Park Hotels & Resorts Inc. (NYSE: PK) yesterday announced that it has terminated the employment of Robert D. Tanenbaum, Park’s former Executive Vice President, Asset Management. Mr. Tanenbaum was terminated by Park for cause after an investigation determined that he had engaged in a personal, inappropriate and consensual relationship with a Park employee as well as inappropriate communications, which relationship and communications violated Park policies and core values. Mr. Tanenbaum’s termination is unrelated to Park’s operational or financial performance.
The Asset Management department will report into Park's Chief Financial Officer, Sean Dell’Orto, on an interim basis until a successor is named.
Park Hotels & Resorts Inc. (NYSE: PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 62 premium-branded hotels and resorts with approximately 34,000 rooms primarily located in prime U.S. markets with high barriers to entry.
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