Hilton’s Board Set for Further Diversification With Another Blackstone Sell; Shares Fairly Valued
Blackstone announced on the morning of Oct. 24 that it will reduce its ownership in Hilton to 21% from 46% in a transaction with Chinese conglomerate HNA for $26.25 per share, a premium of nearly 15% to Friday’s $22.91 per share close. The deal is scheduled to close in the first quarter of 2017. Despite the premium being paid, shares of the hotelier are up only 1%, or around $23 per share, in early Monday trading, as there could be some concern regarding why Blackstone is reducing its stake. Tha...Hilton Worldwide Holdings is a holding company. Through its subsidiaries, the company is engaged in hospitality with operations organized in two operating segments: management and franchise, which includes all of the hotels the company manages for third-party owners, as well as all franchised hotels operated or managed by someone other than the company; and Ownership, which includes hotels that the company owned or leased or that are owned or leased by entities in which the company owns a noncontrolling financial interest. Hilton Honors is the company's guest loyalty program that rewards guests with points for each stay at nearly all of its properties, which are then redeemable for free nights and other goods and services.
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