(Reuters) - Hilton Worldwide said on Thursday it had authorized the repurchase of an additional $3.5 billion worth of common stock under the hotel giant's existing repurchase program. This brings the total amount currently authorized for future repurchases by Hilton to about $4.8 billion.

Per the terms of the buyback allowance, Hilton ( HLT) may purchase shares in the open market, in privately negotiated transactions or in such other manner as determined by the company including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission.