Number of employees 163,000 (December 2017) Website Hilton Worldwide Holdings Inc., formerly Hilton Hotels Corporation, is an American that manages and franchises a broad portfolio of hotels and resorts. Founded by in 1919, the corporation is now led by Christopher J. Hilton is headquartered in. As of December 2017, its portfolio includes more than 5,200 properties (including timeshare properties) with over 856,000 rooms in 105 countries and territories. Prior to their December 2013 IPO, Hilton was ranked as the 36th largest privately held company in the United States. Hilton has 15 brands across different market segments, including, Canopy by Hilton, Tapestry Collection by Hilton, and Motto by Hilton.
On December 12, 2013, Hilton again became a public company, raising an estimated $2.35 billion in its second IPO. At the time, held a 45.8 percent stake in the company.
In October 2016, agreed to acquire a 25 percent equity interest in Hilton from Blackstone. The transaction was expected to close in the first quarter of 2017. Hilton's largest stockholders are HNA Group, Blackstone, and, which own 25%, 15.2%, and 6.7% of Hilton common stock respectively. Hilton was founded by in, in 1919 and had its headquarters in, from 1969 until 2009. In August 2009, the company moved to Tysons Corner, unincorporated, near. Contents.
History In 1919, Conrad Hilton purchased his first hotel, the 40-room Mobley Hotel in Cisco, Texas, and bought additional Texas hotels as years passed. In 1925, the Dallas Hilton became the first hotel to use the Hilton name. In 1927, Hilton expanded to Waco, Texas, where he opened the first hotel with air-conditioning in public areas and cold running water. In 1943, Hilton purchased the Roosevelt Hotel and the Plaza Hotel in New York, establishing the first hospitality company to span the contiguous United States. The company incorporated in 1946 as the Hilton Hotels Corporation, and subsequently began public trading of shares on the New York Stock Exchange.
In 1947, the Roosevelt Hotel became the first hotel in the world to have in its rooms. The entrance to the Waldorf-Astoria in New York, Conrad's 'greatest of them all' Hilton International was founded a few years later, in 1949, with the opening of the Caribe Hilton Hotel in Puerto Rico. Barman Ramon 'Monchito' Marreno claimed he created the at this resort. Hilton purchased the Waldorf Astoria New York in the same year. The was acquired in 1954 for $111 million in what was then the world's most expensive real estate transaction.
One year later, Hilton created the world's first central reservations office, titled 'HILCRON'. The reservations team in 1955 consisted of eight members on staff booking reservations for any of Hilton's then 28 hotels. Reservations agents used the 'availability board' to track records.
The chalk board measured 30 feet (9.1 m) by 6 feet (1.8 m) and allowed HILCRON to make over 6,000 reservations in 1955. Bookings could be made for any Hilton via telephone,. Later in 1955, Hilton launched a program to ensure every hotel room would include. In late 1955, Hilton opened the first post–World War II property in Istanbul. Hilton is credited with pioneering the concept with the opening of the San Francisco Airport Hilton in 1959.
In 1965, Hilton launched Lady Hilton, the first hotel concept created specifically for women guests. To appeal to female travelers, a number of properties offered floors occupied by only women along with distinct amenities for their usage. In 1969, the first DoubleTree Hotel opened. However, Hilton was not affiliated with the brand until its acquisition of the parent company in 1999. Hilton purchased the Flamingo Las Vegas in 1970, which would become the first in the domestic gaming business to be listed on the NYSE. In 1979, founder Conrad Hilton died at the age of 91.
Hilton Hotels Corporation later created the Conrad Hotels brand in honor of Hilton. Hilton Honors (formerly Hilton HHonors), the company's guest loyalty program, was initiated in 1987. In 1994, the Honors surpassed competing hotel loyalty programs by offering members both hotel credit points and airline credit miles. The company has been a sponsor of the United States Olympic Team. Two chains with one name The company spun off its international operations into a separately traded company on December 1, 1964, known as 'Hilton International Co.'
It was acquired in 1967 by, the holding company for. In 1986, it was sold to, the holding company for, which became Allegis Corp. In an attempt to re-incarnate itself as a full-service travel company, encompassing and in addition to Hilton International.
In 1987, after a corporate, the renamed UAL Corp. Sold Hilton International to, a British leisure and gambling company, which, in May 1999, adopted the name 'Hilton Group plc.' The former Hilton Hotels Corporation headquarters in Beverly Hills As a result, there were two separate, fully independent companies operating hotels under the Hilton name. Those Hilton Hotels outside the U.S. Were, until 2006, styled as 'Hilton International' hotels. Because the two chains were contractually forbidden to operate hotels in the other's territory under the Hilton name, for many years hotels run by Hilton International in the U.S. Were called Vista International Hotels, while hotels operated by the American arm of Hilton outside the U.S.
In 1997, to minimize longtime, the American and British Hilton companies adopted a joint marketing agreement under which they shared the same logos, promoted each other's brands and maintained joint reservation systems. At that point, the Vista chain was phased out, while Conrad has been restyled as one of the luxury brands of Hilton (along with the Waldorf-Astoria Collection) and operates hotels within the US as well as abroad. In 1971, Hilton acquired International Leisure Company, including the. In 1998, Hilton spun off its gaming operations into a separate, publicly held company called Park Place Entertainment (later ) In 1999, Hilton acquired, which included the DoubleTree, Embassy Suites, Hampton Inn and Homewood Suites brands. 21st century. Hilton Hotels & Resorts, Hilton's flagship brand In 2001, Hilton agreed to sell Red Lion to WestCoast Hospitality. On December 29, 2005, Hilton Hotels Corporation agreed to re-acquire the Hilton International chain from its British owner, Hilton Group plc, for £3.3 billion ($5.71 billion).
Hilton Brand Standards Pdf
As well as bringing the two Hilton companies back together as a single entity, this deal also included Hilton plc properties operating as Conrad Hotels, and LivingWell Health Clubs. On February 23, 2006, the deal closed, making Hilton Hotels the world's fifth largest hotel operator in number of rooms.
Hilton Group PLC (headquartered in the UK) then renamed itself. Scandic Hotels was sold the next year on March 1 to. Christopher J. Nassetta in 2004 On July 3, 2007, Hilton Hotels Corp. Agreed to an all-cash buyout from the Blackstone Group LP in a $26 billion (including debt) deal that would make Blackstone the world's largest hotel owner. At $47.50 per share, the buyout price was 32 percent higher than the closing value of a share of Hilton stock on July 3. The deal was the culmination of a year of on and off discussions with Blackstone.
In October 2007, was appointed President and Chief Executive Officer of Hilton. In February 2009, Hilton Hotels Corp. Announced that its headquarters were moving from Beverly Hills to Fairfax County, Virginia.
While Blackstone saw an opportunity to streamline the company and push Hilton's expansion overseas when Blackstone pursued Hilton in 2006 and 2007, the buyout saddled the company with $20 billion of debt just as the economy was turning down. The debt had very liberal terms, so there was no danger of default, but when travel slowed, the company suffered. In April 2010, Hilton and Blackstone restructured the debt. Blackstone invested a further $800 million of equity and the debt was reduced to $16 billion.
Hilton returned to being a public company on December 12, 2013. This second IPO in the company's history raised an estimated $2.35 billion. Retained a 45.8% stake in the company.
The company announced in February 2016 that Hilton would turn its hotel holdings into a. Prior to making the announcement, the company went to the IRS for approval. In February 2016, Hilton announced its intention to spin off its timeshare and real estate businesses, creating three independent public companies. The spin-offs of and were completed in January 2017. Homewood Suites by Hilton entrance sign Focused service. All suites. Lifestyle.
Timeshare. Former. Coral by Hilton. Lady Hilton. Franchising As of 2013, about 70% of the rooms branded under Hilton were franchised to independent operators and companies. During its 2007–2013 ownership of Hilton, Blackstone Group pursued a strategy of predominantly expanding Hilton's reach through franchise agreements, while relatively few new properties were actually operated by Hilton.
Hence, the proportion of franchised rooms grew significantly during this period. The practice of franchising is popular within the among most major hotel chains, as the parent company does not have to pay for the maintenance and overhead costs of franchised properties. Franchisees must follow strict brand standards in order to maintain a licensing agreement with Hilton. Many of Hilton's flagship properties, airport properties, and largest resorts, however, are corporately managed.
Hilton Honors Hilton Honors (formerly Hilton HHonors) is Hilton's guest through which frequent guests can accumulate points and airline miles by staying within the Hilton portfolio. The program is one of the largest of its type, with approximately 71 million members. Hilton renamed the Hilton HHonors program to Hilton Honors in February 2017. Properties. Hilton San Francisco and Towers, the second largest Hilton with over 2,000 rooms Corporate affairs The company has its headquarters in Tysons Corner, Virginia and an operations center in Memphis. Its Asia-Pacific operations are managed out of Singapore, its Middle East and Africa operations are managed out of Dubai, and its European operations are based in the UK. Company culture According to Careerbliss.com, Hilton ranked first in the list of '2012 Happiest Companies in America', with a score of 4.36 out of 5.
The survey looked at job reviews from more than 100,000 employees, with such characteristics life as work-life balance, company culture and reputation, and the relationships employees have with their bosses. Hilton has scored 100% on the each year from 2014 to 2017. In 2016, Hilton was named one of the 'World's 25 Best Multinational Workplaces' by and Great Place to Work.
In 2017, Fortune ranked Hilton number 26 in their list of 'The 100 Best Companies to Work For'. Hilton in popular culture. The 671-room in Beverly Hills, California is home to the. It has played host to other awards shows, including the Soap Opera Awards. And performed in the East Penthouse on the 45th floor of the on October 28, 1965.
And honeymooned in the presidential suite at the where they hosted one of their famous ' for a full week in 1969. In 1971, was filmed at the.
On April 3, 1973, Dr. Made the world's first cell phone call in front of the. A press conference was held at the hotel later that day to mark the milestone. With and was filmed at the Fontainebleau Hilton in Miami in 1992.
On February 11, 2012, Houston died in her bathtub in Suite 434 of the after a drug overdose. Hotel management has since renovated the room. In 1995, the movie was filmed at the.
Was filmed in 1999 at the. In 2006, several movies including, and were filmed at the New York Hilton.
Conrad Hilton (played by actor ) features as a major character in the third season of, as lead character creates a series of ad campaigns for Hilton Hotels. The Drapers travel during one episode to the Cavalieri Hilton in Rome, though the scenes were actually shot at the in Los Angeles. On the rotating wheel space station in 's 1968 film, a receptionist is shown sitting at the entrance to the Hilton Space Station 5. References.
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