SEATTLE: Hilton Worldwide Holdings Inc said it would spin off its lodging properties and timeshare business into separate publicly traded companies in a bid to boost shareholder value as the world’s largest hotel operator faces increased competition.
About 70 of the company’s 146 owned and leased properties – mainly the US hotels – will be spun off into a real estate investment trust, chief executive officer Christopher Nassetta said on a conference call last Friday.
Already a subscriber? Log in.
Subscribe now for a chance to win your dream holiday!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
