Market Overview

Park Hotels & Resorts Announces Fourth Quarter Dividend of $0.55 Per Share

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Park Hotels & Resorts Inc. (NYSE:PK) ("Park" or the "Company") announced today that the Company has declared a fourth quarter cash dividend of $0.55 per share of common stock. The dividend will be paid in cash on January 15, 2020 to holders of record as of December 31, 2019. The fourth quarter dividend, together with the regular cash dividends paid in the first three quarters of 2019, represent an annual yield of 7.8% based on the closing stock price as of December 6, 2019.

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, the effects of competition and the effects of future legislation or regulations, 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" or the negative version of these words or other comparable words.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those 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, 2018, as such factors may be updated from time to time in Park's filings with the 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 Hotels & Resorts Inc. (NYSE:PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 65 premium-branded hotels and resorts with over 35,000 rooms primarily located in prime U.S. markets with high barriers to entry. For additional information, please visit Park's website at www.pkhotelsandresorts.com.

For additional information or to receive press releases via e-mail, please visit our website at www.pkhotelsandresorts.com.

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