Blackstone to sell $2.3B in Hilton shares

Blackstone Group disclosed plans on Monday to pare its stake in Hilton Worldwide Holdings by an additional $2.3 billion.

Blackstone, which bought Hilton in 2007 for $25 billion in debt and equity, is Hilton’s largest shareholder with a 66 percent stake. Its planned offering of 90 million shares would reduce its holdings to about 57 percent.

Blackstone didn’t sell any shares in December’s initial public offering, but unveiled plans in June to offer 90 million shares when the lockup period for the IPO expired.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

Hilton shares closed Friday at $25.24 and went public at $20 a share in December.

Hilton won’t offer any shares in the offering.

Last week, the company reported lower third-quarter earnings, but raised its outlook for the year on strong revenue and occupancy rates.

The hotel operator has been pushing growth by launching a new boutique hotel chain and adding hotels in markets including Latin America, where economic growth is driving demand for new lodging.

Shares have climbed 3.8 percent in the past month.

Suggested Articles

The Waldorf Astoria Monarch Beach Resort & Club has 400 guestrooms and an 18-hole golf course.

Representatives from state hotel and lodging associations as well as hotel owners put human faces on the travel downturn.

The first HospitalityVIEW meeting reached a consensus that technology innovation will be a driving force to lead the industry out of the downturn.