Blackstone Says Does Not Plan to Sell Any Hilton Brand


Blackstone Group said Monday it plans to invest in recently acquired Hilton Hotels and has no plans to sell any of the company's brands or major assets.

Blackstone also said Matthew Hart, previously designated to become Hilton's CEO after the retirement of Stephen Bollenbach, will step down as Hilton president and chief operating officer.

Hart will continue to serve on the company's board.

The Wall Street Journal reported earlier Monday that Blackstoneis expected to name Host Hotels & Resorts chief executive Christopher Nassetta as president and CEO of Hilton Hotels.

The newspaper said Nassetta will leave his post as head of the largest U.S. hotel real estate investment trust to lead Hilton after a four-to-six week transition period.

Representatives from Hilton and Host Hotels were not immediately available for comment.

As part of his new responsibilities, Nassetta will aim to "marry" Hilton's numerous lines -- including Embassy Suites, Doubletree and Hampton Inn -- with many of Blackstone's own hotels, the Wall Street Journal reported.

Nassetta will also be expected to build its luxury lines, the newspaper said.

Last week, Blackstone completed its $20 billion purchase of Hilton, wrapping up the largest deal in the lodging sector.

Hilton said the deal was financed with $20.6 billion in debt and about $5.7 billion of equity invested by funds affiliated with Blackstone.