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The Triumphant Return of Hilton Hotels

Hilton Worldwide Holdings Inc raised $2.35 billion for its initial IPO, making it the largest ever hotel IPO. The hotel chain will begin trading today on the NYSE under the ticker symbol “HLT”. It been six years since hotel operator left the public markets in a LBO orchestrated by the Blackstone Group L.P. (NYSE:BX).  Shares are priced at $20 a share. The IPO so far has been a huge success for Blackstone, which earned a profit of $8.5 billion from the issuance. Based on the current amount raised, Hilton will be valued around $31 billion according to the WSJ.