Matthew Sparks Appointed Chief Investment Officer of Park Hotels & Resorts
November 17, 2016 1:45pm
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.
Tags: park hotels & resorts,
Hilton (NYSE: HLT) is a leading global hospitality company, comprising more than 4,800 managed, franchised, owned and leased hotels and timeshare properties with nearly 789,000 rooms in 104 countries and territories. For 97 years, Hilton has been dedicated to continuing its tradition of providing exceptional guest experiences. The company's portfolio of 13 world-class global brands includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®. Hilton HHonors members who book directly through preferred Hilton channels have access to benefits including an exclusive member discount, free standard Wi-Fi, as well as digital amenities that are available exclusively through the industry-leading Hilton HHonors app, where Hilton HHonors members can check-in, choose their room, and access their room using a Digital Key. Visit news.hiltonworldwide.com for more information.
Contact: Christian Charnaux
Contact: Nigel Glennie
Contact: Park Hotels & Resorts Contact -
Christopher Akoury Named General Manager of Embassy Suites by Hilton Parsippany
Park Hotels & Resorts Inc. Names Carl A. Mayfield Executive Vice President—Design & Construction
Starwood Capital Group Acquires Portfolio of Seven Hilton Hotels Throughout the United Kingdom
Park Hotels & Resorts Inc. Sells the Hilton Rotterdam, Netherlands, for Approximately $62 Million, or $245,000 per Key
Hilton and Fess Parker Family Announce Extensive Remodel and Rebranding of Santa Barbara's Iconic Beachfront Resort
Park Hotels & Resorts Reports Q1 2017 Net Income of $2.4 Million; Comparable RevPAR Increased 1.4%
Park Hotels & Resorts Inc. Reports Q4 2016 Net Income of $17 Million, a Decrease of 75.4%; Pro-forma RevPAR Down 0.8%
Hilton Completes Spin-off of Park Hotels & Resorts and Hilton Grand Vacations
Hilton Introduces Leadership Team for Planned REIT, Park Hotels & Resorts
HNA Group Makes Strategic Investment in Hilton with Acquisition of 25% Equity Interest from Blackstone
Hilton's Matthew Sparks Explains $1.9 Billion Sale of Waldorf Astoria NY to MSU Hospitality Students
Please login or register to post a comment.