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Blackstone Taking Hilton Public Soon...

According to reports from the New York Times, theBlackstone Group L.P.(NYSE:BX) who owns the hotel giant Hilton Worldwide is planning on taking the company public. It is expected that the offering will occur in the first or second quarter of 2014. Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, and Deutsche Bank are all involved in the initial process. With the stock market booming, expect Blackstone to realize significant gain from the issuance. Year-to-date, hotel stocks are up 15%. This will be Hilton's second time as a public company.