- The move will allow preferred shareholders to sell about $1B of stock, reports Bloomberg. The price terms for the offering are expected in early December, with the IPO taking place before year-end.
- Blackstone (BX +1.3%) "has timed it very well, and that's not by accident," says Arthur Adler of Jones Lang LaSalle's hotels group. "The fact they’re going public now demonstrates the interest investors have in a wide swath of hospitality.” Blackstone's Extended Stay America (STAY +3.6%) - gone public last week - is ahead by more than 20% since.
- Should the size increase to $2.25B, it would make the Hilton offering the year's 3rd largest - ahead of Twitter and behind Plains GP Holdings and Zoetis. The year's largest real estate-related IPO was Empire State Realty Trust which raised $1.07B in October.
Hilton reportedly boosting IPO size to $2.25B
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