Park Hotels & Resorts Inc. Awarded Nareit’s 2023 Leader in the Light Award for its Sustainability Practices
16 November 2023 - 10:15PM
Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”)
announced today that it has been named the 2023 Leader in the Light
recipient in recognition of its sustainability practices within the
lodging and resorts sector by the National Association of Real
Estate Investment Trusts (“Nareit”). This is the second consecutive
year that Park has received this honor.
Nareit's annual Leader in the Light Award honors Nareit member
companies that have demonstrated outstanding sustainability
practices throughout the year. Now in their 18th year, the 2023
Leader in the Light Awards were presented to REITs in nine property
sectors during Nareit’s REITworld: 2023 Annual Conference.
“We are honored to be recognized by Nareit for our steadfast
commitment to corporate responsibility,” said Thomas J. Baltimore,
Jr., Chairman and CEO of Park. “Our team works tirelessly to
improve efficiencies, reduce emissions and implement sustainability
best practices through our Green Park program, enhance the
resilience of our overall portfolio through our best-in-class risk
management program, and foster a culture of inclusivity and
transparency through our Diversity & Inclusion Steering
Committee all under the oversight of strong governance practices
and policies. I am very proud that Park’s efforts continue to be
recognized as industry-leading for the impact that we are making,
not only for our stakeholders but also the broader REIT and lodging
community.”
The 2023 Leader in the Light Awards are based on the results of
the Global Real Estate Sustainability Benchmark (GRESB) Annual
Survey, as well as scored responses to supplemental questions by an
interdisciplinary panel of judges. Park participated in the 2023
GRESB assessment for the fourth consecutive year, ranking in the
top third of all publicly listed GRESB participant companies in the
Americas and registering a three-point increase over 2022,
continuing the Company's trend of enhancing its overall ESG program
and making meaningful improvements toward decarbonization.
“The sustainable, socially responsible and transparent steps
that REITs have taken, combined with new initiatives underway, are
impressive and vital to REITs and their investors,” said Nareit
President & CEO, Steven A. Wechsler. “We are proud of our
industry’s continued commitment toward looking at business
strategies through a sustainability lens and implementing practices
to execute those strategies.”
About Park Hotels &
ResortsPark is one of the largest publicly-traded
lodging REITs with a diverse portfolio of iconic and market-leading
hotels and resorts with significant underlying real estate value.
Park's portfolio currently consists of 43 premium-branded hotels
and resorts with over 26,000 rooms primarily located in prime city
center and resort locations. Visit www.pkhotelsandresorts.com for
more information.
For more information, contact:Ian
WeissmanSenior Vice President, Corporate
Strategy571-302-5591iweissman@pkhotelsandresorts.com
For additional information or to receive press
releases via e-mail, please visit our website
atwww.pkhotelsandresorts.comwww.pkhotelsandresorts.com
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