Wyndham is following a path taken by other large hotel operators. Hilton Worldwide Holdings Inc in January spun off its real estate into Park Hotels & Resorts Inc and its timeshare business into Hilton Grand Vacations Inc. Marriott International Inc took similar steps in 1993, when it created what is now Host Hotels & Resorts Inc, the largest US hotel real estate investment trust. Timeshare companies have been strong stock-market performers in the past year. Marriott Vacations Worldwide Corp is up more than 54 per cent, and Hilton Grand Vacations Inc is up more than 38 per cent since it began trading in December. Wyndham had hinted at spinoff plans in its past few earnings calls.