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Lodging | Benzinga

Lodging | Benzinga
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.

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Park Hotels & Resorts Inc. Announces Closing of $750 Million of 4.875% Senior Secured Notes Due 2029

Park Hotels & Resorts Inc. Announces Closing of $750 Million of 4.875% Senior Secured Notes Due 2029
TYSONS, Va., May 14, 2021 (GLOBE NEWSWIRE) Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) announced today that certain of its subsidiaries, Park Intermediate Holdings LLC (the “Operating Company”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (together with the Operating Company and PK Domestic LLC, the “Issuers”), completed the previously announced offering of $750 million aggregate principal amount of 4.875% senior secured notes due 2029 (the “Notes”). The Notes will pay interest semi-annually in arrears, at a rate of 4.875% per year, and will mature on May 15, 2029. The Notes are guaranteed by Park and certain subsidiaries of the Operating Company that guarantee the Company’s senior credit facilities and existing senior secured notes due 2025 and 2028. The Notes are secured, subject to permitted lien ....

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Park Hotels & Resorts Inc. (PK) Q1 2021 Earnings Call Transcript

Park Hotels & Resorts Inc. (PK) Q1 2021 Earnings Call Transcript
Motley Fool Transcribing
© The Motley Fool
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Park Hotels & Resorts Inc. (NYSE: PK)
Q1 2021 Earnings Call
Greetings. Welcome to Park Hotels & Resorts, Inc. first-quarter 2021 earnings conference call. [Operator instructions] Please note that this conference is being recorded.
I will now turn the conference over to your host, Ian Weissman, senior vice president of corporate strategy. You may begin.
Ian Weissman
Senior Vice President of Corporate Strategy and Investor Relations
Thank you, operator, and welcome, everyone, to the Park Hotels & Resorts first-quarter 2021 earnings call. Before we begin, I would like to remind everyone that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numer ....

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Park Hotels & Resorts Announces the Sale of the W New Orleans – French Quarter and Provides an Update on Hotel Reopenings and Operating Trends

Home / Top News / Park Hotels & Resorts Announces the Sale of the W New Orleans – French Quarter and Provides an Update on Hotel Reopenings and Operating Trends
Park Hotels & Resorts Announces the Sale of the W New Orleans – French Quarter and Provides an Update on Hotel Reopenings and Operating Trends
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. ....

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Park Hotels & Resorts Announces Four Hotels Achieved ENERGY STAR® Certification for Superior Energy Performance in 2020

Park Hotels & Resorts Announces Four Hotels Achieved ENERGY STAR® Certification for Superior Energy Performance in 2020
/EIN News/ TYSONS, Va., April 22, 2021 (GLOBE NEWSWIRE) Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that four of its hotels: Hilton Seattle Airport and Conference Center, Hilton Santa Barbara Beachfront Resort, DoubleTree Ontario Airport and Le Meridien San Francisco have earned the U.S. Environmental Protection Agency’s (EPA) 2020 ENERGY STAR certification for superior energy performance. Only 26 hotels nationwide earned the prestigious ENERGY STAR certification in 2020.
“Improving the energy efficiency of our nation’s buildings is critical to protecting our environment,” said Jean Lupinacci, Chief of the ENERGY STAR Commercial & Industrial Branch. “From the boiler room to the board room, organizations are leading the way by making their buildings more efficient and earning EPA’s ENERGY STAR certification.” ....

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