Key Takeaways PK completed the disposition of Hilton San Francisco Union Square and Parc 55 hotels.The move supports PK's 2025 plan to sell $300-$400 million of non-core assets to focus on core operations.PK had no economic interest due to receivership, and the sale removes legacy assets from its statements.Park Hotels & Resorts Inc. (PK) recently announced the completion of the disposition of the Hilton San Francisco Hotels. The hotels include Hilton San Francisco Union Square, comprising 1,921 rooms, and ...

"Today is a great moment for downtown San Francisco's hospitality sector,†said Vann Avedisian, a Founding Partner of Newbond. "We are thrilled to complete the acquisition of Hilton Union Square and Parc 55, and to embark on an extensive capital improvement plan for the assets. These hotels, anchored in the heart of Union Square and backed by Hilton's strong global brand, are uniquely positioned to benefit from San Francisco's resurgence as a leading global destination, which is well underway thanks to Danie ...

Core Viewpoint - Park Hotels & Resorts Inc. announced the completion of the sale of two major properties in San Francisco, securing a significant non-recourse loan in the process [1] Group 1: Company Actions - The court-appointed receiver completed the sale of the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco, collectively referred to as the Hilton San Francisco Hotels [1] - The sale secured a $725 million non-recourse CMBS Loan, known as the SF Mortgage Loan [1] Group 2: Financial Implications - The transaction reflects a strategic move by the company to manage its asset portfolio and financial obligations effectively [1]