Park Hotels Chesapeake Lodging Trust Merger

Chesapeake Lodging Trust to Cancel 2019 Annual Meeting of Shareholders

Chesapeake Lodging Trust

Chesapeake Lodging Trust (NYSE:CHSP) yesterday announced that its board of trustees has cancelled the Trust’s 2019 Annual Meeting of Shareholders previously scheduled for June 19, 2019.

On May 6, 2019, the Trust announced that it entered into a definitive merger agreement pursuant to which the Trust would merge with a subsidiary of Park Hotels & Resorts Inc. (NYSE:PK). The merger is subject to approval by the Trust’s shareholders and other customary closing conditions and is expected to close in late third quarter or early fourth quarter of 2019. The Trust expects that the current members of its board of trustees will continue as trustees until the completion of the merger. The Trust will publicly announce the date and time of the special shareholders’ meeting to vote upon the proposed merger once it is determined by the board of trustees.

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 20 hotels with an aggregate of 6,288 rooms in eight states and the District of Columbia.

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