Blackstone Appoints New CEO at Hilton

The Blackstone Group has named Christopher Nassetta as president and CEO of Hilton Hotels Corp. Mr. Nassetta, president and CEO of Host Hotels and Resorts, replaces Stephen Bollenbach, who retired last week when Blackstone completed its acquisition of Hilton.

Host Hotel’s board, meanwhile, appointed its CFO, W. Edward Walter, to succeed Mr. Nassetta as president and CEO, effective immediately. Mr. Nassetta, however, said he will remain at Host until the end of November to help with the transition.

In making the announcements, Blackstone reiterated that it has no intention of selling any brands or major assets as a result of the transaction. Its strategy, Blackstone said, is to continue strong growth.