Hilton Worldwide Holdings Inc., the lodging chain bought by Blackstone Group LP in 2007, plans to raise as much as $2.4 billion in its U.S. initial public offering, the most ever for a hotel company.
The McLean, Virginia-based hotel operator and existing shareholders plan to sell 112.8 million shares for $18 to $21 each, according to a regulatory filing Monday. Hilton, the world’s largest hotel company with more than 4,000 properties, plans to sell 64.1 million of the total, using its proceeds to help repay $1.25 billion of debt. New York-based Blackstone isn’t selling any of its stock.
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