On December 5, Hilton Worldwide Holdings shareholders approved the spinoff of the Park Hotels & Resorts and Hilton Grand Vacations (HGV) divisions, which will be listed on the New York Stock Exchange.
Shareholders will receive 2 Park shares and 1 HGV share for every 10 Hilton shares held. Following the distribution, the company will perform a 1-for-3 reverse stock split. The transactions are expected to close on January 3, and Park and HGV will be traded on the stock exchange starting January 4, 2017.
Source: Profit
Frequently Asked Questions
Which divisions is Hilton Worldwide Holdings spinning off?
The company is spinning off its Park Hotels & Resorts and Hilton Grand Vacations (HGV) divisions into independent, publicly traded companies.
When will the new entities begin trading?
Park Hotels and Hilton Grand Vacations are scheduled to begin trading on the New York Stock Exchange on January 4, 2017.
What is the share distribution ratio for Hilton shareholders?
Shareholders will receive 2 shares of Park and 1 share of HGV for every 10 Hilton shares they currently hold.