MCLEAN, Va.–November 17, 2016–Hilton Worldwide Holdings, Inc. (NYSE: HLT) (“Hilton”) announced today that Matthew Sparks has been appointed executive vice president and chief investment officer of Park Hotels & Resorts (“Park”), the planned real estate investment trust that will be separated from Hilton around year-end.
Sparks will oversee Park’s investment and acquisition strategy. His appointment as chief investment officer will be effective upon completion of the spin-off, and he will report to Thomas J. Baltimore, Jr., president and chief executive officer (CEO), Park Hotels and Resorts.
“Matt is a great addition to the Park leadership team, and I am confident that his extensive acquisition and development experience will prove invaluable to our long-term success,” said Thomas J. Baltimore, Jr., president and CEO, Park Hotels & Resorts.
For the last five years, Sparks has served as Hilton’s senior vice president, luxury & corporate development, where he managed the company’s full service, corporate and luxury/lifestyle brand growth & development in North America. Most notably, Sparks led the team that completed the sale of the Waldorf Astoria New York to Anbang Insurance Group Co. Ltd. in 2015, and the subsequent purchase of six landmark hotels as part of a tax-deferred exchange.
Prior to Hilton, Sparks served as senior vice president of acquisitions at Sage Hospitality Resources. He has held senior development positions at Fairmont Raffles Hotels International, Wyndham Worldwide and Starwood Hotels & Resorts Worldwide. A graduate of Michigan State University’s School of Hospitality Business, Sparks currently serves on the university’s Alumni Board of Directors.
Upon completion of the spin-off, Park will be one of the largest lodging real estate companies, with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. The portfolio will consist of 67 premium-branded hotels and resorts with more than 35,000 rooms located in prime U.S. and international markets with high barriers to entry.