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  6. Park Hotels & Resorts Acquires Chesapeake Lodging Trust

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 (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
Employees91
Revenue 2.6B USD (2024)
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 M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Maryland M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
Size (of disclosed) 1 of 1
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