Park Hotels & Resorts Inc. 10-K

Item 2. Properties. Our Properties The following table provides a list of our portfolio as of February 18, 2022: Location Type (1) Ownership Percentage Rooms Arizona Embassy Suites Phoenix Airport GL 100% 182 California Hilton San Francisco Union Square FS 100% 1,921 Hilton San Diego Bayfront JV, GL 25% 1,190 Parc 55 San Francisco - a Hilton Hotel FS 100% 1,024 DoubleTree Hotel San Jose FS 100% 505 DoubleTree Hotel Ontario Airport FS 67% 482 Hyatt Regency Mission Bay Spa and Marina GL 100% 438 Hilton La Jolla Torrey Pines JV, GL 25% 394 Hilton Santa Barbara Beachfront Resort FS 50% 360 Hilton Oakland Airport GL 100% 360 JW Marriott San Francisco Union Square GL 100% 344 Hyatt Centric Fisherman's Wharf FS 100% 316 DoubleTree Hotel San Diego – Mission Valley GL 100% 300 DoubleTree Hotel Sonoma Wine Country GL 100% 245 Juniper Hotel Cupertino, Curio Collection FS 100% 224 Hilton Checkers Los Angeles FS 100% 193 Hilton Garden Inn LAX/El Segundo FS 100% 162 Colorado Hilton Denver City Center FS (2) 100% 613 DoubleTree Hotel Durango GL 100% 159 District of Columbia Capital Hilton JV, FS 25% 550 Florida Hilton Orlando JV, FS 20% 1,424 Signia by Hilton Orlando Bonnet Creek FS 100% 1,009 Hilton Orlando Lake Buena Vista GL 100% 814 Hilton Miami Airport FS 100% 508 Waldorf Astoria Orlando FS 100% 502 Royal Palm South Beach Miami - a Tribute Portfolio Resort FS 100% 393 Casa Marina, A Waldorf Astoria Resort FS 100% 311 The Reach Key West, Curio Collection FS 100% 150 Hawaii Hilton Hawaiian Village Waikiki Beach Resort FS (2) 100% 2,860 Hilton Waikoloa Village FS (2) 100% 647 29 Location Type (1) Ownership Percentage Rooms Illinois Hilton Chicago FS 100% 1,544 W Chicago - Lakeshore FS 100% 520 W Chicago - City Center FS 100% 403 Hilton Chicago/Oak Brook Suites FS 100% 211 Hilton Garden Inn Chicago/Oak Brook Terrace FS 100% 128 Louisiana Hilton New Orleans Riverside FS (2) 100% 1,622 Massachusetts Hilton Boston Logan Airport GL 100% 604 Hyatt Regency Boston FS 100% 502 Boston Marriott Newton FS 100% 430 Missouri Embassy Suites Kansas City Plaza GL 100% 266 Nevada DoubleTree Hotel Las Vegas Airport JV, FS (2) 50% 190 New Jersey Hilton Short Hills FS 100% 314 New York New York Hilton Midtown FS (2) 100% 1,878 Puerto Rico Caribe Hilton FS (2) 100% 652 Tennessee Hampton Inn & Suites Memphis – Shady Grove FS 100% 131 Texas Embassy Suites Austin Downtown South Congress GL 100% 262 Utah Hilton Salt Lake City Center GL 100% 499 Virginia DoubleTree Hotel Washington DC - Crystal City FS 100% 627 Hilton McLean Tysons Corner FS 100% 458 Embassy Suites Alexandria Old Town JV, FS (2) 50% 288 Washington DoubleTree Hotel Seattle Airport GL 100% 850 Hilton Seattle Airport & Conference Center GL 100% 396 DoubleTree Hotel Spokane City Center FS 10% 375 Homewood Suites Seattle Convention Center Pike Street FS 100% 195 Total 31,925 (1) “FS” refers to fee simple ownership interest; “GL” refers to ground lease; “JV” refers to unconsolidated joint venture. (2) Certain portions of land or facilities are subject to lease. 30 Item 3. Leg al Proceedings. We are involved in various claims and lawsuits arising in the ordinary course of business, some of which include claims for substantial sums, including proceedings involving tort and other general liability claims, employee claims and consumer protection claims. Most occurrences involving liability, claims of negligence and employees are covered by insurance with solvent insurance carriers. For those matters not covered by insurance, which include commercial matters, we recognize a liability when we believe the loss is probable and can be reasonably estimated. The ultimate results of claims and litigation cannot be predicted with certainty. We believe we have adequate reserves against such matters. We currently believe that the ultimate outcome of such lawsuits and proceedings will not, individually or in the aggregate, have a material adverse effect on our consolidated financial position, results of operations or liquidity. However, depending on the amount and timing, an unfavorable resolution of some or all of these matters could materially affect our future results of operations in a particular period. Additionally, the Distribution Agreement and Tax Matters Agreement provide for cross-indemnities that, except as otherwise provided in the Distribution Agreement and Tax Matters Agreement, are principally designed to place financial responsibility for the obligations and liabilities of Hilton, HGV and the Company with the appropriate company. See “Spin-off Related Agreements – Distribution Agreement” and “– Tax Matters Agreement” and Note 15: “Commitments and Contingencies” in our audited consolidated financial statements included elsewhere within this Annual Report on Form 10-K for additional information. Item 4. M ine Safety Disclosures. Not applicable. 31 PART II