Hilton Worldwide files for initial public offering
Another Virginia company has announced plans to go public. Hilton Worldwide, based in McLean, said Thursday that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
The number of shares to be offered and the price range for the proposed offering have not been determined.
The company said Deutsche Bank Securities Inc., Goldman, Sachs & Co., BofA Merrill Lynch and Morgan Stanley & Co. LLC are acting as the joint book-running managers for the offering.
Hilton was acquired in October 2007 by affiliates of The Blackstone Group L.P. and assembled a new management team led by Christopher J. Nassetta, the company's CEO. Under the new leadership, Hlton said in its public filing that it has transformed its business, creating a globally aligned organization. The company has 4,041 hotels, resorts and timeshares comprising 665,667 rooms in 90 countries.
Other Virginia companies that have gone public over the past year include The Corporate Executive Board Co. in Arlington (CEB), Wheeler Real Estate Investment Trust (WHLR) in Virginia Beach and Armada Hoffler Properties Inc. (AHH), also based in Virginia Beach.