BEIJING, July 5 (Xinhuanet) -- Private equity giant Blanckstone Group will become the world's biggest hotel for its purchase of Hilton Hotels Corporation, replacing Britain's InterContinental Hotels, the MKG Consulting cabinet said Wednesday.

    Hilton Hotels Corporation agreed to an all-cash buyout from Blacktone in a 20.1 billion U.S. dollars deal Tuesday.

    Blackstone said it would combine cash from its real estate and corporate private equity funds to buy all outstanding Hilton shares for 47.50 U.S. dollars each.

    After Hilton's board approved the terms, the company said the deal would close in the fourth quarter pending shareholder approval.

    Blanckstone will be adding Hilton, with more than 2,800 hotels and 480,000 rooms, to a list of hotels it has purchased over the past two years.

    Before the purchase Blackstone owns more than 100,000 hotel rooms in the United States and Europe, including La Quinta Inns and Suites as well as LXR Luxury Resorts and Hotels.

    With the purchase of Hilton, Blanckstone will have a total of about 600,000 rooms, of which 560,000 are wholly owned.

    InterContinental Hotels, which has had the number one ranking for the past four years, on January 1 had more than 3,700 hotels and 550,000 rooms throughout the world.

    (Agencies)