Hospitality | Tourism 2024: THOMAS J. BALTIMORE JR.

After completing major renovation projects at several properties in 2023, Park Hotels & Resorts reported higher first-quarter 2024 revenue per available room and occupancy compared to the same period in 2023. The company reported almost $2.69 billion in 2023 revenues, up from $2.5 billion in 2022.

Park Hotels & Resorts also moved up 30 places on the 2024 Fortune 1000 list, ranking 957 this year, up from 987 in 2023.

Baltimore joined the lodging real estate investment trust in 2016, shortly before its 2017 spinoff from McLean-based Hilton Worldwide Holdings. He has led the company through the downturn in business and leisure travel during the pandemic and the rebound, including stopping loan payments on two San Francisco properties which are now in court-ordered receivership. Park has no further economic interest in the operation of those two hotels.

Baltimore was previously president and CEO of RLJ Lodging Trust. He co-founded RLJ Development, RLJ’s predecessor entity, and served as its president from 2000 to 2011. Baltimore, who earned a bachelor’s degree and an MBA at the University of Virginia, is on the boards of directors of American Express and Comcast.