Park Hotels & Resorts Announces Third Quarter Dividend of $0.01 Per Share

TYSONS, Va., Sept. 09, 2022 (GLOBE NEWSWIRE) — Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) today announced that the Company has declared a cash dividend to third quarter of $0.01 per common share. The dividend will be paid in cash on October 17, 2022 to shareholders of record as of September 30, 2022.

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 relating to Park’s current expectations regarding the performance of its business, financial results, liquidity and capital resources, including the expected dates when its hotels will reach the threshold. profitability or will achieve positive Adjusted EBITDA, the impact on the business and financial condition of the Company and its hotel management companies, the measures taken in response to COVID-19, the impact of macroeconomic factors (including the inflation, rising interest rates, potential economic slowdown or recession and geopolitical disputes), the effects of competition and the effects of future legislation or regulation, the expected completion of planned divestments, reporting and payment 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”, “believe”, “expect”. , “potential”, “continues”, “may”, “will”, “should”, “could”, “seek”, “project”, “predict”, “intend”, “plan”, ” estimates”, “anticipates”, “hopes” or the negative version of these words or other comparable words. You should not rely on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control and which could materially affect its results of operations, financial condition, cash flows, performance or achievements or future events. the most important factors continues to be the negative effect of the a COVID-19, including measures taken to contain the pandemic or mitigate its effects, the emergence of virus variants and resurgences, on the Company’s financial condition, results of operations, cash flow and performance, its hotel management companies and hotel tenants, the global economy and financial markets. Investors are cautioned to interpret many of the risks identified in the Risk Factors included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 as heightened due to the many ongoing negative effects of COVID-19.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in these forward-looking statements. You should not place undue reliance on forward-looking statements and Park urges investors to carefully consider the disclosures provided by Park regarding risks and uncertainties in Item 1A: “Risk Factors” in Park’s Annual Report on Form 10-K for the year ended December 31. , 2021, as such factors may be updated from time to time in Park’s filings with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Park undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Park Hotels & Resorts

Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 49 premium branded hotels and resorts with over 30,000 rooms primarily located in prime city centers and resorts. Visit www.pkhotelsandresorts.com for more information.

For more information contact:

Ian Weismann

Senior Vice President, Corporate Strategy

571-302-5591

iweissman@pkhotelsandresorts.com

For more information or to receive press releases by email, please visit our website at www.pkhotelsandresorts.com

Copyright 2022 GlobeNewswire, Inc.


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