February 29, 2016 Comments Off on Hilton Spinning off Assets, Becomes Operating Entity Views: 1227 California News, National News

Hilton Spinning off Assets, Becomes Operating Entity

Hilton Worldwide plans to spin off its timeshare business unit, as well as the majority of its real estate into separate companies. The company is placing roughly 70 hotels into a REIT, while Hilton Grand Vacations, its timeshare business, is becoming a separate, publicly traded company.

Hilton Worldwide becomes an operating company that’s focused on the management, branding and franchise business, and will also own some hotels. The new timeshare entity will manage about 50 club resorts in the U.S. and Europe and will continue to operate, market and sell under the Hilton Grand Vacations brand.

Hilton says the spinoff will result in three “pure-play” companies focused on “growth opportunities, as well as capital market and tax efficiencies.”

Read More at Los Angeles Times


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