Hotel giant Hilton shortening its name

WASHINGTON — McLean-based Hilton Worldwide Holdings Inc. will change its corporate name to “Hilton Inc.” effective March 10.

Hilton didn’t disclose why its board had decided on the name change. The hotel chain is, indeed, worldwide with hotel properties in 104 countries.

Hilton also announced Friday its board had approved a stock repurchase program of up to $1 billion of the company’s common stock. Hilton stock (NYSE: HLT) has risen almost 43 percent in the last 12 months, currently trading at about $58 per share.

Hilton moved its corporate headquarters from Beverly Hills, California, to McLean, Virginia, in 2009.

The hotel chain is in aggressive growth mode. It opened, on average, one new hotel a day last year.

Last month, Hilton, which has more than 4,900 hotel properties worldwide, announced its latest hotel brand, Tapestry Collection by Hilton. Seven Tapestry Collection hotels will open initially with another 35 deals in the process.

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