Investor Presentaiton
4 CapEx: Over $1.3bn Has Been Reinvested in Park's Hotels
Well-capitalized portfolio with ~$1.3 bn invested since 2011 to maintain competitive strength
Historical Cumulative CapEx Spend (mn) (1)
Capital Investment Overview
$1,313
$1,088
$864
$704
$549
$266
2011
2012
2013
2014
2015
2016
Yearly CapEx Spend as % of Total Revenue (mn) (2)
12.7%
2011
12.9%
8.3%
8.3%
6.6%
6.4%
2012
2013
2014
2015
2016
5-Year Avg. CapEx Spend vs Full Service Peers (% of
Total Revenue (mn))
12.7%
11.3%
10.2% 10.0%
Full Service Lodging REIT Avg: 9.2%
9.4%
9.3%
8.6%
8.1%
8.0%
7.0%
6.7%
Invested heavily to drive market share
and ensure strong competitive
positioning of Park portfolio
• Consistently renovated to adapt to
evolving customer preferences and
latest technology
Renovations have been focused on
guestroom design, open and activated
lobby areas, food and beverage and
public spaces, and modernized
meeting space
Value creation through repositioning.
select hotels across brands or chain
scale segments and exploring adaptive
reuse opportunities for highest and
best use
No
major deferred maintenance
CapEx projects on the horizon
SHO
PEB
FCH
LHO
PK
CHSP
DRH
XHR
RHP
AHP
HST
ཚ
261
(1)
(2)
CapEx made in our consolidated portfolio during our period of ownership
CapEx and GAAP Total Revenue for our consolidated portfolio during our period of ownership
PARK HOTELS & RESORTSView entire presentation