Park Hotels & Resorts Inc. has announced to mitigate the effect on its business from the national emergency that has arisen as a result of the COVID-19 virus, have suspended or commenced the suspension of operations at nearly half of Park’s 60 hotels. Park’s remaining hotels are currently expected to remain open under reduced operations so long as incremental savings are achieved.
Park is also proactively pursuing alternative sources of revenue from applicable government authorities and hospitals such as providing temporary lodging for first responders, other medical personnel, military personnel, displaced guests and residents of communities where Park’s hotels are located.