Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Debt balances and associated interest rates as of December 31, 2022 were:

			Principal balance as of
	Interest Rate at December 31, 2022	Maturity Date	December 31, 2022			December 31, 2021
			(in millions)
SF Mortgage Loan	4.11%	November 2023	$	725		$	725
HHV Mortgage Loan	4.20%	November 2026		1,275			1,275
Other mortgage loans(1)	Average rate of 4.35%	2023 to 2027(2)		469			503
Revolver(3)	SOFR + 2.10%	December 2026		50			—
2019 Term Facility(4)	N/A	August 2024		—			78
2025 Senior Notes	7.50%	June 2025		650			650
2028 Senior Notes	5.88%	October 2028		725			725
2029 Senior Notes	4.88%	May 2029		750			750
				4,644			4,706
Add: unamortized premium				3			4
Less: unamortized deferred financing costs and    discount				(30	)		(38	)
			$	4,617		$	4,672

(1) In December 2022, we fully repaid the $26 million mortgage loan secured by the Hilton Checkers Los Angeles.

(2) Assumes the exercise of all extensions that are exercisable solely at our option. The mortgage loan for Hilton Denver City Center matures in 2042 but is callable by the lender with six months of notice. As of December 31, 2022, Park had not received notice from the lender.

(3) As of December 31, 2022, we had approximately $900 million of available capacity under our revolving credit facility ("Revolver").

(4) In December 2022, the 2019 Term Facility was fully repaid.

Debt Maturities, Assuming the Exercise of all Extensions that are Exercisable Solely at our Option

The contractual maturities of our debt, assuming the exercise of all extensions that are exercisable solely at our option, as of December 31, 2022 were:

Year	(in millions)
2023	$	863
2024		7
2025		657
2026		1,613
2027		30
Thereafter(1)		1,474
	$	4,644

(1) Assumes the exercise of all extensions that are exercisable solely at our option.