M&A Deal Summary

Park Hotels & Resorts Acquires Chesapeake Lodging Trust

On May 6, 2019, Park Hotels & Resorts acquired real estate company Chesapeake Lodging Trust for 2.7B USD

Acquisition Highlights
  • This is Park Hotels & Resorts’ 1st transaction in the Real Estate sector.
  • This is Park Hotels & Resorts’ largest (disclosed) transaction.
  • This is Park Hotels & Resorts’ 1st transaction in the United States.
  • This is Park Hotels & Resorts’ 1st transaction in Maryland.

M&A Deal Summary
Date 2019-05-06
Target Chesapeake Lodging Trust
Sector Real Estate
Buyer(s) Park Hotels & Resorts
Deal Type Add-on Acquisition
Deal Value 2.7B USD
Advisor(s) J.P. Morgan Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison
Polsinelli PC (Legal)

Target

Chesapeake Lodging Trust

Annapolis, Maryland, United States
website
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. Chesapeake Lodging Trust was founded in 2009 and is based in Annapolis, Maryland.

Search 193,711 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Park Hotels & Resorts

Tysons, Virginia, United States

website

Category Company
Founded 2017
Sector Leisure
Employees91
Revenue 2.5B USD (2022)
DESCRIPTION

Park Hotels & Resorts is a real estate investment trust with a diverse portfolio of hotels and resorts. Park’s portfolio currently consists of premium-branded hotels and resorts with over 30,000 rooms located in prime U.S. markets. Park Hotels & Resorts is based in Tysons, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal