Hilton to launch new luxury lifestyle brand
Hilton Worldwide CEO Christopher Nassetta has recently confirmed that his group is exploring plans for a boutique hotel, or “lifestyle” brand. It would aim to compete with W Hotels, a brand developed by Starwood Hotels & Resorts Worldwide Inc., and Marriott International Inc.’s fledgling EDITION hotels, which the company is developing with famed hotelier Ian Schrager. “It’s something we’re working on,” Mr. Nassetta said in an interview at the stock exchange, where Hilton shares rose 7.5% to $21.50 on their first day of trading. Hilton sold 117.6 million shares Wednesday, raising about $2.35 billion in the largest-ever hotel initial public offering.