Hilton Worldwide Holdings said it plans to raise as much as $2.4 billion in an initial public offering, in what would be the biggest IPO ever for a hotel company.
The McLean, Va.-based company and its shareholders plan to sell 112.8 million shares for $18 to $21 a piece later this month, according to a regulatory filing.
The sale could more than double the investment of the Blackstone Group, the private equity firm that sunk in about $26 billion to take Hilton private in 2007.
If Hilton raised the biggest sum possible, its public offering would eclipse the highly anticipated stock sale earlier this year of social media company Twitter, which netted about $1.8 billion in its public offering.
The Blackstone Group has recently ridden the rising stock market and sold off billions of dollars' worth of shares in companies it has taken public, including TV ratings firm Nielsen Holdings and oil company Kosmos Energy.