Name of reporting persons:

Hilton Hotels Holdings LLC

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    729,584,173

Shared voting power:

    0

Sole dispositive power:

    729,584,173

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    729,584,173

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    74.1%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

Blackstone A23 Holdings LLC

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    22,908,571

Shared voting power:

    0

Sole dispositive power:

    22,908,571

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    22,908,571

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    2.3%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

BH Hotels Holdco LLC

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    729,584,173

Shared voting power:

    0

Sole dispositive power:

    729,584,173

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    729,584,173

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    74.1%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

Blackstone Real Estate Partners VI L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    PN

Name of reporting persons:

Blackstone Capital Partners V L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    PN

Name of reporting persons:

Blackstone Management Associates V L.L.C.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

BMA V L.L.C.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

Blackstone Real Estate Associates VI L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

BREA VI L.L.C.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    0

Shared voting power:

    752,492,744

Sole dispositive power:

    0

Shared dispositive power:

    752,492,744

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

Blackstone Holdings III L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Quebec, Canada

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    PN

Name of reporting persons:

Blackstone Holdings III GP L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    PN

Name of reporting persons:

Blackstone Holdings III GP Management L.L.C.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

The Blackstone Group L.P.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    PN

Name of reporting persons:

Blackstone Group Management L.L.C.

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    OO

Name of reporting persons:

Stephen A. Schwarzman

Check the appropriate box if a member of a group

(a)  ¨        (b)  x

SEC use only

Citizenship or place of organization:

    United States

Number of

shares

beneficially

owned by

each

reporting

person

with

Sole voting power:

    752,492,744

Shared voting power:

    0

Sole dispositive power:

    752,492,744

Shared dispositive power:

    0

Aggregate amount beneficially owned by each reporting person:

    752,492,744

Check box if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

Percent of class represented by amount in Row (9):

    76.4%

Type of reporting person (see instructions):

    IN

7930 Jones Branch Drive, Suite 1100,

McLean, Virginia, 22102

c/o The Blackstone Group L.P.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

Blackstone A23 Holdings LLC

c/o The Blackstone Group L.P.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

BH Hotels Holdco LLC

c/o The Blackstone Group L.P.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

Blackstone Real Estate Partners VI L.P.

c/o The Blackstone Group L.P.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

Blackstone Capital Partners V L.P.

c/o The Blackstone Group L.P.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

Blackstone Management Associates V L.L.C.

c/o The Blackstone Group L.P.

345 Park Avenue

Hilton Hotels Holdings LLC directly holds 729,584,173 shares of Common Stock and Blackstone A23 Holdings LLC (“Blackstone A23”, and together with Hilton Hotels Holdings LLC, the “Blackstone Vehicles”) directly holds 22,908,571 shares of Common Stock.

The sole member of Hilton Hotels Holdings LLC is BH Hotels Holdco LLC (“BH Hotels”). The managing members of each of BH Hotels and Blackstone A23 Holdings LLC are Blackstone Real Estate Partners VI L.P. and Blackstone Capital Partners V L.P. The general partner of Blackstone Capital Partners V L.P. is Blackstone Management Associates V L.L.C. The sole member of Blackstone Management Associates V L.L.C is BMA V L.L.C. The general partner of Blackstone Real Estate Partners VI L.P. is Blackstone Real Estate Associates VI L.P. The general partner of Blackstone Real Estate Associates VI L.P. is BREA VI L.L.C. The managing member of each of BREA VI L.L.C. and BMA V L.L.C. is Blackstone Holdings III L.P.

The general partner of Blackstone Holdings III L.P. is Blackstone Holdings III GP L.P. The general partner of Blackstone Holdings III GP L.P. is Blackstone Holdings III GP Management L.L.C. The sole member of Blackstone Holdings III GP Management L.L.C. is The Blackstone Group L.P. The general partner of The Blackstone Group L.P. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone’s senior managing directors and controlled by its founder, Stephen A. Schwarzman.

Each such Reporting Person may be deemed to beneficially own the Common Stock beneficially owned by the Blackstone Vehicles directly or indirectly controlled by it or him, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than the Blackstone Vehicles to the extent they directly hold shares of Common Stock) is the beneficial owner of Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares of Common Stock. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a “group” for the purposes of Sections 13(d) and 13(g) of the Act.

(a)    Amount beneficially owned:

Calculations of the percentage of shares of Common Stock beneficially owned assume 984,615,364 shares of Common Stock outstanding as disclosed in the final prospectus of the Company filed pursuant to Rule 424(b)(4) on December 13, 2013. As of the date hereof, each of the Reporting Persons may be deemed to be the beneficial owner of the shares of Common Stock listed on such Reporting Person’s cover page. Hilton Hotels Holdings LLC directly holds 729,584,173 shares of Common Stock and Blackstone A23 Holdings LLC (“Blackstone A23”, and together with Hilton Hotels Holdings LLC, the “Blackstone Vehicles”) directly holds 22,908,571 shares of Common Stock.

(b)    Percent of class:

As of the date hereof, each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of shares of Common Stock listed on such Reporting Person’s cover page.

(c)    Number of Shares as to which the Reporting Person has:

(i)     Sole power to vote or to direct the vote:

See each cover page hereof.

(ii)    Shared power to vote or to direct the vote:

See each cover page hereof.

(iii)  Sole power to dispose or to direct the disposition of:

See each cover page hereof.

(iv)   Shared power to dispose or to direct the disposition of:

See each cover page hereof.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:  ¨

Not applicable.

Not applicable.

Not applicable.

Not Applicable.

Not applicable.