Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Park Hotels & Resorts Inc.

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in millions)

December 31, 2022

				Initial Cost									Gross Amounts at Which Carried at Close of Period
Hotel Property	Encumbrances			Land		Building & Improvements		Furniture, Fixtures & Equipment		Costs Capitalized Subsequent to Acquisition			Land		Building & Improvements		Furniture, Fixtures & Equipment		Total		Accumulated Depreciation			Date of Construction	Date Acquired(1)	Life Upon Which Depreciation is Computed
Caribe Hilton	$	—		$	38	$	56	$	7	$	85		$	40	$	111	$	35	$	186	$	(50	)	1949	10/24/2007	3 - 40 years
DoubleTree Hotel Durango		—			—		—		2		5			—		2		5		7		(5	)	1985	10/24/2007	3 - 40 years
DoubleTree Hotel Ontario Airport		30			14		58		3		20			13		64		18		95		(38	)	1974	10/24/2007	3 - 40 years
DoubleTree Hotel San Diego – Mission    Valley		—			—		—		2		17			—		10		9		19		(13	)	1989	10/24/2007	3 - 40 years
DoubleTree Hotel San Jose		—			15		67		5		26			15		82		16		113		(45	)	1980	10/24/2007	3 - 40 years
DoubleTree Hotel Seattle Airport		—			—		—		11		27			—		11		27		38		(33	)	1969	10/24/2007	3 - 40 years
DoubleTree Hotel Sonoma Wine Country		—			—		—		4		11			—		6		9		15		(12	)	1977	10/24/2007	3 - 40 years
Embassy Suites Austin Downtown South     Congress		—			—		45		2		18			—		57		8		65		(39	)	1983	10/24/2007	3 - 40 years
Embassy Suites Phoenix—Airport		—			—		15		1		(16	)		—		—		—		—		—		1986	10/24/2007	3 - 40 years
Hilton Boston Logan Airport		—			—		108		6		31			—		130		15		145		(55	)	1999	10/24/2007	3 - 40 years
Hilton Chicago		—			69		233		12		177			70		368		53		491		(173	)	1927	10/24/2007	3 - 40 years
Hilton Hawaiian Village Waikiki    Beach Resort		1,275			925		807		17		389			964		1,077		97		2,138		(503	)	1961	10/24/2007	3 - 40 years
Hilton McLean Tysons Corner		—			50		82		3		(14	)		23		55		43		121		(67	)	1987	10/24/2007	3 - 40 years
Hilton New Orleans Riverside		—			89		217		3		98			90		269		48		407		(142	)	1977	10/24/2007	3 - 40 years
Hilton Oakland Airport		—			—		13		3		1			—		9		8		17		(11	)	1970	10/24/2007	3 - 40 years
Hilton Salt Lake City Center		—			—		—		10		19			—		8		21		29		(24	)	2002	10/24/2007	3 - 40 years
Hilton San Francisco Union Square		725	(2)		113		232		16		138			114		342		43		499		(159	)	1964	10/24/2007	3 - 40 years
Hilton Santa Barbara Beachfront Resort		162			71		50		2		43			71		75		20		166		(40	)	1986	10/24/2007	3 - 40 years
Hilton Seattle Airport & Conference    Center		—			—		70		3		16			—		80		9		89		(42	)	1961	10/24/2007	3 - 40 years
Hilton Short Hills		—			59		54		3		(91	)		13		10		2		25		(2	)	1988	10/24/2007	3 - 40 years
Hilton Waikoloa Village		—			160		340		25		(63	)		110		291		61		462		(172	)	1988	10/24/2007	3 - 40 years
New York Hilton Midtown		—			1,096		542		13		135			1,043		655		88		1,786		(305	)	1963	10/24/2007	3 - 40 years
DoubleTree Hotel Washington DC – Crystal    City		—			43		95		2		49			43		127		19		189		(69	)	1982	12/14/2007	3 - 40 years
Hilton Miami Airport		—			64		36		3		39			64		61		17		142		(41	)	1984	12/14/2007	3 - 40 years
DoubleTree Hotel Spokane City Center		14			3		24		2		12			3		30		8		41		(15	)	1986	1/1/2010	3 - 40 years
Hilton Orlando Lake Buena Vista		—			—		137		10		40			—		156		31		187		(74	)	1983	8/30/2010	3 - 40 years
Embassy Suites Kansas City – Plaza		—			—		26		1		4			—		28		3		31		(22	)	1973	7/25/2014	3 - 40 years
Signia by Hilton Orlando Bonnet Creek		—			15		377		31		101			18		474		32		524		(94	)	2009	2/12/2015	3 - 40 years

Park Hotels & Resorts Inc.

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in millions)

December 31, 2022

				Initial Cost								Gross Amounts at Which Carried at Close of Period
Hotel Property	Encumbrances			Land		Building & Improvements		Furniture, Fixtures & Equipment		Costs Capitalized Subsequent to Acquisition		Land		Building & Improvements		Furniture, Fixtures & Equipment		Total		Accumulated Depreciation			Date of Construction	Date Acquired(1)	Life Upon Which Depreciation is Computed
Parc 55 San Francisco – A Hilton Hotel	$	—	(2)	$	175	$	315	$	32	$	20	$	175	$	329	$	38	$	542	$	(100	)	1984	2/12/2015	3 - 40 years
Waldorf Astoria Orlando		—			34		274		29		22		34		289		36		359		(95	)	2009	2/12/2015	3 - 40 years
Casa Marina Key West, Curio Collection		—			164		174		9		13		164		184		12		360		(47	)	1920	2/17/2015	3 - 40 years
The Reach Key West, Curio Collection		—			57		67		3		18		57		79		9		145		(20	)	1970	2/17/2015	3 - 40 years
Juniper Hotel Cupertino, Curio Collection		—			40		64		8		—		40		65		7		112		(19	)	1973	6/2/2015	3 - 40 years
Boston Marriott Newton		—			24		74		15		2		24		75		16		115		(16	)	1969	9/18/2019	3 - 40 years
Hilton Checkers Los Angeles		—			19		44		7		2		19		46		7		72		(7	)	1927	9/18/2019	3 - 40 years
Hilton Denver City Center		56			14		163		21		—		14		163		21		198		(25	)	1982	9/18/2019	3 - 40 years
Hyatt Centric Fisherman’s Wharf		—			33		122		11		1		33		123		11		167		(21	)	1990	9/18/2019	3 - 40 years
Hyatt Regency Boston		132			—		177		14		1		—		178		14		192		(28	)	1985	9/18/2019	3 - 40 years
Hyatt Regency Mission Bay Spa and Marina		—			5		118		15		3		5		120		16		141		(20	)	1961	9/18/2019	3 - 40 years
JW Marriott San Francisco Union Square		—			—		191		13		2		—		193		13		206		(23	)	1987	9/18/2019	3 - 40 years
Royal Palm South Beach Miami, a Tribute    Portfolio Resort		—			16		139		12		4		16		142		13		171		(20	)	1926	9/18/2019	3 - 40 years
W Chicago – City Center		75			20		76		14		1		20		77		14		111		(13	)	1928	9/18/2019	3 - 40 years
W Chicago – Lakeshore		—			22		58		8		2		22		59		9		90		(13	)	1965	9/18/2019	3 - 40 years
Total	$	2,469		$	3,447	$	5,740	$	413	$	1,408	$	3,317	$	6,710	$	981	$	11,008	$	(2,712	)

(1) On October 24, 2007, a predecessor to our Parent became a wholly owned subsidiary of an affiliate of The Blackstone Group L.P. following the completion of the Blackstone Merger.

(2) Single $725 million CMBS loan secured by Hilton San Francisco Union Square and Parc 55 San Francisco – A Hilton Hotel.

Park Hotels & Resorts Inc.

Schedule III

Real Estate and Accumulated Depreciation—(continued)

(Dollars in millions)

December 31, 2022

Notes:

(A) The change in total cost of properties for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows:

	Year Ended December 31,
	2022			2021			2020
	(in millions)
Balance at beginning of period	$	11,010		$	11,376		$	11,566
Additions during period:
Capital expenditures		188			62			66
Transfer to real estate assets (1)		—			83			—
Deductions during period:
Dispositions, including casualty losses and impairment loss on    planned dispositions		(190	)		(511	)		(250	)
Foreign exchange effect		—			—			(6	)
Balance at end of period	$	11,008		$	11,010		$	11,376

(1) During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company.

(B) The change in accumulated depreciation for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows:

	Year Ended December 31,
	2022			2021			2020
	(in millions)
Balance at beginning of period	$	2,504		$	2,241		$	2,038
Additions during period:
Depreciation expense		267			280			294
Transfer to real estate assets (1)		—			30			—
Deductions during period:
Dispositions, including casualty losses		(59	)		(47	)		(89	)
Foreign exchange effect		—			—			(2	)
Balance at end of period	$	2,712		$	2,504		$	2,241

(1) During 2021, four of our hotels that were previously managed by us were transitioned to a third-party hotel management company.

(C) The aggregate cost of real estate for U.S. federal income tax purposes is approximately $6.288 billion as of December 31, 2022.