Hilton launches $1B share buyback program

Los Angeles /
Feb.February 24, 2017 10:45 AM

From the New York website: Hilton Worldwide Holdings announced it will buy back $1 billion in shares, as it moves forward with a reorganization of the business.

The company will pay a quarterly dividend of 15 cents a share, the Wall Street Journal reported. It will also change its name to Hilton Inc., according to the paper.

The conglomerate recently spun off most of its hotel properties into a publicly-traded real estate investment trust. The Blackstone Group took Hilton public in 2013.

Last October, Chinese shipping and aviation giant HNA Group bought a roughly 25 percent stake in Hilton Worldwide Holdings from Blackstone Group.

The corporate name change will come into effect on March 6, according to the paper. [WSJ]Miriam Hall


Related Articles

arrow_forward_ios
Cottonwood’s Mark Green and Silver Creek's Franck Ruimy with 8850 Sunset Blvd (8850 Sunset Blvd , LinkedIn, Stan Hope Capitol, Getty)
Reimagined Viper Room’s developer scores $60M loan
Reimagined Viper Room’s developer scores $60M loan
UCLA's Antonio Bernardo (UCLA)
UCLA Anderson’s Ziman Center top SoCal grad program for real estate: US News & World Report
UCLA Anderson’s Ziman Center top SoCal grad program for real estate: US News & World Report
CGI+ CEO Gidi Cohen and 5200 South J Street in Oxnard CA (CGI+, Google Maps)
CGI+ buys Ventura County apartment complex
CGI+ buys Ventura County apartment complex
Trelora CEO Brady Miller (Trelora, iStock)
Denver discount broker starts California challenge in LA
Denver discount broker starts California challenge in LA
Nile Niami and the mansion (Getty, Paul McClean)
Auction for Nile Niami’s “The One” delayed over dispute between lenders
Auction for Nile Niami’s “The One” delayed over dispute between lenders
1101 Flower Street in L.A. with  Tony Lombardo of Lendlease and Zhang Xifang of Oceanwide. Xifang reportedly resigned in July 2021. (Google Maps, Lendlease, Oceanwide)
Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
G6 Hospitality CEO Rob Palleschi and Motel 6 San Jose South, one of the largest assets in the portfolio (G6)
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
LoanCore Capital CEO Mark Finerman and 4707 Venice Boulevard (Google Maps)
Ralphs-anchored Mid-City mall nabs $64M refi
Ralphs-anchored Mid-City mall nabs $64M refi
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...