Investor Presentaiton
About Park Hotels & Resorts and Safe Harbor Disclosure
About Park Hotels & Resorts Inc.
Park (NYSE: PK) is a leading 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 67 premium-branded hotels and resorts with over 35,000 rooms located in prime U.S. and international markets with high barriers to entry.
Over 85% of Park's rooms are luxury and upper upscale and nearly 90% are located in the United States. Park is focused on driving premium long-term total returns
by continuing to enhance the value of its existing hotels and utilizing its scale to efficiently allocate capital to drive growth while maintaining a strong and flexible
balance sheet. Visit www.pkhotelsandresorts.com for more information.
Forward-Looking Statements
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements related to Park's current expectations regarding
the performance of its business, financial results, liquidity and capital resources, the effects of competition and the effects of future legislation or regulations and other
non-historical statements. Forward-looking statements include all statements that are not historical facts and, in some cases, can be identified by the use of forward-
looking terminology such as the words "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "approximately," "projects,"
"predicts," "intends,” “plans,” “estimates," "anticipates" or the negative version of these words or other comparable words. Forward-looking statements involve risks,
uncertainties and assumptions. Actual results may differ materially from those expressed in these forward-looking statements. You should not put undue reliance on
any forward-looking statements in this presentation. Additional factors that could cause Park's results to differ materially from those described in the forward-looking
statements can be found under the sections entitled "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" (or similar captions) in Park's Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC, as such factors may
be updated from time to time in Park's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Forward-looking statements speak
only as of the date on which they are made and Park undertakes no obligation to update or revise publicly any guidance or other forward-looking statement, whether
as a result of new information, future developments or otherwise, except as required by law.
Supplemental Financial Information
Park refers to certain non-generally accepted accounting principles ("GAAP") financial measures in this presentation, including Funds from Operations ("FFO")
calculated in accordance with the guidelines of the National Association of Real Estate Investment Trusts ("NAREIT"), Adjusted FFO, FFO per share, Adjusted FFO
per share, Earnings before interest expense, taxes and depreciation and amortization ("EBITDA"), Adjusted EBITDA, Hotel Adjusted EBITDA, Hotel Adjusted EBITDA
margin, Net debt and Net debt to Adjusted EBITDA ratio. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income
(loss) as a measure of its operating performance. Please see the schedules included in this presentation including the "Definitions" section for additional information
and reconciliations of such non-GAAP financial measures.
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