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Hilton Worldwide beats target in shares sale
Hilton raised $2.35 billion when it floated on the New York stock exchange today, selling five million more shares than initially planned.
The hotel group sold 117.6 million shares at $20 each. It announced last week that it was aiming to sell 112.8 million for between $18 and $21 each.
Shares jumped 8% above their $20 offer price after their stock market debut.
Hilton, whose brands include Conrad, Waldorf Astoria, Doubletree, Embassy Suites, Homewood Suites, Home2Suites, Hilton Garden Inn, Hampton Inn and Hilton Grand Vacations, will use the money raised to pay down debt.
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Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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