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Investor Presentaiton

3 Brand Strategy Maximizes Revenue and Profitability Brands Matter: Park will focus on owning hotels and resorts in the luxury and upper upscale segments Benefits of Partnering with Brands Consistent quality through a branded product should allow Park to achieve higher RevPAR and margins as a result of: 21| Recognizable product compared to independent hotels struggling to differentiate their offerings Worldwide reservation systems Loyalty programs help to drive recurring sales, while lowering new customer acquisition costs Hilton (~65mn members) and Marriott, including Starwood (~100mn members), have ~50% of sales stemming from customers within loyalty programs Ability to achieve increased direct-to-consumer sales minimizing OTA / wholesale commissions and increasing revenue to Park Significantly lower distribution costs for OTA business given negotiating power of brands More effective competition against Airbnb, particularly with respect to frequent travelers who appreciate the reliability and security of branded hotels Worldwide Group Sales Hilton RevPAR Premiums Marriott HYATT Strong Loyalty Programs Effective Brand Segmentation FOUR SEASONS, Worldwide Reservation Systems PARK HOTELS & RESORTS

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