Stock Market

Hilton Hopes to Have Largest Ever Hotel IPO

Wants to raise more than $2 billion

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Hilton said its initial public offering would raise up to $2.37bn (£1.44bn) in the biggest-ever hotel IPO, more than doubling Blackstone's investment.

Hilton is expected to launch its initial public offering this month, and the sale of about 11.5pc of its shares would value the company at up to $32.5bn, including debt.

Blackstone took Hilton private in 2007 for $26.7bn, including debt, in one of the largest leveraged buyouts before the 2008 global financial crisis.