Skift Take
Blackstone didn't come in and suck the life out of Hilton Worldwide, but turned it into an organization that other hotel chains emulate. With its IPO imminent, Hilton will pay down a bunch of debt, and will find itself in an even more advantageous position.
Hilton Worldwide CEO Christopher Nassetta told potential investors during its IPO roadshow that the chain was a "totally dysfunctional organization" prior to Blackstone's 2007 acquisition.
The hand-picked Nassetta came on board from Host Hotels and Resorts in October 2007, five days after the acquisition closed.
Cost containment under the prior Hilton regime?
"Let's just say there was none" at either the chain or property level, Nassetta remarked to investors during the roadshow.
Private Company Gets Candid About Its Roots
As a private company, Hilton executives usually don't dish in public on past transgressions, but in crafting a plot line about Hilton's growth story and "transformation" in preparat
