Hilton Hotels Puts New Man at the Helm

30th October 2007 (Last Updated October 30th, 2007 11:17)

The Hilton Hotels Corp and the Blackstone Group are wasting no time in making changes following the closure of Blackstone’s US$26m takeover deal by naming a new CEO and president for the luxury hotel chain. Christopher J Nassetta will leave his posting at Host Hotels running leading bra

The Hilton Hotels Corp and the Blackstone Group are wasting no time in making changes following the closure of Blackstone’s US$26m takeover deal by naming a new CEO and president for the luxury hotel chain.

Christopher J Nassetta will leave his posting at Host Hotels running leading brands such as Marriott, W, Four Seasons and Fairmont to take over Hilton International, which has a 20 percent market share in the US.

Hilton also boasts a growing international portfolio thanks to Blackstone’s merging of other hotel names into the Hilton brand following its purchase.

Nassetta will oversea Blackstone-owned brands including the Hilton, Conrad, Doubletree, Embassy Suites, Hapton, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton and the Waldorf=Astoria Collection.

Blackstone says Nassetta will work closely with the CEO of Americas and global brands Thomas Keltner and Hilton International CEO Ian Carter.

Nassetta will take over from current Hilton CEO Stephen F Bollenbach, who retired following Blackstone’s buyout.

Current president and chief operating officer Matthew J Hart, who was first earmarked for Bollenbach’s job, has also announced his resignation but will retain his position as a member of the Board of Directors.

Nassetta, 45, has worked as president and CEO of Hilton Hotels Corp since 2000.

Since the buyout, Hilton Hotels has announced aggressive expansion plans, aiming to add 1,000 more international hotels in 10 years.

Blackstone is the main investor in Hilton Hotels, which has 2,896 properties in 76 countries.

By Penny Jones