Add-on Acquisition • Real Estate

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 Context

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.

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M&A Deal Summary
Date	May 6, 2019
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 (Legal)

Target Company

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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