Executives to highlight the business strategies for Hilton, Park Hotels & Resorts, and Hilton Grand Vacations
MCLEAN, Va. – Hilton Worldwide Holdings (NYSE: HLT) ("Hilton") will host an Investor Day in New York today to discuss the company's strategy and financial outlook in conjunction with the planned spin-offs of Park Hotels & Resorts and Hilton Grand Vacations.
The event will feature presentations by members of Hilton's senior leadership team including Christopher J. Nassetta, president & chief executive officer, and Kevin Jacobs, executive vice president & chief financial officer. Thomas J. Baltimore, Jr., chairman, president & chief executive officer of Park Hotels & Resorts ("Park"), and Mark Wang, president & chief executive officer of Hilton Grand Vacations ("HGV"), are also scheduled to present.
"We look forward to sharing details of our financial outlook and the strategic initiatives that we believe will fully activate all three businesses and deliver long-term shareholder value," said Christopher J. Nassetta, president & chief executive officer, Hilton. "We are also excited to share the potential of the new, simplified Hilton, which we believe will generate meaningful returns to shareholders through its resilient, fee-based business with low capital requirements."
During the Investor Day, Hilton will highlight:
- Its post-spin-off, simplified, resilient fee-based business with 90% of adjusted EBITDA from fees, low capital requirements, and significant free cash flow.
- Its portfolio of 13 industry-leading brands and commercial service platforms, which should continue to drive enhanced guest experiences and greater returns for owners, as indicated by a 14 percent global RevPAR premium[1].
- With global rooms under construction approximately 4.5 times larger than its share of existing supply, Hilton remains well-positioned to continue to deliver market-leading organic net unit growth.
- Plans to expand capital return to shareholders through share buybacks and quarterly dividends, which could total $3.0 to $4.5 billion between 2017 and 2019.
A live webcast of the Investor Day will begin at 8:30 a.m. Eastern Time. The webcast and corresponding presentations may be accessed at http://ir.hiltonworldwide.com/events-and-presentations/investor-day. A replay of the event will be available following the completion of the meeting.
The spin-off transactions have been approved by the Hilton Board of Directors and are expected to be completed on January 3, 2017. Park and HGV will begin regular-way trading on the New York Stock Exchange (NYSE) under the ticker symbols "PK" and "HGV," respectively, on January 4, 2017.
[1]Source: STR (12 months ended 12/31/2015). "RevPAR" or "Revenue per Available Room" represents hotel room revenue divided by room nights available to guests for a given period.
