As of December 31, 2023, the company's portfolio includes 7,530 properties (including timeshare properties) with 1,182,937 rooms in 118 countries and territories. Hilton owns or leases 51 properties, manages 800 properties, and franchises out 6,679 properties to independent franchisees or companies.[5]
On December 12, 2013, Hilton again became a public company, raising an estimated $2.35 billion in its second IPO.[6] At the time,Blackstone Inc. held a 45.8 percent stake in the company.[7] In October 2016, China'sHNA Group agreed to acquire a 25 percent equity interest in Hilton from Blackstone. The transaction was expected to close in the first quarter of 2017.[8][9][10] Hilton's largest stockholders were until mid-2018 HNA Group, Blackstone, andWellington Management Company, which as of March 2017 owned 25%, 15.2%, and 6.7% of Hilton common stock respectively.[11]
In 1925, theDallas Hilton became the first hotel to use the Hilton name.[15] In 1927, Hilton expanded toWaco, Texas,[16] where he opened the first hotel with air-conditioning in public areas and cold running water.[17][18][19]
In 1943, Hilton assumed management of theRoosevelt Hotel and purchased thePlaza Hotel, both well-established high-end luxury hotels less than a mile apart inNew York City'sMidtown Manhattan neighborhood. With this pair of acquisitions, Hilton established the first hospitality company to span the contiguous United States.[20]
The company was incorporated in 1946 as the Hilton Hotels Corporation and subsequently began public trading of shares on theNew York Stock Exchange.[21][22][23] In 1947, the Roosevelt Hotel became the first hotel in the world to havetelevisions in its rooms.[20]
In 1947, Hilton assumed management of the Palacio Hilton hotel inChihuahua, Mexico, which became the chain's first international property. That same year, they assumed management of four hotels on the island of Bermuda.[24]
In 1953, Hilton opened its first hotel in Europe, the Castellana Hilton in Madrid, Spain.[30]
TheHotels Statler Company was acquired in 1954 for $111 million in what was then the world's most expensive real estate transaction.[31]
Hilton is credited with several early innovations. In 1954, 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 chalkboard measured 30 feet (9.1 m) by 6 feet (1.8 m) and allowed HILCRON to make over 6,000 reservations in 1955.[32] Bookings could be made for any Hilton via telephone,telegram, orTeletype. Later in 1955, Hilton launched a program to ensure every hotel room would includeair conditioning.[33] Hilton is also credited with pioneering theairport hotel concept with the opening of the Hilton Inn atSan Francisco International Airport in 1959.[34]
International expansion continued in this era. In late 1955, Hilton opened theIstanbul Hilton, the first post–World War II property inIstanbul, Turkey.[33][35] In 1957, Hilton assumed management of its first hotel in Central America, the El Panama Hilton inPanama City, Panama. In 1958, Hilton opened its first hotel in Canada,The Queen Elizabeth inMontreal, Quebec.[36] In 1959, Hilton opened its first hotel in Africa, the Nile Hilton inCairo, Egypt.[37] In 1960, Hilton opened its first hotel inOceania, the Chevron Hilton inSydney, Australia.[38] In 1961, Hilton assumed management of its first hotel in South America, theHotel Carrera inSantiago, Chile. In 1963, Hilton opened its first hotels in Asia, theHong Kong Hilton and the Tokyo Hilton, and theRoyal Tehran Hilton.[39]
In 1965, Hilton launched Lady Hilton, the first hotel concept created specifically for women guests.[40] To appeal to female travelers, many properties offered floors occupied by only women along with distinct amenities for their usage.[41][23]
Between 1970 and 1971, Hilton acquired the International Leisure Company, including theInternational Hotel and theFlamingo Hotel, which were renamed the Las Vegas Hilton and the Flamingo Hilton.[42][43][44] The properties would become the first in the domestic gaming business to be listed on the NYSE.[45]
In 1977, Hilton International opened its first property behind the "Iron Curtain" in Communist Europe, the Budapest Hilton.[46]
In 1979, founder Conrad Hilton died at the age of 91.[47] Hilton Hotels Corporation later created the Conrad Hotels brand in honor of Hilton.[48]
Hilton Honors (formerly Hilton HHonors), the company's guest loyalty program, was initiated in 1987.[49] In 1994, the Honors surpassed competing hotelloyalty programs by offering members both hotel credit points andairline credit miles.[50][51]
In 1998, Hilton spun off its gambling operations into a separate, publicly held company calledPark Place Entertainment (later Caesars Entertainment, Inc.)[52] In 1999, Hilton acquiredPromus Hotel Corporation, which included the DoubleTree,Red Lion, Embassy Suites, Hampton Inn, and Homewood Suites brands.[53]
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 byTrans World Corp., the holding company forTrans World Airlines.
As a result, there were two separate, fully independent companies operating hotels under the Hilton name. 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. were named Conrad Hotels. Those Hilton Hotels outside the U.S. were, until 2006, styled as "Hilton International" hotels.[54]
In 1986, Hilton International was sold toUAL Corp., the holding company forUnited Airlines, for $980 million.[55] UAL was reorganized as Allegis Corp. in an attempt to re-incarnate itself as a full-service travel company, encompassingWestin Hotels andHertz rental cars in addition to Hilton International and United Airlines. In 1987, after a corporateputsch, the renamed Allegis sold Hilton International toLadbroke Group plc, a British leisure and gambling company, for $1.07 billion.[56] In May 1999, Ladbrokes was reorganized as "Hilton Group plc."[57]
In 1997, to minimize longtimeconsumer confusion, the American-owned Hilton and British-owned Hilton International 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 was restyled as one of the luxury brands of Hilton, operating hotels within the U.S. and abroad.
Christopher J. Nassetta, Hilton Worldwide President and CEO, in 2004
In 2001, Hilton agreed to sell Red Lion to WestCoast Hospitality.[58]
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). 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,Scandic Hotels, and LivingWell Health Clubs.[59] On February 23, 2006, the deal closed, making Hilton Hotels the world's fifth-largest hotel operator in number of rooms.[60] Scandic Hotels was sold the next year on March 1 toEQT AB.[61]
On July 3, 2007, Hilton Hotels Corp. agreed to an all-cash buyout from theBlackstone Group LP in a $26 billion (including debt) deal that would make Blackstone the world's largest hotel owner.[62] 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.[63] The deal was the culmination of a year of on and off discussions with Blackstone.[64] In October 2007, Christopher J. Nassetta was appointed president and chief executive officer of Hilton.[65] In February 2009, Hilton Hotels Corp. announced that its headquarters were moving from Beverly Hills, California to Fairfax County, Virginia.[66]
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 before the2008 financial crisis. In April 2010, Hilton and Blackstone restructured the debt with Blackstone invested a further $800 million of equity and the debt was reduced to $16 billion.[67]
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.[68] The Blackstone Group retained a 45.8% stake in the company.[7]
In February 2016, Hilton announced its intention to spin off its timeshare and real estate businesses, creating three independent public companies.[70] The spin-offs ofPark Hotels & Resorts andHilton Grand Vacations were completed in January 2017.[71] As of 2018, the company is a fully independent publicly traded company after the exits of Blackstone and HNA.[72]
On February 7, 2024, Hilton announced an exclusive partnership with Small Luxury Hotels of the World.[73]
On April 3, 2024, Hilton announced its acquisition of a majority controlling interest in Sydell Group, the owner of NoMad Hotels, aiming to expand the luxury lifestyle brand with up to 100 new NoMad hotels globally.[74]
Hilton's business model for its various brands is based on largely on franchising rather than direct ownership and management of properties. Hilton Worldwide has full ownership of the hotel and resort brands as well as theintellectual property associated with them, however the vast majority of Hilton branded properties are not owned and operated by Hilton, instead they are independently owned and operated by independent franchisees or hospitality companies.[5] As of 2025, Hilton Worldwide owns 22 hotel and resort brands that cover a variety of areas in the hospitality sector in six internal categories:[75]
As of February 2024, 6,679 of Hilton's 7,530 hotels and timeshare resorts worldwide are owned and operated by independent franchisees or companies and not by Hilton Worldwide itself, this includesHilton Grand Vacations which was a division of Hilton Worldwide until it was spun off into a separate company to act as a franchisee for Hilton's timeshare brands. Through this franchising model Hilton Worldwide owns the Hilton hotel and resort brands along with theIntellectual property associated with them but does not own nor operate the physical hotels and resorts that bear those brand names. Additionally, Hilton Worldwide does not employ the staff that works at these franchised properties, instead the staff are employed by the independent franchisees or companies. The practice of franchising means that Hilton Worldwide is not responsible for the operational costs, real estate costs, maintenance costs, staff wages, and other costs that they would be if they were the ones owning and operating the properties, instead the independent franchisee or company incurs those costs. Hilton Worldwide profits from the franchisees through franchise fees, licensing fees, and agreements which give Hilton Worldwide a certain percentage the income. In order to utilize the Hilton brands, the independent franchisees and companies must follow strict brand standards to maintain a licensing agreement with Hilton Worldwide.[76] The franchise model makes Hilton Worldwide a more profitable company along with increasing its value for shareholders due to it having less capital and being able to focus more on its brand. Many of Hilton's flagship properties, airport properties, and largest resorts, however, are corporately managed.[citation needed]
The company has its headquarters inTysons, Virginia, and an operations center inMemphis. Its Asia-Pacific operations are managed out ofSingapore, its Middle East and Africa operations are managed out ofDubai, and its European operations are based inWatford, UK.[77]
Hilton Honors (formerly Hilton HHonors) is Hilton's guest loyalty program, 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 195 million members.[78] There are four levels of elite status within the Hilton Honors program including Member, Silver, Gold, and Diamond. Hilton points average a value of 0.58¢ each.[79] Hilton renamed the Hilton HHonors program to Hilton Honors in February 2017.[80]Recent changes announced in September 2025 include significantly increased redemption point costs at luxury and peak-rate Hilton properties (for example, Waldorf Astoria Maldives rising from 190,000 to 250,000 points per night), limited promotional bonuses for elite statuses, and broader concerns among members that benefits are becoming harder to access without high rates of spending.[81]
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.[82] 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.[83] Hilton has scored 100% on theCorporate Equality Index each year from 2014 to 2017.[84]
In 2016, Hilton was named one of the "World's 25 Best Multinational Workplaces" byFortune and Great Place to Work.[85][86][87] In 2017,Fortune ranked Hilton number 26 in their list of "The 100 Best Companies to Work For".[88][89] In 2019,Fortune ranked Hilton number 1 in their list of "The 100 Best Companies to Work For".[90]
In 2015, Hilton committed to sourcing 100% cage-free eggs by December 31, 2017, and sourcing pork products withoutgestation crates by December 31, 2018.[91]
On April 3, 1973, Dr.Martin Cooper made the world's first cell phone call in front of theNew York Hilton Midtown. A press conference was held at the hotel later that day to mark the milestone.[97][98]
Conrad Hilton (played by actorChelcie Ross) features as a major character in the third season ofMad Men, as lead characterDon Draper creates a series of ad campaigns for Hilton Hotels.[111] The Drapers travel during one episode to the Cavalieri Hilton in Rome,[112] though the scenes were actually shot at theDorothy Chandler Pavilion in Los Angeles.[113]
^"About Hilton: History & Heritage". Hilton Worldwide.Archived from the original on August 30, 2017. RetrievedAugust 28, 2017. Note: User must click on "Early 1900s", then slide number 3 for verification.
^"A History of Firsts". Hilton Hotels and Resorts.Archived from the original on October 23, 2017. RetrievedAugust 28, 2017.
^ab"About Hilton: History & Heritage". Hilton Worldwide.Archived from the original on August 30, 2017. RetrievedAugust 28, 2017. Note: User must click on "1940s", then slide number 1 for verification.
^Petersen, Melody (September 8, 1999)."Hilton to Buy Promus Chain".The New York Times.Archived from the original on December 1, 2008. RetrievedMarch 23, 2008.
^Peter Lattman and Lingling Wei, "Blackstone Reaches Deal to Revamp Hilton's Debt,'Wall Street Journal, February 20, 2010; Hilton Worldwide press release, April 8, 2010;King of Capital, pp. 299–300.
^2001: A Spacy Odyssey (Motion picture). Directed by Stanley Kubrick. Screenplay by Arthur C. Clarke and Stanley Kubrick. Cinematography by Geoffrey Unsworth. Edited by Ray Lovejoy. Produced by Stanley Kubrick.Metro-Goldwyn-Mayer. April 3, 1968. Hilton scene occurs at time index 26 mins 54 sec.OCLC994028060.{{cite AV media}}: CS1 maint: others in cite AV media (notes) (link)
^Kennedy, Pagan (March 15, 2013)."Who Made That Cellphone?".The New York Times.Archived from the original on November 4, 2017. RetrievedDecember 15, 2017.
7,530 (2023)
US$1.15 billion (2023)
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