6 JANUARY 2014
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.
Hotel operator Hilton Worldwide has raised US$2.34bn on a surprising IPO, returning to the public markets some six years after Blackstone Group LP took it private in one of the largest deals of the leveraged buyout boom.
Blackstone took Hilton into private ownership in 2007 for US$26.7bn, including debt, at the height of the market. The financial crisis hit soon after, leaving the company facing a large debt pile due to the leveraged buyout and a recession that hit business. Blackstone refinanced about US$13bn of the hotel chain's debt before launching the IPO.
Founded in 1919 by Conrad Hilton, Hilton's brands include Conrad and Waldorf Astoria operating in 90 countries, with around 4,000 hotels and 600,000 plus rooms. www.hilton.com
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?