Finding banks too expensive and hotels overbooked, he made a deal with a property owner looking to sell. When his father died in 1919, he left the army and went to Texas with the intention of buying a small bank to capitalize on the oil boom at the time. In another few years he did turns in politics and banking. He worked as a trader, a clerk, a bellboy and a pianist all before he was 18. Hilton was born in New Mexico and was one of eight children. Through most of its history, the hotel chain was managed by Hilton family members since the company was created in 1919 by Conrad Hilton with the purchase of his first hotel. Since 2005, the company is among the sponsors of the United States Olympic Team. Some of the hotels under this portfolio include Waldorf Astoria Hotels and Resorts, Conrad Hotels and Resorts, Hilton Hotels and Resorts, Embassy Suites, Hampton Inn and Hampton Inn and Suites, Doubletree by Hilton, Hilton Garden Inn, Home2 Suites, Homewood Suites, and Hilton Grand Vacations. These are either owned, managed or franchised by the company. There are several brands that operate under the Hilton brand portfolio. These have an estimated 680,117 rooms in 91 countries. As of 2014, the company has over 4000 hotels under all the Hilton brands. In December 2013, the company returned to being a publicly held company in a second IPO worth an estimated $2.35 billion. Until 2013, Hilton was ranked 38 th in terms of size among privately held company by Forbes. After that, the headquarters moved to Fairfax County, Virginia. The headquarters were in Beverly Hills, California from 1969 till 2009. The company was created by Conrad Hilton in Cisco, Texas. The American company is now owned by the Blackstone Group, a multinational US private equity, investment banking, alternate asset management and financial services corporation. Hilton Hotels Corporation, now known as Hilton Worldwide, is a global hospitality business. In this article, we will look at 1) introduction to Hilton, 2) history, 3) business model, and 4) the USP of Hilton Hotels & Resorts. Among the top hotel chains in the world, Hilton Worldwide has a large number of hotel brands within its portfolio.
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