Hilton Hotels Corp. announced Wednesday that it will move its headquarters from Beverly Hills to the Washington D.C. area later this year.

The company said it was considering locations in Maryland and Virginia.

“Relocating to the D.C. area will significantly reduce our operating expenses and will position Hilton in a more central location from which to operate a global business, ease coordination across our organization, and better enable us to execute on strategic opportunities,” Hilton Chief Executive Christopher J. Nassetta said in a statement.

Hilton Hotels was bought by New York-based private equity firm Blackstone Group in 2007 for $20 billion. The hotel company operates more than 3,200 hotels and 545,000 rooms in 77 countries and territories, with 135,000 employees worldwide.

Hilton, which has around 250 employees, plans to make the move in the third quarter of 2009. The move could save the company tens of millions of dollars a year, according to Hilton spokeswoman Ellen Gonda.

“All companies are looking at the macro environment,” Gonda said, referring to the company’s business reorganization begun last year. “(The move is) not a cause and effect, but we’re applying a greater sense of urgency to what we’re doing.”