Park Hotels & Resorts appointed Thomas C. Morey EVP/chief investment officer, where he replaces Matthew A. Sparks. Morey, who already held the title EVP, also will retain his role as general counsel on an interim basis until his successor is appointed.
Morey joined Park in 2016 as part of the executive team recruited by Chairman/CEO Thomas J. Baltimore to lead the spin-off of Park from Hilton. Since then, he has led the execution of some of the company’s most significant transactions, including its merger with Chesapeake Lodging Trust and the repurchase of common shares from HNA Tourism Group Co. Additionally, Morey played a role in Park’s dispositions of 22 noncore assets for nearly $1 billion.
Before Park, Morey served as general counsel of Washington REIT. Earlier in his career, he was a corporate partner with Hogan & Hartson, a multinational law firm (now Hogan Lovells US), where he focused on capital markets transactions, mergers and acquisitions and strategic investments for lodging, residential, office, retail and other real estate investment trusts.
“Tom Morey has led the execution of Park’s most important transactions to date—and is an experienced, disciplined and strategic executive,” Baltimore said in a statement. “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.”
Park Hotels & Resorts is a publicly traded lodging REIT. Its portfolio consists of 62 hotels and resorts with approximately 34,000 rooms.