Hilton Worldwide Completes Restructuring of Existing Debt

Hilton Worldwide Completes Restructuring of Existing Debt

Hilton Worldwide announced today that it has completed a restructuring of substantially all of its existing debt. The restructuring extends the maturity of this debt until November 2015 and reduces the company’s total debt by nearly $4 billion. The transaction was effected through the purchase and retirement of $1.8 billion of debt and the conversion of $2.1 billion of junior mezzanine
debt to preferred equity.

“This debt restructuring is another important step forward for the company, and I would like to thank all of our lenders as well as our investors, led by Blackstone, for their tremendous efforts in completing this transaction,” said Christopher J. Nassetta, President & Chief Executive Officer, Hilton Worldwide. “Together with several recent achievements, Hilton Worldwide is positioned very well to capitalize on the recovery in the hospitality industry.”

Among many recent accomplishments, Hilton Worldwide.

- Added 302 new hotels in 2009, the second most in the company’s 91-year history.

- Became the leading hotel company in the U.S. by number of open and operating rooms.*
- Has more rooms under construction outside the U.S. than within the U.S. for the first time in the company’s history.


- Maintained a robust development pipeline that includes more than 900 hotels in 57 countries.

- Surpassed a record 25 million members for Hilton HHonors, the loyalty program for Hilton Worldwide’s portfolio of hotel brands, after the largest enrollment year in the program’s history in 2009.

- Received the People’s Choice Stevie® Award for “Sales & Customer Service – Favorite Customer Service in Leisure and Tourism” in this international competition that recognizes excellence in disciplines crucial to business success.

- Ranked the highest in brand equity with its Hilton brand compared to all the other major hotel brands in the industry in the 2010 EquiTrend® study conducted by Harris Interactive, a leading global market research firm.

- Opened the 500th hotel for its Hilton Garden Inn brand – a number that was achieved in just 14 years and that is still rapidly growing with hotels either opened or soon to open in 11 countries around the world.

- Was honored by the Business Travel News 2010 U.S. Hotel Chain Survey for several of its brands across multiple categories, including Hampton Hotels which was named the best hotel brand in the Midprice Tier.

- Enabled Home2 Suites by Hilton to become the fastest growing brand in Hilton Worldwide’s history with 100 properties scheduled to open by the end of 2013 in the U.S., Canada and Mexico.