Park Hotels & Resorts Emphasizes Corporate Responsibility in New Report
TYSONS, Va. — Park Hotels & Resorts Inc. (NYSE: PK) has recently released its annual Corporate Responsibility (CR) Report, which outlines the company's pivotal environmental, social, and governance (ESG) initiatives. This comprehensive document encapsulates Park's ongoing commitment to sustainability and corporate oversight, detailing its strides in various responsibility sectors throughout the previous year.
Recognizing High-Performing Energy Efficient Properties
The report highlights the achievements of six distinguished hotels within Park's portfolio that received ENERGY STAR certifications in early 2024 for their exceptional energy performance. This achievement is a testament to Park's dedication to operational efficiency, demonstrating how its properties are not only aesthetically pleasing but also environmentally responsible.
The Recent ENERGY STAR Certified Hotels
Among the notable properties recognized for their energy efficiency are:
- 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
Progress in Sustainable Practices
Since its inception as a publicly traded company in 2017, Park has made significant headway in energy efficiency. To date, it has achieved ENERGY STAR certification a remarkable 33 times, showcasing its commitment to sustainable operations. Properties earning this certification must have efficiency scores of 75 or higher, indicating their use of over 75% less energy compared to similar buildings.
Expanding Corporate Responsibility Initiatives
The latest CR Report is the seventh of its kind from Park, and it continues to align with global standards such as the Task Force on Climate-Related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (UN SDGs). This alignment underscores Park’s commitment to transparency and accountability as it navigates the complexities of corporate governance.
GRESB Real Estate Assessment Participation
Park has also participated in the GRESB Real Estate Assessment for five consecutive years. In this latest assessment, Park ranked in the top 30% among public companies in the Americas, showing a continuous improvement trajectory with a nine-point increase in its score since 2020. Additionally, the company has maintained a GRESB Public Disclosure score of “A”, reflecting its strong commitment to disclosure practices.
Future Goals and Community Engagement
Park’s commitment to corporate responsibility is firmly rooted in its diverse approach to community engagement, especially through partnerships with charitable organizations that complement its diversity, equity, and inclusion (DEI) initiatives. The report emphasizes plans for ongoing enhancements to the company’s residential and community impacts, ensuring that all associates are supported with comprehensive benefits and pay parity across different demographics.
About Park Hotels & Resorts
Park Hotels & Resorts Inc. is one of the largest publicly traded lodging real estate investment trusts (REITs) in the United States, managing 40 premium-branded hotels that house approximately 25,000 rooms across prime city centers and resort areas. The company’s real estate portfolio provides significant underlying value, positioning itself as a leader in the hospitality industry.
Contact for More Information
For further details regarding Park Hotels & Resorts, you can reach Ian Weissman, Senior Vice President of Corporate Strategy, at 571-302-5591 or via email.
Frequently Asked Questions
What is the purpose of the Corporate Responsibility Report?
The CR Report outlines Park's environmental, social, and governance strategies and initiatives aimed at enhancing corporate responsibility and sustainability.
How many hotels received ENERGY STAR certifications?
Six hotels were recognized for their superior energy performance and received ENERGY STAR certifications in early 2024.
What is the significance of the GRESB Real Estate Assessment?
The GRESB Real Estate Assessment evaluates the sustainability performance of real estate companies, and Park's strong ranking reflects its commitment to transparency and sustainability.
What initiatives support diversity and inclusion at Park?
Park’s corporate responsibility programs include comprehensive benefits and pay parity initiatives that support diversity, equity, and inclusion across the organization.
How does Park contribute to local communities?
Park partners with local charitable organizations that align with its diversity, equity, and inclusion mission, supporting community engagement and social impact.
