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Hilton Buying Back $1B In Shares, Changing Name

Hilton Hotel
Photo credit: Wikimedia/Mark Hardie
A Hilton Hotel In Las Vegas

Topping off its major business reorganization, Hilton Worldwide Holdings Inc. announced plans to buy back $1B worth of shares and change its name to Hilton Inc.

Hilton completed its REIT spinoff in January and separated its time-share business, effectively morphing the company into three entities: Hilton Inc., Park Hotels & Resorts Inc. and Hilton Grand Vacations Inc., the Wall Street Journal reports. The firm also announced it will pay a quarterly dividend of 15 cents per share.

The name change is set to take place March 6. The firm will still trade under the HLT symbol on the New York Stock Exchange.

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