Nearly 10 months after announcing plans to spin off its real estate and timeshare businesses, Hilton Worldwide Holdings Inc. (NYSE: HLT) is expected to officially split into three Tuesday.
The transaction will create two new public companies: a real estate investment trust called Park Hotels & Resorts and the timeshare business Hilton Grand Vacations. Shares of both will begin trading Wednesday morning on the New York Stock Exchange. Park will use the ticker “PK” and Hilton Grand Vacations “HGV.”
Source: Washington Business Journal