Hilton Hotels Corporation (HHC), the American hotels behemoth, has accepted a bid worth $26 billion (£12.9 billion) from Blackstone, the American private equity firm.

The buyout firm's offer is worth $47.50 a share, a premium of 32 per cent to yesterday's close on Wall Street of $36.05, itself a rise of 6.4 per cent on the day as rumours of a deal filtered into the market.

Analysts said that the level of the bid would make it difficult for any counter-bidder to enter the fray.

The Blackstone offer, which values HHC at $20 billion before about $6 billion of debt, is the biggest deal in the history of the hotel industry.

News of the deal sent shares of InterContinental Hotels Group, the subject of persistent bid rumours, up 59p — or almost 5 per cent — to £13.17 in morning trading in London.

The private equity firm is expected to combine Hilton with its existing hotel businesses, La Quinta Inns and Suites and the LXR collection, which together have more than 100,000 rooms in the US and Europe.

It is also believed to be among the favourites to buy Alliance Hospitality, of France, which is being sold Goldman Sachs's property arm for an estimated £420 million.

Blackstone said that it viewed Hilton as an important strategic investment and did not plan significant divestitures as a result of the deal.

Jonathan Gray, senior managing director of Blackstone, said: “It is hard to imagine a better strategic fit for us than Hilton, with its world-class people, brands and network of hotels.”

The HHC deal, which is expected to complete in the fourth quarter of this year, will be the latest in a string of North American hotel companies to be taken private, including Four Seasons, Fairmont, Equity Inns and Wyndham.

Harrah’s, the casino operator, fell to private equity last year.

The move to take HHC private follows the reunification of the Hilton brand last year through HHC’s £3.3 billion acquisition of Hilton International from what is now Ladbrokes, the bookmaker.

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