MCLEAN, VA-Hilton Worldwide Holdings Inc. on Monday filed for what will be the largest hotel IPO ever, offering approximately 112.8 million shares at up to $21 each. The second lodging IPO this year from the Blackstone Group, the stock issue could raise as much as $2.4 billion, or $2.7 billion if the underwriters exercise their overallotment options.

In Monday’s SEC filing, Hilton notes that under CEO Christopher Nassetta, hired after Blackstone took the company private in 2007, it has “transformed” its business, “creating a globally aligned organization and establishing a performance-driven culture.” As part of the transformation under Blackstone ownership, the company has focused on both top- and bottom-line operating performance, “strengthening and expanding our brands and commercial services platform, and enhancing our growth rate, particularly in markets outside the US where our brands historically had been underrepresented.”

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