Hilton Worldwide Holdings Inc. (NYSE:HLT) Files An 8-K Other Events
Item8.01
| Other Events. |
On December5, 2016, Hilton Worldwide Holdings Inc. (Hilton)
issued a press release announcing that its Board of Directors
(the Board) approved the distribution to Hiltons stockholders of
all of the outstanding shares of Park Hotels Resorts Inc. (Park),
which will become the holder of a portfolio of hotels and resorts
previously held by Hilton, and Hilton Grand Vacations Inc. (HGV),
Hiltons timeshare business. Hilton stockholders of record will
receive one share of Park common stock for each five shares of
Hilton common stock and one share of HGV common stock for each 10
shares of Hilton common stock held at the close of business on
December15, 2016, the record date for the distribution. The
spin-off
transactions are expected to be completed on January3, 2017, and
Park and HGV are expected to begin regular-way trading on the New
York Stock Exchange under the ticker symbols PK and HGV,
respectively, on January4, 2017.
Hilton also
announced that, following its stockholders October 2016 approval
of three alternative amendments to Hiltons amended and restated
certificate of incorporation to effect a reverse stock split of
Hilton common stock at a ratio determined by the Board, the Board
has approved a 1-for-3 reverse stock split.
The reverse stock split will be effective after market close on
January3, 2017.
The press release announcing
these matters is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
CAUTIONARY LANGUAGE
CONCERNING FORWARD-LOOKING STATEMENTS
Information set forth in this
Current Report (including the exhibit attached hereto) contains
forward-looking statements within the meaning of the federal
securities laws and the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are subject to a number
of risks and uncertainties. A discussion of factors that may
affect future results is contained in Hiltons Annual Report on
Form 10-K for the year ended December31, 2015, as such factors
may be updated from time to time in Hiltons periodic filings with
the Securities and Exchange Commission. Hilton disclaims any
obligation to update forward-looking statements, except as may be
required by law.
| Item9.01 | Financial Statements and Exhibits |
(d)
Exhibits.
|
ExhibitNo. |
Description |
|
| 99.1 | Press release, dated December5, 2016. |
About Hilton Worldwide Holdings Inc. (NYSE:HLT)
Hilton Worldwide Holdings Inc. is a hospitality company. The Company is engaged in owning, leasing, managing, developing and franchising hotels, resorts and timeshare properties. It operates through three segments: management and franchise, ownership and timeshare. It has approximately 4,610 hotels, resorts and timeshare properties comprising over 758,502 rooms in approximately 100 countries and territories. Its ownership segment consists of over 150 hotels with approximately 59,460 rooms. Through management and franchise segment, it consists of over 4,420 hotels with approximately 691,890 rooms. It manages hotels, resorts and timeshare properties owned by third parties and licenses its brands to franchisees. Through the timeshare segment, it consists of over 45 properties comprising approximately 7,150 units. Its brand portfolio includes Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Grand Vacations, Hilton Garden Inn and DoubleTree by Hilton, among others. Hilton Worldwide Holdings Inc. (NYSE:HLT) Recent Trading Information
Hilton Worldwide Holdings Inc. (NYSE:HLT) closed its last trading session up +0.05 at 25.26 with 9,187,654 shares trading hands.
