Hilton to unlock value


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.

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