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Hotels

Hilton's Two Spin-Offs Are Finally Complete

Deanna Ting

Photo Credit: A rendering of the Hilton Cleveland Downtown. Hilton Worldwide just completed the spin offs of its real estate investment trust and timeshare businesses.  Hilton Hotels & Resorts / Dave Siegel/Siegel Photographic Inc.

Skift Take

What will be really interesting is how Hilton proceeds as a new asset-light company, and one with a new major stakeholder by the end of the first quarter: China's HNA Group, the same new owner of Carlson Hotels.

As of January 4, Hilton Worldwide as we previously knew it no longer exists. Instead, Hilton Worldwide Holdings has officially completed the spin-offs of Park Hotels & Resorts, a lodging real estate investment trust (REIT), and Hilton Grand Vacations Inc. (HGV), its timeshare business. All three entities are now independent, publicly traded companies. Park and HGV began trading on the New York Stock Exchange today, and Hilton also initiated a one-for-three reverse stock split, and will continue trading under the ticker symbol HLT. McLean, Virginia-based Hilton Worldwide, the hotel management company which currently has 13 brands, will retain its executive leadership with president and CEO

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