{"id":1004087766,"date":"2013-12-03T07:41:21","date_gmt":"2013-12-03T15:41:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004087766"},"modified":"2022-12-06T16:10:13","modified_gmt":"2022-12-07T00:10:13","slug":"hilton-to-trade-biggest-ever-hotel-ipo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hilton-to-trade-biggest-ever-hotel-ipo\/","title":{"rendered":"Hilton to Trade Biggest-Ever Hotel IPO"},"content":{"rendered":"<p><i>By Lynn Armitage, Contributing Writer<\/i><\/p>\n<p align=\"left\">The nearly century-old Hilton, the world\u2019s largest hotel enterprise, plans to start trading on the New York Stock Exchange next week under the symbol HLT, according to a marketing source.<\/p>\n<p align=\"left\">The IPO of 112.8 million shares, which will sell for about $18 to $21 each based on the regulatory filing yesterday, could bring in as much as $2.4 billion for the lodging giant, making what Bloomberg News reports will be the largest public offering for any hotel &#8212; surpassing Hyatt\u2019s $1.09 billion sale in November 2009.<\/p>\n<p align=\"left\">Blackstone Group bought the hotel chain in 2007 for $26 billion and according to the filing, all of the proceeds from the stock deal will be used to pay off the $1.2 billion debt incurred from the buyout.<\/p>\n<p align=\"left\">Since the first hotel was bought in 1919 by its founder and namesake, Conrad Hilton, the company has grown to more than 4,000 properties worldwide, including 10 well-respected brands in 90 countries, such as Waldorf Astoria, DoubleTree, Homewood Suites and Hampton Inn.<\/p>\n<p align=\"left\">Bloomberg reports that Hilton executives will start shopping for investors today and into next week.<\/p>\n<p align=\"left\"><em>CPE<\/em> reported earlier in November about<a href=\"https:\/\/www.commercialsearch.com\/news\/headlines\/industry-awaits-hilton-ipo\/\"> what\u00a0taking the hotel giant public would mean for the industry<\/a>.<\/p>\n<p align=\"left\">\n","protected":false},"excerpt":{"rendered":"<p>The nearly century-old Hilton, the world\u2019s largest hotel enterprise, plans to start trading on the New York Stock Exchange next week under the symbol HLT.<\/p>\n","protected":false},"author":1162,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004087766","post","type-post","status-publish","format-standard","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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