The parent of Hilton Worldwide has filed for an initial public offering for the hotel chain to raise up to $1.25bn (£790m).
Private equity group Blackstone, which bought Hilton in 2007 for $26.7bn, said it will use the proceeds to pay off debt.
Since Blackstone took over Hilton, it has expanded the number of rooms by 34%, or 170,000 rooms, and further expansion is in the pipeline.
Hilton Worldwide now has around 4,000 hotels, resorts and timeshare properties spread across 90 countries, with several brands including Conrad, Waldorf Astoria, Doubletree, Embassy Suites, Homewood Suites, Home2Suites, Hilton Garden Inn, Hampton Inn, and Hilton Grand Vacations.
