European Open Appetite for Risk Hangs in Balance Around the Fed
Wall Street’s recovery spilled over to Asian trade today, with most major benchmarks across the region in the green. But whether sentiment can remain buoyant through a week of Fed members speaking remains to be seen.
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The owner of global luxury hotel chain Hilton Worldwide is planning to sell shares in the firm.
Blackstone Group paid $26.7 billion (£16.29 billion) for the company in October 2007 and is aiming to raise up to $2.4 billion by selling shares in the company.
The money raised through the share sale would be used to pay down debt.
Christopher Muller, a professor at Boston University's School of Hospitality Administration, told the BBC: "The Blackstone Group has timed the Hilton initial public offering at the perfect market inflection points of increasing global consumer travel demand, daily room rates, and occupancy."
A filing with the US Securities and Exchange Commission by Blackstone revealed that it is planning to sell Hilton shares for between $18 and $21 each in the initial public offering.
Home2Suites, Hilton Garden Inn, Hampton Inn, Conrad, Waldorf Astoria, Doubletree, Embassy Suites and Hilton Grand Vacations are among the brands owned by Hilton Worldwide.
Hilton is one of the most recognisable hotel brands in the world and shares in the company are likely to be in demand when they go on sale
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