Investor Presentaiton

Enterprise Value (bn) 1 Size and Scale: Park ~2.5x the Size of Most Lodging REITs (1) Park is the second largest publicly traded Lodging REIT $20.0 Full Service $18.0 Mixed & Limited Service $17.2 $16.0 $14.0 $12.0 $10.0 $8.4 $8.0 $6.0 $5.6 $4.3 $4.4 $4.5 $4.8 $4.0 $3.5 $3.7 $2.2 $2.3 $2.6 $2.7 $2.8 $3.1 $2.0 $1.5 $1.0 $0.0 AHP CLDT CHSP HT INN FCH XHR DRH PEB RLJ SHO LHO AHT RHP APLE PK HST 16 (1) Assumption excludes HST from calculation Source: Public company filings as of 3/31/17, and S&P Global. Market data as of 5/30/17 PARK HOTELS & RESORTS

View entire presentation