Hilton Worldwide Holdings announces that Form 10 Registration Statements have been filed with the US Securities and Exchange Commission (SEC) for its timeshare business and the bulk of its real estate business in connection with the previously announced plans to pursue a separation into three distinct, publicly traded companies.
The filings provide detailed information on the business, strategy and historical financial results of both entities on a “carve-out” basis, as well as further details on licence and management agreements between the companies going forward. The filings will be updated with additional information in subsequent amendments as further information on the transactions is finalised prior to separation, which is expected to be completed by the end of the year.
“The filing of the Form 10 Registration Statements is an important milestone in simplifying Hilton to a capital-light, fee-based business, while fully activating our real estate and timeshare businesses as stand-alone companies,” said Christopher J. Nassetta, president and chief executive officer.
“As a result of the proposed transactions, we expect to unlock growth opportunities that are embedded within the three businesses and take advantage of capital market and tax efficiencies. We look forward to completing the spins later this year, realising significant benefits for all three companies and continuing to generate long-term value for Hilton shareholders.”
Hilton moves on revamping structure
