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Blackstone Group takes over Hilton

HiltonThe $26 billion takeover of Hilton Hotels Corporation by the giant  Blackstone Group probably hasn’t escaped you this week.   It makes Blackstone the biggest hotel concern in the world due to its purchase of hotels over the last two years, overtaking InterContinental Hotels which has occupied the position for the past four years.   The deal will see Stephen Bollenbach, Hilton’s chairman and chief executive, who has approximately 1% share in the company, receive a cool $200 million payout. Barron Hilton, son of Hilton’s founder, Conrad Hilton, and grandfather of socialite Paris Hilton, stands to be the biggest beneficiary from the deal. He has a 5.3% stake.

Paul Johnson

Paul Johnson is Editor of A Luxury Travel Blog and has worked in the travel industry for more than 30 years. He is Winner of the Innovations in Travel ‘Best Travel Influencer’ Award from WIRED magazine. In addition to other awards, the blog has also been voted “one of the world’s best travel blogs” and “best for luxury” by The Daily Telegraph.

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