BETHESDA, MD–Park Hotels & Resorts, Hilton Worldwide's planned spinoff of its real estate operations, has recruited another hospitality executive to join its team.
Robert Tanenbaum, executive vice president and COO of Bethesda, MD-based DiamondRock Hospitality, has notified the company that he is resigning his position effective Sept. 22, 2016, according to a regulatory filing.
He is joining Park Hotels & Resorts as executive vice president, Asset Management.
DiamondRock is using Ferguson Partners to find Tanenbaum's replacement. In the interim, his responsibilities will be assumed by the company's senior management team, the filing said.
This is not the first hotel executive Park Hotels lured away.
It recruited Tom Baltimore, previously president and CEO of RLJ Lodging Trust, to be the president and CEO. Baltimore had not been looking to leave RLJ “but when Christopher J. Nassetta [president and CEO of Hilton Worldwide] calls you, you answer,” RLJ's CEO Ross H. Bierkan told GlobeSt.com in an interview last month.
Another exec joining Park Hotels' team is Sean Dell'Orto, currently SVP and treasurer of Hilton. He will be the REIT's CFO.
Other regulatory filing show that Park Hotels is slowly but steadily moving to the finish line.
Last month Hilton Worldwide amended the Form 10 Registration Statement it filed with the SEC in June to provide additional information about the structure of the spin off in relation to its parent company and the time share business that Hilton is also spinning off.
More Portfolio Details
There were also more details about the portfolio. Hilton or joint ventures in which Hilton holds an interest, will continue to own or lease some 73 hotels, of which 65 are leased hotels located outside the United States. These hotels represented approximately $1.6 billion of revenue in 2015.
It also identified the top ten properties in its portfolio. These are: Hilton Hawaiian Village, Hilton Waikoloa Village, Hilton San Francisco Union Square, Parc 55 Hotel San Francisco, Hilton New York Midtown, Hilton New Orleans Riverside, Hilton Chicago, Waldorf Astoria Orlando, Hilton Orlando Bonnet Creek and the Waldorf Astoria Casa Marina Resort Key West.
Finally, Park Hotels will be listing on the New York Stock Exchange under the symbol “PK”.
BETHESDA, MD–Park Hotels & Resorts, Hilton Worldwide's planned spinoff of its real estate operations, has recruited another hospitality executive to join its team.
Robert Tanenbaum, executive vice president and COO of Bethesda, MD-based DiamondRock Hospitality, has notified the company that he is resigning his position effective Sept. 22, 2016, according to a regulatory filing.
He is joining Park Hotels & Resorts as executive vice president, Asset Management.
DiamondRock is using Ferguson Partners to find Tanenbaum's replacement. In the interim, his responsibilities will be assumed by the company's senior management team, the filing said.
This is not the first hotel executive Park Hotels lured away.
It recruited Tom Baltimore, previously president and CEO of RLJ Lodging Trust, to be the president and CEO. Baltimore had not been looking to leave RLJ “but when Christopher J. Nassetta [president and CEO of Hilton Worldwide] calls you, you answer,” RLJ's CEO Ross H. Bierkan told GlobeSt.com in an interview last month.
Another exec joining Park Hotels' team is Sean Dell'Orto, currently SVP and treasurer of Hilton. He will be the REIT's CFO.
Other regulatory filing show that Park Hotels is slowly but steadily moving to the finish line.
Last month Hilton Worldwide amended the Form 10 Registration Statement it filed with the SEC in June to provide additional information about the structure of the spin off in relation to its parent company and the time share business that Hilton is also spinning off.
More Portfolio Details
There were also more details about the portfolio. Hilton or joint ventures in which Hilton holds an interest, will continue to own or lease some 73 hotels, of which 65 are leased hotels located outside the United States. These hotels represented approximately $1.6 billion of revenue in 2015.
It also identified the top ten properties in its portfolio. These are: Hilton Hawaiian Village, Hilton Waikoloa Village, Hilton San Francisco Union Square, Parc 55 Hotel San Francisco, Hilton
Finally, Park Hotels will be listing on the
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
