Hilton to Spin Off Hotels to Boost Shareholder Value
by Jessica MontevagoHilton Worldwide said Friday it will spin off its hotel properties into a real estate investment trust, or REIT, and create a separate publicly traded timeshare business.
The REIT will include about 70 properties, while the timeshare business, Hilton Grand Vacations, will manage almost 50 club resorts in the United States and Europe. Both spinoffs are expected to be completed by the end of the year.
The deal still needs to be approved by Hilton’s board.
