market value has climbed 17 percent since raising $2.35 billion in its Dec. 11 IPO. The underwriters will be allowed to buy another 13.5 million shares if they sell the initial amount.

Blackstone is taking advantage of stocks at record highs to start to return money from its largest-ever investment by the amount of equity staked. The New York-based firm’s $26 billion purchase of Hilton in 2007 came at the tail end of the buyout boom.

Since then, the rebound in capital markets and the travel industry has catapulted the deal to be among the most profitable private-equity acquisitions of all time. (Source)

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
Advertisment  
 Related News  (Click title to read article)
Hilton Worldwide signs five properties in Myanmar.
Hilton introduces new brand.
Hilton introduces new language websites for Latin American travelers.
Hilton bans shark fin in APac region and promote equal opportunity for women.
 Latest News  (Click title to read article)
News from around the EMEA region, July 22
Tuesday, 22nd July 2014

Emirates takes milestone delivery of 50th A380 aircraft, plus shortest A380 flight launched
Tuesday, 22nd July 2014

Hotel satisfaction reaches record high; Gen Y more critical but not necessarily less loyal
Tuesday, 22nd July 2014

Malaysia Airlines flight MH17 shot down from the sky, July 22
Tuesday, 22nd July 2014

Langham, Sydney closes its doors for an upgrading program
Tuesday, 22nd July 2014

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy