Park Hotels & Resorts Inc. Successfully Repays the $1.275 Billion CMBS Loan Secured by the Hilton Hawaiian Village Resort

Park Hotels & Resorts Inc. Successfully Repays the $1.275 Billion CMBS Loan Secured by the Hilton Hawaiian Village Resort TYSONS, Va.--( BUSINESS WIRE)--Park Hotels & Resorts Inc. ("Park") (NYSE: PK) today announced that it has successfully repaid the $1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort ("HHV Mortgage Loan"). The repayment was funded with proceeds from Park's $700 million delayed-draw Bonnet Creek mortgage financing and a $600 million draw from its delayed-draw term loan facility. The HHV Mortgage Loan was scheduled to mature on November 1, 2026. Following the transaction, Park has extended its weighted-average debt maturity by approximately 1.5 years to 3.1 years (including all extension options), with less than 11% of its total debt maturing through 2027.

"We are extremely pleased to have successfully repaid the Hilton Hawaiian Village CMBS loan, an important milestone that further strengthens our balance sheet and enhances our financial flexibility," said Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer of Park. "This transaction meaningfully extends our debt maturity profile while unencumbering one of the most iconic and irreplaceable resort assets in the world. With Hilton Hawaiian Village now unencumbered, we have significantly greater strategic flexibility to pursue opportunities that enhance long-term shareholder value. We are grateful for the continued support of our banking partners, whose confidence in our portfolio and business strategy helped facilitate these transactions and underscores the strength of our financial position."

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements related to Park’s current expectations regarding the performance of its business, financial results, liquidity and capital resources, including the availability of funds under Park’s senior unsecured revolving credit facility, any anticipated repayment and/or refinancing of Park’s other indebtedness, the completion of capital allocation priorities and expected returns on such projects, the expected repurchase of Park’s stock, the impact from macroeconomic factors (including elevated inflation and interest rates, potential economic slowdown or a recession and geopolitical conflicts or trends, including trade policy, travel barriers or changes in travel preferences for U.S. destinations, including as a result of government and agency shutdowns), the effects of competition and the effects of future legislation, executive action or regulations, tariffs, the expected completion of anticipated dispositions, including of Park’s non-core hotels, and the declaration, payment and any change in amounts of future dividends and other non-historical statements. Forward-looking statements include all statements that are not historical facts, and in some cases, can be identified by the use of forward-looking terminology such as the words “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “hopes” or the negative version of these words or other comparable words. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Park’s control and which could materially affect its results of operations, financial condition, cash flows, performance or future achievements or events.

All such forward-looking statements are based on current expectations of management and therefore involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in these forward-looking statements. You should not put undue reliance on any forward-looking statements and Park urges investors to carefully review the disclosures Park makes concerning risk and uncertainties in Item 1A: “Risk Factors” in Park’s Annual Report on Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in Park’s filings with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. Except as required by law, Park undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Park Hotels & Resorts

Park is one of the largest publicly-traded lodging real estate investment trusts with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 30 premium-branded hotels and resorts with over 21,000 rooms located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information.

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