Hilton Files Form 10 Registration Statements For Planned Spin-Offs Into 3 Firms

(RTTNews) - Hilton Worldwide Holdings Inc. (HLT) announced Thursday that it has filed Form 10 Registration Statements with the U.S. Securities and Exchange Commission or SEC for its timeshare business and the bulk of its real estate business. The filing is in connection with the previously announced plans to pursue a separation into three distinct, publicly traded companies.

The filings included detailed information on the business, strategy and historical financial results of both entities on a "carve-out" basis, as well as further details on license and management agreements between the companies going forward.

The company said the filings will be updated with additional information in subsequent amendments as further information on the transactions is finalized prior to separation.

Hilton expects the separation to be completed by the end of the year.

Christopher Nassetta, President & Chief Executive Officer of Hilton, stated that the filing is an important milestone in simplifying Hilton to a capital-light, fee-based business, while fully activating real estate and timeshare businesses as stand-alone companies.

"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," Nassetta added.