Blackstone considers breaking up chunks of hotel giant Hilton

PRIVATE equity firm Blackstone is preparing to break up its investment in the Hilton hotel giant chain under plans to realise value from the group.<br /><br />The plans, which come ahead of debt repayments three and four years away, are believed to be at an early stage. <br /><br />The business is still mulling options for the hotel group, including public listings of part of the chain along geographic lines, debt-for-equity swaps, as well as a trade sale of some of its hotels to peers.<br /><br />Blackstone bought the hotel chain for $26bn in 2007 at the peak of the buyout bubble, financed by $20.6bn of debt and about $5.7bn of equity.<br /><br />Last month it was revealed that Blackstone has already written down its investment in Hilton Hotels by nearly half at the end of 2008.