Hilton Selling $1 Billion Loyalty Points to American Express
Photographer: Andrew Harrer/Bloomberg
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Hilton Worldwide Holdings Inc. is raising cash by selling loyalty points and offering bonds as the company rides out the coronavirus crisis.
The company said it pre-sold $1 billion worth of points in its Hilton Honors loyalty program to American Express Co., and plans to use the proceeds for working capital and general corporate purposes. Hilton also plans to offer $500 million in senior unsecured notes, the company said in a filing.