Hospitality/Tourism: THOMAS J. BALTIMORE JR.
CHAIR, PRESIDENT AND CEO, PARK HOTELS & RESORTS INC., TYSONS
Gray skies are gonna clear up.
If Baltimore were to sum up the hospitality industry in song, that might be the lyric he’d choose. The pandemic decimated the hotel business, but Baltimore is optimistic 2022 may be remembered as a return to normal, saying in May, “I am extremely pleased with Park’s first quarter results, which came in well ahead of expectations due to encouraging demand growth.”
Park Hotels & Resorts, which bills itself as the second largest publicly traded lodging real estate investment trust, made $1.4 billion in revenue last year, a 60% increase over the dismal 2020. Park sold five hotels in 2021, raising $477 million that was used to pay down debt. The company’s portfolio includes 50 hotels with more than 30,000 rooms.
Baltimore joined Park in 2016, shortly before its spinoff from McLean-based Hilton Worldwide Holdings Inc. In 2021, he earned $9.4 million in compensation. Baltimore, who received his undergraduate degree and MBA from the University of Virginia, previously was president and CEO of RLJ Lodging Trust. He sits on the boards of American Express Co. and Prudential Financial Inc.