Hilton Worldwide, the parent company behind Hilton Hotels, is moving forward with plans to take a spot on the New York Stock Exchange. The company has announced that it aims to raise as much as $2.4 billion in its initial public offering. The planned IPO would be the second-largest of 2013 - larger even than Twitter, which raised approximately $1.8 billion.
Hilton is currently owned by The Blackstone Group. The private equity company purchased the hotelier in 2007 for $26 million. Blackstone says that it will sell almost 49 million shares of the company in the IPO.