Park Hotels Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 5, 2017, Messrs. Robert G. Harper and Tyler S. Henritze each notified Park Hotels & Resorts Inc. (the “Company”) that he was resigning as a director on the Company’s Board of Directors (the “Board”), effective immediately. Neither Messrs. Harper nor Henritze resigned from the Board as the result of any disagreement with the Company, the Board or the management of the Company. The Company's Board of Directors has no immediate plans to appoint a replacement for either of Messrs. Harper or Henritze.
Messrs. Harper and Henritze were originally appointed in connection with the Stockholder Agreement, dated January 2, 2017 (the “Blackstone Stockholder Agreement”), between the Company and affiliates of The Blackstone Group, L.P. (collectively, the “Blackstone Selling Stockholders”).On December 1, 2017, the Blackstone Selling Stockholders announced the completion of their sale of 16.8 million shares of the Company’s common stock.As a result of such sale, the Blackstone Stockholder Agreement was terminated in accordance with its terms.
About Park Hotels & Resorts Inc. (NYSE:PK)
Park Hotels & Resorts Inc., formerly Hilton Worldwide, Inc., is lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment. The Company’s portfolio consists of approximately 70 hotels and resorts with approximately 36,000 rooms located in the United States and international markets. The Company’s brand affiliations include Conrad Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hampton by Hilton, Hilton Hotels & Resorts, Hilaton Garden Inn, Curio – A Collection by Hilton, and Waldorf Astoria Hotels & Resorts. The Company’s hotels include Pointe Hilton Squaw Peak Resort, Hilton San Francisco Union Square, Capital Hilton, Hilton Orlando Bonnet Creek, Hilton Atlanta Airport, Hilton Hawaiian Village Beach Resort, Hilton Chicago, Hilton Blackpool, Hilton Belfast and Hilton London Islington.