The Firm represented certain entities affiliated with The Blackstone Group L.P. in connection with a $392.3 million offering, consisting of 15,000,000 shares of common stock of Park Hotels & Resorts Inc.
Park Hotels & Resorts Inc. (NYSE: PK) is one of the largest publicly traded lodging real estate investment trusts with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. The company’s portfolio currently consists of 67 premium-branded hotels and resorts with over 35,000 rooms located in prime U.S. and international markets with high barriers to entry.
The Simpson Thacher team included Edgar Lewandowski, Joshua Ford Bonnie, Jonathan Pacheco and Natalie Karam (Capital Markets – NY and D.C.); Brian Stadler (M&A); John Hart, Andrew Purcell and George Davis (Tax); Jonathan Lindabury (Derivatives); Jennifer Levitt and Mimi Cheng (Credit); Jennie Getsin (FINRA); and James Rapp (Public Company Advisory Practice). Summer Associate Sarah Routh also provided valuable assistance.