Park Hotels & Resorts Inc.

Our Company is one of the largest publicly-traded lodging real estate investment trusts (REITs). As of February 20, 2026, its portfolio includes 34 premium-branded hotels and resorts, totaling approximately 23,000 rooms. These properties are situated in prime United States (U.S.) markets that have high barriers to entry. The company's strategic focus is on its 21 Core hotels, which include one unconsolidated joint venture. The consolidated Core hotels contribute approximately 90% of the company's Hotel Adjusted EBITDA. All of the company's rooms are located in the U.S. and its territories, with over 96% of rooms in the Core portfolio being luxury and upper upscale. The company operates as a traditional umbrella partnership REIT (UPREIT), with Park Intermediate Holdings LLC (the "Operating Company") holding all assets and conducting all operations. Park Parent is the managing member of the Operating Company, and PK Domestic REIT Inc., a direct subsidiary of Park Parent, is a member of the Operating Company. The company aims to divest its Non-Core hotels to improve portfolio quality and long-term growth.