Park Hotels And Resorts Acquisition

The acquisition of chesapeake increases park s total enterprise value to over 10 billion solidifying its position as the second largest publicly traded lodging reit.

Park hotels and resorts acquisition. More than 85 of the rooms will be in the luxury or upper upscale segments. Park hotels resorts inc. Park s portfolio currently consists of 48 premium branded hotels and resorts with over 29 000 rooms located primarily in prime u s. Pk has agreed to buy arlington based chesapeake lodging trust creating a lodging real estate investment trust with an estimated value of 12 billion.

Park hotels resorts operates high quality resorts and upper upscale hotels in the united states. Announced it has secured a 950 million loan from bank of america to finance its previously announced acquisition of chesapeake lodging trust. On a combined basis park s portfolio now consists of 66 hotels with over 35 000 rooms located primarily in prime city center and resort locations. Pk is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market leading hotels and resorts with significant.

On a combined basis park s portfolio now consists of 66 hotels with over 35 000 rooms located primarily in prime city center and resort locations. When the spinoff is completed the company will have 69 hotels comprising nearly 36 000 guestrooms in its global portfolio the company said. Park hotels resorts will focus on premium assets with a scaled platform and strong growth potential according to the release. Markets with high barriers to entry.

The acquisition of chesapeake increases park. Tysons based park hotels resorts inc. Park hotels resorts inc. Following this acquisition our portfolio consists of 66 premium branded hotels and resorts with over 35 000 rooms primarily located in prime city center and resort locations.

The reit s acquisition of chesapeake should improve the quality of its existing portfolio.