Market Overview

Park Hotels & Resorts Inc. Appoints Thomas C. Morey as Executive Vice President & Chief Investment Officer


Park Hotels & Resorts Inc. (NYSE:PK) ("Park") today announced the appointment of Thomas C. Morey as Executive Vice President & Chief Investment Officer. Mr. Morey will replace Matthew A. Sparks who is no longer employed by Park.

Mr. Morey most recently has served as Park's Executive Vice President & General Counsel. He joined Park in 2016 as part of the executive team recruited by Chairman & Chief Executive Officer Thomas J. Baltimore to lead the spin-off of Park from Hilton. Since the spin-off, Mr. Morey has led the execution of Park's most significant transactions, including Park's merger with Chesapeake Lodging Trust and repurchase of common shares from HNA Tourism Group Co., Ltd. As well, Mr. Morey played an integral role in Park's successful dispositions of 22 non-core assets for nearly $1 billion. Prior to Park, Mr. Morey served as General Counsel of Washington REIT, a diversified real estate investment trust. Earlier in his career, Mr. Morey was a corporate partner with Hogan & Hartson LLP, a multi-national law firm (now Hogan Lovells US LLP), where he focused on capital markets transactions, mergers and acquisitions and strategic investments for lodging, residential, office, retail and other REITs.

"Tom Morey has led the execution of Park's most important transactions to date – and is an experienced, disciplined and strategic executive," said Mr. Baltimore. "Tom's transition to an even more impactful role is well deserved – and I am confident that he will continue to make significant contributions to our future growth. I also want to thank Matt Sparks for his contributions to Park and wish him well in his future endeavors."

Mr. Morey will retain the General Counsel role on an interim basis until his successor is appointed.

About Park Hotels & Resorts

Park Hotels & Resorts Inc. (NYSE:PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 62 premium-branded hotels and resorts with approximately 34,000 rooms primarily located in prime U.S markets with high barriers to entry.

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