Investor Presentaiton

Park Hotels & Resorts: Board of Directors Name 321 Principal Occupation Thomas J. Baltimore, Jr. Chairman, President & Chief Executive Officer Park Hotels & Resorts Experience Co-founder and former President and CEO - RLJ Lodging Trust (NYSE:RLJ) Former Executive - Hilton Hotels Corp., Host Marriott Services Corp., and Marriott Corp. (NYSE: MAR) Lead Independent Director of Prudential Financial (NYSE: PRU) • Serves as First Vice Chair - NAREIT Board • Former CFO of Weyerhaeuser (NYSE: WY) from Apr. 2007 - Feb. 2016 • Patricia M. Bedient Former Chief Financial Officer Weyerhaeuser A certified public accountant (CPA) since 1978; served as a managing partner of Arthur Andersen • Serves on the board of directors of Alaska Air Group, Inc. (NYSE:ALK) as Lead Independent Director, and Suncor Energy Inc. (NYSE: SU) Former Chairman & Chief Executive Officer Continental Airlines • Gordon M. Bethune Lead Independent Director Geoffrey Garrett Rob G. Harper Park Hotels & Resorts • • Dean Wharton School of Business at the University of Pennsylvania • Senior Managing Director and Head of U.S. Asset Management The Blackstone Group L.P. Retired Chairman and CEO of Continental Airlines Held senior management positions with The Boeing Company (NYSE: BA), Piedmont Airlines, Inc., Western Airlines, Inc. and Braniff Airlines Serves on the board of directors of Sprint Corporation (NYSE: S) and previously served on the board of directors of Prudential Financial (NYSE: PRU), Honeywell International (NYSE: HON), Willis Towers Watson PLC (NASDAQ: WLTW), Continental and Sysco Corporation (NYSE: SYY) Dean of the Wharton School of Business since 2014 Previously served as dean of the business schools at the University of New South Wales and the University of Sydney in Australia and the UCLA International Institute Former founding executive at the United States Studies Centre in Sydney, Australia and former President of the Pacific Council of International Policy in Los Angeles Former professor at Oxford University, Stanford University and Yale University Head of U.S. Asset Management for The Blackstone Group (NYSE:BX) Joined Blackstone in 2002; previously worked in LA and also London as head of Blackstone's European Real Estate Debt Strategies business. Previously held positions with Morgan Stanley's real estate private equity group . Serves on the board of directors of Invitation Homes Inc. (NYSE: INVH) . Head of U.S. Acquisitions for The Blackstone Group (NYSE:BX) Previously worked at Merrill Lynch in the real estate investment banking group Senior Managing Director and • Tyler S. Henritze Head of U.S. Acquisitions The Blackstone Group L.P. Serves on the board of directors of The Cosmopolitan of Las Vegas, Motel 6 and BRE Select Hotels; previously served on the board of directors of Hilton Worldwide (NYSE: HLT) and La Quinta (NYSE: LQ) PARK HOTELS & RESORTS

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