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Park Hotels to snap up Chesapeake Lodging Trust for $2.7B

DATE POSTED:May 6, 2019

Park Hotels is set become the second largest lodging real estate investment trust through the acquisition of Chesapeake Lodging Trust in a deal valued at $2.7 billion. With the addition of Chesapeake, Park Hotels would operate 66 hotels in 17 U.S. states and Washington, D.C., Bloomberg reported. Chesapeake Lodging Trust has 20 properties, including the JW Marriott San Francisco Union Square and the Royal Palm South Beach Miami. It’s set to sell five of its […]