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
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.

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Buyer(S) 1

Buyer

Park Hotels & Resorts

Tysons, Virginia, United States
Category Company
Founded 2017
Sector Leisure
Employees90
Revenue 2.7B USD (2023)
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