Hilton Worldwide considers acquisition of luxury properties in the U.S.
Hilton Worldwide (Blackstone Group), the largest publicly traded hotel operator, is considering buying high-end urban hotels or resorts to spend $1.95 billion in proceeds from the sale of Manhattan’s Waldorf Astoria hotel.
Hilton, which earlier this month agreed to sell the property on Park Avenue to China’s Anbang Insurance Group Co., is looking at hotels in U.S. gateway cities and resort properties, CEO Christopher Nassetta said today on a third-quarter earnings call with analysts.
“We’re looking both at large single assets and portfolios, with a focus on the upper-upscale and luxury segment,” he said. “And they’ll be a mixture of assets that are pre-existing in our portfolio of brands, and those that are not, with the objective to have a blend of things.”