Hilton to Raise Up to $2.37 Billion in IPO

MCLEAN, Va. — Hilton Worldwide Inc., which is owned by Blackstone Group LP, is expecting to raise up to $2.37 billion for its U.S. initial public offering, which would value the company at approximately $20.7 billion.

According to a regulatory filing, the McLean, Va.-based hotel company and its shareholders plan to sell 112.8 million shares for $18 to $21 each. Hilton will sell 64.1 million shares in the offering.

Hilton was taken private by Blackstone in 2007 in a $26-billion deal, which was one of the biggest buyouts before the 2008 recession.