Financial Data and Key Metrics Changes - The company reported a consolidated RevPAR that was 25% higher than expected, driven by growth in both occupancy and ADR in select markets [18] - Adjusted EBITDA for the second quarter was $33 million, exceeding forecasts by over $60 million, marking the first positive adjusted EBITDA since Q1 2020 [50] - The company achieved breakeven results at the corporate level in June, significantly improving from a $23 million burn rate in April [50] Business Line Data and Key Metrics Changes - Leisure-focused properties outperformed expectations, with five hotels meeting or exceeding 2019 occupancy levels and ten hotels surpassing 2019 ADRs by an average of 25% [19] - Ancillary out-of-room spending increased by 65% to $26 per occupied room compared to Q2 2019, indicating strong demand for additional services [21] - The company has reopened 90% of its total portfolio rooms and plans to reopen the remaining three hotels in the coming months [23] Market Data and Key Metrics Changes - Leisure demand accounted for approximately 70% of total demand, doubling from Q1, with strong performance particularly in Hawaii [24] - Group business for Q2 saw a significant increase, with confirmed bookings pacing at roughly 50% of 2019 revenues [25] - In Hawaii, occupancy at Hilton Hawaiian Village jumped from 44% in April to 84% in June, driven by domestic leisure travel [31] Company Strategy and Development Direction - The company is focused on reopening suspended properties, maximizing RevPAR, implementing operational efficiencies, and pursuing selective acquisitions [16] - Future acquisitions will target upper upscale and luxury hotels in top 25 markets and premium resort destinations [17] - The company aims to leverage its diversified portfolio to benefit from all demand segments throughout the lodging recovery [47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of business travel and corporate group events as restrictions ease [13] - The company anticipates continued strong demand in Hawaii, especially during the winter holidays, with rates already exceeding $1,000 per night [35] - Management remains cautious about the potential impact of the Delta variant on future demand but expects a return to normalcy [46] Other Important Information - The company raised $750 million in senior secured notes and announced nearly $480 million in asset sales to strengthen its balance sheet [9] - The company has identified $85 million in cost savings, translating to nearly 300 basis points of margin improvement [26] - The company has over $1.8 billion in liquidity, positioning it for growth through targeted ROI initiatives and strategic acquisitions [48] Q&A Session Summary Question: Can you elaborate on the appetite for buying and selling assets? - Management highlighted their active approach to reshaping the portfolio, having sold 30 assets for about $1.7 billion and expressing a focus on reopening hotels and identifying cost savings [58] Question: What is the current NAV and how has it changed? - Management indicated that the consensus NAV is around $27 per share, recovering from pre-pandemic levels of approximately $30, with significant improvements in the balance sheet [71] Question: What are the long-term expectations for the San Francisco market? - Management expressed confidence in the San Francisco market's recovery due to supply constraints and multiple sources of demand, despite recent asset sales [78] Question: How are the recent housekeeping changes by Hilton received? - Management applauded Hilton's opt-in housekeeping policy as a necessary adjustment and noted minimal complaints from customers regarding changes in service [100]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37795 Park Hotels & Resorts Inc. (Exact name of Registrant as specified in its Charter) Delaware 36-2058176 (State or other juris ...

Second Quarter 2021 Supplemental Data JUNE 30, 2021 Royal Palm South Beach Miami, a Tribute Portfolio Resort Hilton Hawaiian Village Waikiki Beach Resort Parc 55 San Francisco, a Hilton Hotel About Park and Safe Harbor Disclosure About Park Hotels & Resorts Inc. Park (NYSE: PK) is the second largest publicly-traded lodging real estate company with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 56 premium-branded hotels and ...

PARK HOTELS & RESORTS Nareit Presentation JUNE 2021 mm Park Hotels & Resorts To be the preeminent lodging REIT, focused on consistently delivering superior, risk-adjusted returns for stockholders through active asset management and a thoughtful external growth strategy, while maintaining a strong and flexible balance sheet Mission Investment Strategy Guiding Principles Upper-Upscale & Luxury Full-Service Premiere Urban and Resort Destinations Affiliation with Dominant Global Brands Aggressive Asset Manageme ...

First Quarter 2021 Supplemental Data MARCH 31, 2021 Royal Palm South Beach Miami, a Tribute Portfolio Resort Parc 55 San Francisco, a Hilton Hotel 83 About Park and Safe Harbor Disclosure About Park Hotels & Resorts Inc. Park (NYSE: PK) is the second largest publicly-traded lodging real estate company with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 59 premium-branded hotels and resorts with over 33,000 rooms primarily ...

Park Hotels & Resorts Inc. (NYSE:PK) Q1 2021 Earnings Conference Call May 7, 2021 11:00 AM ET Company Participants Ian Weissman - Senior Vice President of Corporate Strategy Tom Baltimore - Chairman & Chief Executive Officer Sean Dell'Orto - Chief Financial Officer Conference Call Participants David Katz - Jefferies Smedes Rose - Citi Rich Hightower - Evercore Neil Malkin - Capital One Securities Anthony Powell - Barclays Robin Farley - UBS Chris Woronka - Deutsche Bank Lukas Hartwich - Green Street Operato ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37795 Park Hotels & Resorts Inc. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorpor ...

Park Hotels & Resorts Inc. (NYSE:PK) Q4 2020 Earnings Conference Call February 26, 2021 ET Company Participants Ian Weissman - Senior Vice President Corporate Strategy Tom Baltimore - Chairman & Chief Executive Officer Sean Dell'Orto - Chief Financial Officer Conference Call Participants David Katz - Jefferies Smedes Rose - Citi Dany Asad - Bank of America Rich Hightower - Evercore Anthony Powell - Barclays Bill Crow - Raymond James Neil Malkin - Capital One Securities Brandt Montour - JPMorgan Stephen Gr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number 001-37795 Park Hotels & Resorts Inc. (Exact name of Registrant as specified in its Charter) Delaware 36-2058176 (State or other j ...

Fourth Quarter and Year End 2020 Supplemental Data | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------|---------------------------------------|-------|-------|----------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | DECEMBER 31, 2020 | | | | | | | | | | | | | | | Royal Palm South Beach Miami, a Tribute Portfolio | Parc 55 San Francisco, a Hilton Hotel | | | Hilton Hawaiian Village Waikiki Beach Resort | | | About Park an ...