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 ...

Financial Data and Key Metrics Changes - The company reported a significant sequential improvement in occupancy, with consolidated portfolio occupancy increasing from 21% in January to 33% in March [15] - For open hotels, occupancy reached 46% in March, with 17 hotels surpassing 60% occupancy compared to just seven in February [16] - The company achieved breakeven EBITDA in March, with an occupancy of 32% and average rates down 25% compared to 2019 levels [16][12] Business Line Data and Key Metrics Changes - Leisure demand accounted for approximately two-thirds of total demand during the quarter, with leisure-related room revenues nearly doubling from Q4 2020 [18] - Ancillary revenues, excluding food and beverage, exceeded Q1 2019 levels by more than 30% during the quarter [19] - Business transient demand showed marginal improvement, while group demand began to recover with small group bookings [20] Market Data and Key Metrics Changes - The company's top-performing hotels were located in leisure destinations, with South Florida hotels averaging over 80% occupancy [21] - Key West hotels achieved an average occupancy of 96% and combined revenues of $25 million, surpassing budget by nearly $9 million [23] - Puerto Rico's Caribe Hilton reached 72% occupancy in March, benefiting from travel restrictions in other Caribbean destinations [25] Company Strategy and Development Direction - The company aims to return to profitability by safely reopening its portfolio and reducing its monthly burn rate, which was $26 million in March [12][13] - Focus on capital recycling through asset sales, with plans to sell $300 million to $400 million of non-core assets this year [32] - The company is also pursuing attractive acquisitions in target markets and relaunching the Bonnet Creek meeting space expansion project [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery, driven by vaccination rates and increased consumer confidence [9] - The GDP forecast for 2021 is averaging 6.4%, the highest since 1984, which bodes well for the hospitality industry [12] - Management expects to achieve breakeven in the second half of the year, with positive adjusted hotel EBITDA anticipated in Q2 [46] Other Important Information - The company reported a liquidity of $1.3 billion, with a net debt of $4.5 billion [45] - Recent ESG efforts include the publication of the corporate responsibility report and recognition for energy performance [49][50] - The company is focused on enhancing diversity and inclusion within its workforce [50] Q&A Session Summary Question: Concerns about larger hotels reopening - Management noted that larger hotels may ramp up more slowly but are seeing positive trends in occupancy and demand [52][53] Question: Feedback on group and corporate travel budgets - Management indicated uncertainty about the long-term impact on business travel but believes the need for in-person meetings will persist [68][70] Question: Update on cost-saving targets and labor constraints - Management confirmed an increase in cost-saving targets to $85 million and discussed the impact of labor challenges on operations [82][88] Question: Path to recovery for Hawaii compared to Key West - Management expects Hawaii to see a strong recovery, with occupancy projected to reach 75% for the balance of the year [29][90] Question: Current status of New York hotel openings - Management highlighted the complexity of reopening in New York, with plans to monitor the situation closely [118][120]

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 ...

Company Overview - Park Hotels & Resorts owns a portfolio of 60 premium-branded hotels and resorts with over 33,000 rooms[13] - The company's net debt was $4.2 billion as of September 30, 2020[19] - The company has $1.6 billion of liquidity, with a $50 million monthly burn rate, equating to 32 months of liquidity runway[19] - The company trades at a 63% discount to replacement cost[22] Operational Update - 49 of the company's 60 hotels are currently open[22, 32] - The company's October occupancy rate was 43%[22, 36] - 12 hotels achieved break-even EBITDA in Q3 2020[22, 32] Financial Performance - The company's Core 30 RevPAR in 2019 was $204, which is $20 higher than peers[19, 43] - The company's Core 30 EBITDA/Key in 2019 was $35,500, which is 14% above peers[19, 43] - The company expects $70 million in annual savings from permanent reduction of full-time, hotel-level staffing[32, 47] COVID-19 Impact and Response - The company suspended operations at 38 of 60 hotels and reduced expenses by over 75% at the outset of the crisis[34] - The company issued $650 million of 5-year senior secured notes and $725 million of 8-year senior secured notes to pay down over $1 billion of debt[34] Portfolio Transformation - The company sold or disposed of 24 lower quality, non-core legacy assets since January 2017[30] - The company's comparable RevPAR increased by 16% from $161 in 2016 to $186 in 2019[30] - The company's comparable Hotel Adjusted EBITDA Margins increased by 180bps from 27.7% in 2016 to 29.5% in 2019[30]