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Gaming & Lodging

Park Hotels & Resorts Executive Compensation (FY25)

PK · Tysons, VA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Thomas Baltimore Jr.
Latest say-on-pay support
=
April 24, 2026
Chief executive pay ratio
◇
To the median employee
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Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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Data as of October 22, 2026Latest filing (8-K): April 27, 2026
15 filings cited on this page
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283 figures on this page: 273 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

More on Park Hotels & Resorts

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Thomas Baltimore Jr.: $10,399,192 → $9,729,412 (6.4% lower)
Say-on-pay support: 94.9% → 89.8% (5.1 points lower)
CEO pay ratio: 39:1 → 35:1 (10.3% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Park Hotels & Resorts' chief executive and what were they paid?
Total compensation for Thomas Baltimore Jr., President and Chief Executive Officer, came to $9,729,412 in fiscal 2025. Baltimore Jr.'s total moved 6.4% lower from the $10,399,192 reported for fiscal 2024.
What was Park Hotels & Resorts' say-on-pay result?
Shareholders supported the say-on-pay proposal with 89.8% of votes cast for or against in favor at the meeting held April 24, 2026 for fiscal 2025.
Which companies are in Park Hotels & Resorts' peer group?
The disclosed peer group includes Apartment Income REIT Corp., Apple Hospitality REIT, Inc., DiamondRock Hospitality Company, Federal Realty Investment Trust and Hilton Grand Vacations Inc., among others.
What is Park Hotels & Resorts' chief executive pay ratio?
The company reported a chief executive pay ratio of 35:1 for fiscal 2025, against median employee compensation of $278,403.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Baltimore
President and Chief Executive Officer President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Dell’Orto
Executive Vice President and Chief Financial Officer and Treasurer Executive Vice President and Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Thomas Morey
Executive Vice President and Chief Investment Officer Executive Vice President and Chief Investment Officer
◇—◇—◇—◇◇
Carl Mayfield
Executive Vice President, Design and Construction
◇—◇—◇—◇◇
Nancy Vu
Executive Vice President and General Counsel Executive Vice President and General Counsel
◇—◇—◇—◇— not reconciled
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Baltimore Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Dell’Orto
Executive Vice President and Chief Financial Officer and Treasurer Executive Vice President and Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Thomas Morey
Executive Vice President and Chief Investment Officer
◇—◇—◇—◇◇
Carl Mayfield
Executive Vice President, Design and Construction
◇—◇—◇—◇◇
Nancy Vu
Executive Vice President and General Counsel
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Baltimore
President and Chief Executive Officer President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Dell'Orto
Executive Vice President and Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Thomas Morey
Executive Vice President and Chief Investment Officer
◇—◇—◇—◇◇
Carl Mayfield
Executive Vice President, Design and Construction
◇—◇—◇—◇◇
Nancy Vu
Executive Vice President and General Counsel
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Baltimore Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Dell'Orto
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Thomas Morey
Executive Vice President and Chief Investment Officer
◇—◇—◇—◇◇
Carl Mayfield
Executive Vice President, Design and Construction
◇—◇—◇—◇◇
Nancy Vu
Executive Vice President and General Counsel
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Carl A. MayfieldPSU◇◇◇—◇—◇
Carl A. MayfieldRSU◇——◇——◇
Nancy M. VuPSU◇◇◇—◇—◇
Nancy M. VuRSU◇——◇——◇
Sean M. Dell OrtoPSU◇◇◇—◇—◇
Sean M. Dell OrtoRSU◇——◇——◇
Thomas C. MoreyPSU◇◇◇—◇—◇
Thomas C. MoreyRSU◇——◇——◇
Thomas J. Baltimore JrRSU◇——◇——◇
Thomas J. Baltimore JrPSU◇◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Sean Dell'OrtoRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas Baltimore Jr.RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Nancy VuRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas MoreyRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Carl MayfieldRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Carl Mayfield
Executive Vice President, Design and Construction · Severance agreement
Severance multiple◇
Benefits continuation◇
Non-compete period◇
Non-solicit period◇
Nancy Vu
Executive Vice President and General Counsel · Severance agreement
Severance multiple◇
Benefits continuation◇
Non-compete period◇
Non-solicit period◇
Sean Dell'Orto
Executive Vice President, Chief Financial Officer and Treasurer · Severance agreement
Severance multiple◇
Change-in-control trigger◇
Benefits continuation◇
Non-compete period◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen I. Sadove
Lead independent director
◇◇———◇◇
Christie B. Kelly
◇◇———◇◇
Thomas D. Eckert
◇◇————◇
Patricia M. Bedient
◇◇————◇
Geoffrey M. Garrett
◇◇———◇◇
Thomas A. Natelli
◇◇————◇
Timothy J. Naughton
◇◇————◇
Terri D. McClements
◇◇———◇◇
Thomas J. Baltimore Jr served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Apartment Income REIT Corp. AIRC
  • Apple Hospitality REIT, Inc. APLE
  • DiamondRock Hospitality Company DRH
  • Federal Realty Investment Trust FRT
  • Hilton Grand Vacations Inc. HGV
  • Host Hotels & Resorts, Inc. HST
  • Hyatt Hotels Corporation H
  • JBG SMITH Properties JBGS
  • Marriott Vacations Worldwide Corp. VAC
  • Pebblebrook Hotel Trust PEB
  • RLJ Lodging Trust RLJ
  • Ryman Hospitality Properties, Inc. RHP
  • Sunstone Hotel Investors, Inc SHO
  • Wyndham Hotels & Resorts, Inc. WH
  • Xenia Hotels & Resorts, Inc. XHR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 24, 2026=◇◇◇
2024April 25, 2025=◇◇◇
2023April 19, 2024=◇◇◇
2022April 26, 2023=◇◇◇
2021April 27, 2022=◇◇◇
2020April 30, 2021=◇◇◇
2019April 24, 2020=◇◇◇
2018April 26, 2019=◇◇◇
2017April 27, 2018=◇◇◇
2016July 28, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Thomas Baltimore Jr. (President and Chief Executive Officer), FY2025 total compensation $9,729,412 (base salary $1,100,000) [exec_comp, SEC accession 0001617406-26-000021, filed 2026-03-12]

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What this page does not include

Everything above is a fact Park Hotels & Resorts disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Park Hotels & Resorts sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
283 figures on this page: 273 cited to the filing that reported them, 10 calculated from figures it prints.
273 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001617406-26-000025
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  2. 0001617406-26-000021
    2025 OUTSTANDING EQUITY AWARDS AT FISCAL · 2025 SUMMARY COMPENSATION TABLE · AND GRANTS OF PLAN-BASED AWARDS TABLE · DIRECTOR COMPENSATION · and 2 more sections
  3. 0001617406-25-000031
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  4. 0001617406-25-000013
    2024 SUMMARY COMPENSATION TABLE
  5. 0001617406-24-000035
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001617406-24-000026
    2023 SUMMARY COMPENSATION TABLE
  7. 0000950170-23-015787
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001193125-23-073123
    2022 SUMMARY COMPENSATION TABLE · 2022 Summary Compensation Table
  9. 0000950170-22-006533
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-21-150128
  11. 0001564590-20-018535
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001564590-19-014292
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001564590-18-009867
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001564590-17-014640
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001564590-17-008382
    Employment Agreement
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Velarion, “Park Hotels & Resorts executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PK (accessed 2026).
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The paid brief for Park Hotels & Resorts

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
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15 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers Park Hotels & Resorts discloses

The companies named in PK's own disclosed peer group.

Apartment Income REIT Corp.Apple Hospitality REIT, Inc.DiamondRock Hospitality CompanyFederal Realty Investment TrustHilton Grand Vacations Inc.Host Hotels & Resorts, Inc.Hyatt Hotels CorporationJBG SMITH PropertiesMarriott Vacations Worldwide Corp.Pebblebrook Hotel TrustRLJ Lodging TrustRyman Hospitality Properties, Inc.Sunstone Hotel Investors, IncWyndham Hotels & Resorts, Inc.Xenia Hotels & Resorts, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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