PK - Mergers and acquisitions

Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE:PK) today provided an update on its non-core disposition activity and fourth quarter operating trends. Non-Core Asset Disposition Update: Year-to-date, the Company has sold or entered into agreements or letters of intent to sell five Non-Core hotels for anticipated gross proceeds of approximately $198 million at an average multiple of nearly 43x. Closed transactions include the sale of the 316-room Hyatt Centric Fisherman's Wharf in May 2025 and the sale of an unconsolidated joint venture interest in the 559-room Capital Hilton DC in November 2025. The three remaining transactions are expected to close by early 2026; In additio

TYSONS, Va., April 23, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE:PK) ("Park" or the "Company") today announced that it has closed on the sale of the 97-room W New Orleans – French Quarter (the "Hotel") located in New Orleans, LA, for gross proceeds of approximately $24.1 million, or $249,000 per key. When adjusted for Park's anticipated capital expenditures ("capex"), the sale price represents a 4.3% capitalization rate on the Hotel's 2019 net operating income (5.8% excluding capex), or 17.9x the Hotel's 2019 EBITDA (13.3x excluding capex). Proceeds from the sale will be used to repay debt. The sale of the Hotel marks the 25th non-core hotel that Park has sold or dispose