Park Hotels & Resorts Inc. Issues Annual Corporate Responsibility Report and Recognizes Year-to-Date Energy Star Certified Properties
Rhea-AI Summary
Park Hotels & Resorts (NYSE: PK) has released its 2023 Corporate Responsibility Report, highlighting environmental, social, and governance initiatives. The company announced that six of its properties earned ENERGY STAR certifications in 2024 for superior energy performance, including the 2,860-room Hilton Hawaiian Village Waikiki Beach Resort. Since 2017, Park properties have earned 33 ENERGY STAR certifications.
The report details Park's environmental reduction progress, efficiency enhancement efforts, and commitment to diversity, equity, and inclusion. Park achieved notable recognition in the GRESB Real Estate Assessment, ranking in the top 30% of publicly listed companies in the Americas, with a one-point increase over 2023 and maintaining an 'A' score in GRESB Public Disclosure.
Positive
- Six properties earned ENERGY STAR certifications in 2024
- Ranked in top 30% of GRESB participant companies in Americas
- GRESB score increased by nine points since 2020
- Maintained 'A' score in GRESB Public Disclosure
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, PK declined 6.97%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TYSONS, Va., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) today announced that the Company has issued its annual Corporate Responsibility (“CR”) Report, which details Park’s environmental, social and governance performance and initiatives during 2023 as well as the Company’s corporate responsibility strategy and approach to risk management. In addition, Park is pleased to recognize six of its hotels and resorts for earning ENERGY STAR certifications for superior energy performance during year-to-date 2024, continuing Park’s commitment to enhancing efficiency in the built environment.
“Our corporate responsibility program continues to advance, led by our best-in-class risk management practices, strategic approach to reducing our environmental footprint, unwavering commitment to diversity, equity and inclusion (“DEI”) and transparent corporate governance practices,” said Thomas J. Baltimore, Jr., Chairman and CEO of Park. “This year’s CR Report details our targeted resiliency efforts at some of Park’s coastal properties and highlights the transformative work we have completed at the Casa Marina resort in Key West. On the environmental front, in addition to describing our environmental reduction progress against our new 2019 baseline, the CR Report includes information on our efforts to enhance efficiency through retro-commissioning of various systems and equipment as well as our focus on biodiversity preservation. Furthermore, the CR Report spotlights our social impact efforts that support our associates with comprehensive benefits and pay parity across gender and race, and that support the communities in which we engage by partnering with local charitable organizations that align with our DEI mission statement. I am incredibly proud of our corporate responsibility efforts, which are a cornerstone of our Company.”
Park’s Year-to-Date 2024 ENERGY STAR Certified Hotels for Superior Energy Performance:
- 2,860-room Hilton Hawaiian Village Waikiki Beach Resort
- 613-room Hilton Denver City Center
- 505-room DoubleTree by Hilton San Jose
- 502-room Hyatt Regency Boston
- 396-room Hilton Seattle Airport & Conference Center
- 224-room Juniper Hotel Cupertino, Curio Collection by Hilton
Since Park’s formation as a public company in 2017, Park properties have earned ENERGY STAR certifications for superior energy performance a total of 33 times as of the date of this press release. The annual certification is awarded to buildings with efficiency scores of 75 or higher, translating into
Park’s 2024 CR Report is the Company’s seventh annual corporate responsibility report. The CR Report aligns with globally utilized frameworks including the Task Force on Climate-Related Financial Disclosures (“TCFD”), Sustainability Accounting Standards Board (“SASB”), United Nations Sustainable Development Goals (“UN SDGs”) and Global Reporting Initiative (“GRI”). The limited assurance verification statement for some of Park’s 2023 environmental data is included as an appendix to the CR Report.
Additionally, Park participated in the GRESB Real Estate Assessment in 2024 for the fifth consecutive year. Park ranked in the top
The CR Report, along with Park’s latest corporate responsibility policies and GRESB scoring results, are available for download on the Responsibility tab of Park’s website: https://www.pkhotelsandresorts.com/responsibility.
About Park Hotels & Resorts
Park 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 40 premium-branded hotels and resorts with approximately 25,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information.
For more information, contact:
Ian Weissman
Senior Vice President, Corporate Strategy
571-302-5591
iweissman@pkhotelsandresorts.com
For additional information or to receive press releases via e-mail, please visit our website at www.pkhotelsandresorts.com
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