Private equity firm Blackstone has appointed Christopher Nassetta, currently chief executive of Host Hotels & Resorts, as the new president and chief executive of recently acquired Hilton Hotels Corporation.
Nassetta, who joins at the end of the month, will be charged with accelerating the expansion of Hilton's brands, which include Doubletree, Hampton Inn and Waldorf-Astoria, especially outside the USA.
Nassetta succeeds Stephen Bollenbach, who retired, as planned, with the completion of Blackstone's acquisition of Hilton.
His appointment came at the expense of Matthew Hart, who had previously been designated to become Hilton's chief executive. Hart will step down as Hilton's president and chief operating officer but will continue to serve on the company's board.
At Host Hotels, Nassetta will be replaced by Edward Walter, currently chief financial officer.
Blackstone said it has no plans to sell any of Hilton's brands or major assets.
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By Daniel Thomas
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