Blackstone acquires Hilton Hotels Corporation, appoints new president and CEO

Daily news, 30 Oct 2007: NEW YORK – Hilton Hotels Corporation and The Blackstone Group has appointed Christopher J. Nassetta as president and CEO of Hilton. He joins Hilton as the company moves into a new phase of growth, both in the U.S. and abroad. Nassetta will join Hilton Hotels Corp. from Host Hotels & Resorts, where he has been president and CEO since 2000. Prior to joining Host, Mr. Nassetta co-founded Bailey Capital Corporation in 1991, where he was responsible for the operations of the real estate investment and advisory firm. The Blackstone Groups real estate and corporate private equity funds completed the acquisition of Hilton on 24 October 24 2007. Blackstone views Hilton as an important strategic investment and intends to invest in its properties and brands to enhance the Companys growth. As president and CEO of Hilton, Nassetta will oversee Hilton brands such as Hilton, Conrad, Doubletree, Embassy Suites, Hampton, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, and The Waldorf Astoria Collection.Nassetta graduated from the University of Virginia McIntire School of Commerce with a degree in finance and studied international finance at the London School of Economics.

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