A Pedestrian Walks Past a Hilton Hotel in New York

A Pedestrian Walks Past a Hilton Hotel in New York

Victor J. Blue/Bloomberg

The turnaround of Hilton Worldwide Holdings Inc., the world’s largest hotel chain, marks a triumph for New York-based Blackstone, which bought Hilton at the end of the 2007 buyout boom only to see property values and hotel occupancies plunge during the credit crisis that ensued.