Hilton Worldwide files for $1.25bn IPO Hilton Worldwide has filed plans for an initial public offering of up to $1.25bn as the hotel operator seeks to return to the public market after years under the private equity ownership of Blackstone Group. The New York-based buyout group took Hilton private for more than $26bn including debt in 2007 in one of the largest leveraged buyouts before the global financial crisis. Hilton did not disclose in its Securities and Exchange Commission filing on Thursday how many shares would be offered or the anticipated price range, but it did say that it intended to raise proceeds to pay down debt and for general corporate purposes. The US market for new offerings has sprung back to life in recent months as companies take advantage of rising equity prices to boost their valuations. Much of the activity has been driven by private equity groups looking to sell out of investments they made during the buyout boom years of 2006 and 2007. Blackstone, which owns more than 200,000 hotel rooms in the US alone through its portfolio companies, is looking to unwind a series of holdings in US commercial real estate and housing assets that it has accumulated in recent years. The Virginia-based hotel group last month hired Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley to lead its IPO. Founded in 1919 by Conrad Hilton, Hilton Worldwide's brands include Conrad, Waldorf Astoria, Doubletree, Embassy Suites, Hilton Garden Inn, Hampton Inn and Hilton Grand Vacations. Hilton Worldwide has about 4,041 hotels, resorts and timeshare properties in 90 countries and territories. Of these, Hilton owns or lease interests in 157 hotels. For the year ending in June, Hilton reported net income of $427m and revenue of $9.4bn. Hilton did not disclose what stock exchange it expects to list on or what ticker symbol it plans to use.