Blackstone’s Hilton Files for $1.25 Billion IPO in U.S.

Hilton Worldwide Holdings Inc., the hotel operator owned by Blackstone Group LP, filed to raise $1.25 billion in a U.S. initial public offering as lodging shares trade at close to their highest level in six years.

The world’s largest hotel chain plans to use proceeds from the offering to pay down debt, according to a regulatory filing today. New York-based Blackstone, the world’s largest manager of alternative assets, will own a majority of the voting power in Hilton following the IPO, the filing shows.