Investor Presentaiton

1Q17 Highlights: Solid Quarter Operating Results +1.7% Comparable increase in RevPAR for domestic portfolio +15bps Increase in comparable Pro forma Hotel Adjusted EBITDA margins for our domestic portfolio (1) +4.2% Y/Y increase in Pro forma Adjusted EBITDA(1) +7.1% Increase in Group revenues, fueled by a 13% increase in banquet and catering revenue +1% Group pace for 2017; +2.4% if you exclude San Francisco Top Performing Markets (RevPAR Performance) ➤ DC Metro: +10.0% ➤ Chicago: +8.1% ➤ Hawaii: +4.1% ➤ New York: +2.9% PARK HOTELS & RESORTS 61 (1) See Appendix for our definitions and for reconciliations of these measures to comparable GAAP measures

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