Hyatt Hotels plans to raise up to $1.15bn in an initial share sale to bolster its finances and fund acquisitions at a time of scarce credit.

The offering may be the largest in the US this year, according to data compiled by Bloomberg, and comes two years after Hyatt sold a $1bn stake to investors including Goldman Sachs Capital Partners and Madrone Capital, a firm that has been affiliated with Wal-Mart Stores chairman Rob Walton.

About 50 publicly traded real estate businesses have raised $15.7bn through equity sales in the first half, according to the National Association of Real Estate Investment Trusts.

bloomberg.com