As IPO market booms, Hilton shares jump in debut

Published on NewsOK Modified: December 12, 2013 at 4:10 pm •  Published: December 12, 2013

It's a suite day for Hilton investors.

Shares gained 7.5 percent to close at $21.50 Thursday after the hotelier raised $2.35 billion, the largest hotel IPO ever.

Hilton Worldwide Holdings Inc. is the world's largest hotel group with 665,667 rooms across 90 countries and territories. It operates luxury brands such as the Waldorf Astoria and Conrad Hotels & Resorts but has built much of its recent growth on franchise deals.

Investor demand for IPOs has been strong recently — there have been 218 IPOs in the U.S. this year, the most since 2000, according to IPO research and investment firm Renaissance Capital. And Hilton's offering trumped the $2.1 billion generated by Twitter's IPO last month, as well as proceeds from IPOs of its competitors. The next biggest was Hyatt Hotels Corp.'s $1.1 billion IPO in 2009, according to data provider Dealogic.

Hilton's market value of about $21.2 billion is well above that of other hoteliers. Marriott International Inc. and Starwood Hotels & Resorts Worldwide Inc. are both worth about $13.8 billion, while Hyatt has a market capitalization of $7.3 billion as of Thursday's close.

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