NEW YORK - Hotel operator Hilton Worldwide Holdings Inc. plans to raise $1.25 billion from an initial public offering of its common stock.
The company did not disclose how many shares would be offered or the anticipated price range.
The company said it plans to use the offering's net proceeds to pay back certain debt. Any remaining funds will be used for general corporate purposes.
Hilton has 4,041 hotels, resorts and timeshare properties. Its brands include Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts and Hampton Inn.
The McLean, Va. company, founded in 1919, was taken private by investment firm The Blackstone Group in October 2007.
Hilton also did not disclose what stock exchange it expects to list on or what ticker symbol it plans to use.