Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2017

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, 2017

			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			Foreign Currency Adjustment			Land		Building & Improvements		Furniture, Fixtures & Equipment		Total		Accumulated Depreciation			Date of Construction	Date Acquired(a)	Life Upon Which Depreciation is Computed
Waldorf Astoria Orlando	$	—	$	34	$	274	$	29	$	4		$	—		$	34	$	274	$	33	$	341	$	(44	)	2009	2/12/2015	3 -40 years
Casa Marina, A Waldorf Astoria Resort		—		164		174		9		2			—			165		173		11		349		(19	)	1920	2/17/2015	3 - 40 years
The Reach, A Waldorf Astoria Resort		—		57		67		3		3			—			57		68		5		130		(7	)	1970	2/17/2015	3 - 40 years
Hilton Hawaiian Village Beach Resort		1,275		925		807		17		293			—			954		1,012		76		2,042		(344	)	1961	10/24/2007	3 - 40 years
New York Hilton Midtown		—		1,096		542		13		128			—			1,043		647		89		1,779		(198	)	1963	10/24/2007	3 - 40 years
Hilton San Francisco Union Square	—(1)			113		232		16		138			—			113		331		55		499		(114	)	1964	10/24/2007	3 - 40 years
Hilton New Orleans Riverside		—		89		217		3		84			—			90		254		49		393		(108	)	1977	10/24/2007	3 - 40 years
Hilton Chicago		—		69		233		12		155			—			69		340		60		469		(122	)	1927	10/24/2007	3 - 40 years
Hilton Waikoloa Village		—		160		340		25		90			—			154		391		70		615		(167	)	1988	10/24/2007	3 - 40 years
Parc 55 San Francisco - A Hilton Hotel	725(1)			175		315		32		8			—			175		320		35		530		(45	)	1984	2/12/2015	3 - 40 years
Hilton Orlando Bonnet Creek		—		15		377		31		9			—			16		381		35		432		(52	)	2009	2/12/2015	3 - 40 years
Caribe Hilton		—		38		56		7		(7	)		—			39		39		16		94		(30	)	1949	10/24/2007	3 - 40 years
Hilton Chicago O’Hare Airport		—		—		114		8		14			—			—		116		20		136		(119	)	1971	10/24/2007	3 - 40 years
Hilton Orlando Lake Buena Vista		—		—		137		10		27			—			—		152		22		174		(44	)	1983	8/30/2010	3 - 40 years
Hilton Boston Logan Airport		—		—		108		6		12			—			—		113		13		126		(38	)	1999	10/24/2007	3 - 40 years
Pointe Hilton Squaw Peak Resort		—		14		45		5		(19	)		—			5		23		17		45		(13	)	1977	10/24/2007	3 - 40 years
Hilton Miami Airport		—		64		36		3		35			—			64		59		15		138		(26	)	1984	12/14/2007	3 - 40 years
Hilton Atlanta Airport		—		10		99		3		26			—			10		113		15		138		(41	)	1989	10/24/2007	3 - 40 years
Hilton São Paulo Morumbi		—		18		116		4		34			(70	)		10		79		13		102		(23	)	2002	10/24/2007	3 - 40 years
Hilton McLean Tysons Corner		—		50		82		3		(16	)		—			23		54		42		119		(51	)	1987	10/24/2007	3 - 40 years
Hilton Seattle Airport & Conference    Center		—		—		70		3		15			—			—		80		8		88		(32	)	1961	10/24/2007	3 - 40 years
Hilton Oakland Airport		—		—		13		3		—			—			—		9		7		16		(6	)	1970	10/24/2007	3 - 40 years
Hilton New Orleans Airport		—		12		32		4		16			—			12		43		9		64		(18	)	1989	10/24/2007	3 - 40 years
Hilton Short Hills		—		59		54		3		15			—			59		67		5		131		(19	)	1988	10/24/2007	3 - 40 years
Hilton Blackpool		—		15		22		4		(5	)		(13	)		4		12		7		23		(8	)	1982	10/24/2007	3 - 40 years
Hilton Rotterdam		—		5		33		3		52			(11	)		4		68		10		82		(23	)	1963	10/24/2007	3 - 40 years
Hilton Belfast		—		1		13		2		12			(8	)		1		11		8		20		(9	)	1998	10/24/2007	3 - 40 years
Hilton London Angel Islington		—		4		18		3		14			(13	)		—		20		6		26		(9	)	1997	10/24/2007	3 - 40 years
Hilton Edinburgh Grosvenor		—		2		17		3		22			(14	)		—		24		6		30		(10	)	1999	10/24/2007	3 - 40 years
Hilton Coylumbridge		—		14		5		3		(17	)		(5	)		—		—		—		—		—		1965	10/24/2007	3 - 40 years
Hilton Bath City		—		—		12		2		12			(8	)		—		12		6		18		(8	)	1973	10/24/2007	3 - 40 years
Hilton Nuremberg Hotel		—		—		2		—		7			—			—		5		4		9		(5	)	1990	5/31/2013	3 - 40 years
Hilton Milton Keynes		—		13		10		2		(10	)		(7	)		3		3		2		8		(1	)	1991	10/24/2007	3 - 40 years

⁽¹⁾ 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, 2017

			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			Foreign Currency Adjustment			Land		Building & Improvements		Furniture, Fixtures & Equipment		Total		Accumulated Depreciation			Date of Construction	Date Acquired(a)	Life Upon Which Depreciation is Computed
Hilton Sheffield		—		—		14		2		(12	)		(4	)		—		—		—		—		—		1997	10/24/2007	3 - 40 years
Hilton Salt Lake City Center		—		—		—		10		18			—			—		7		21		28		(20	)	2002	10/24/2007	3 - 40 years
Juniper Hotel Cupertino, Curio Collection		—		40		64		8		2			—			40		64		10		114		(10	)	1973	6/2/2015	3 - 40 years
DoubleTree Hotel Washington DC—Crystal        City		—		43		95		2		48			—			43		127		18		188		(46	)	1982	12/14/2007	3 - 40 years
DoubleTree Hotel San Jose		—		15		67		5		21			—			15		80		13		108		(30	)	1980	10/24/2007	3 - 40 years
DoubleTree Hotel Ontario Airport		30		14		58		3		4			—			12		59		8		79		(15	)	1974	10/24/2007	3 - 40 years
DoubleTree Hotel Spokane City Center		12		3		24		2		7			—			3		29		4		36		(8	)	1986	1/1/2010	3 - 40 years
DoubleTree Hotel Seattle Airport		—		—		—		11		25			—			—		11		25		36		(26	)	1987	10/24/2007	3 - 40 years
DoubleTree Hotel San Diego—Mission    Valley		—		—		—		2		17			—			—		11		8		19		(8	)	1989	10/24/2007	3 - 40 years
DoubleTree Hotel Sonoma Wine Country		—		—		—		4		11			—			—		6		9		15		(9	)	1977	10/24/2007	3 - 40 years
DoubleTree Hotel Durango		—		—		—		2		6			—			—		3		5		8		(5	)	1985	10/24/2007	3 - 40 years
The Fess Parker Santa Barbara Hotel —    a DoubleTree Resort		165		71		50		2		14			—			71		60		6		137		(14	)	1986	10/24/2007	3 - 40 years
Embassy Suites Washington DC Georgetown		—		62		53		2		(25	)		—			39		43		10		92		(12	)	1990	12/4/2007	3 - 40 years
Embassy Suites Parsippany		—		6		32		1		3			—			6		33		3		42		(4	)	1984	7/25/2014	3 - 40 years
Embassy Suites Kansas City—Plaza		—		—		26		1		2			—			—		27		2		29		(9	)	1973	7/25/2014	3 - 40 years
Embassy Suites Austin—Downtown Town    Lake		—		—		45		2		16			—			—		56		7		63		(23	)	1983	10/24/2007	3 - 40 years
Embassy Suites Atlanta—Perimeter    Center		—		6		22		1		1			—			6		23		1		30		(3	)	1969	7/25/2014	3 - 40 years
Embassy Suites San Rafael—Marin    County		—		7		27		1		2			—			7		28		2		37		(3	)	1990	7/25/2014	3 - 40 years
Embassy Suites Kansas City—Overland    Park		—		2		12		—		2			—			2		12		2		16		(2	)	1987	7/25/2014	3 - 40 years
Embassy Suites Phoenix—Airport		—		—		15		1		(10	)		—			—		2		4		6		(4	)	1986	10/24/2007	3 - 40 years
Total	$	2,207	$	3,485	$	5,276	$	336	$	1,305		$	(153	)	$	3,348	$	5,974	$	927	$	10,249	$	(2,004	)

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

Park Hotels & Resorts Inc.

Schedule III

Real Estate and Accumulated Depreciation—(continued)

(Dollars in millions)

December 31, 2017

Notes:

(A) The change in total cost of properties for the fiscal years ended December 31, 2017, 2016 and 2015 is as follows:

	Year Ended December 31,
	2017			2016			2015
	(in millions)
Balance at beginning of period	$	10,310		$	10,253		$	8,220
Additions during period:
Acquisitions(1)		—			—			1,872
Capital expenditures		198			224			224
Deductions during period:
Transfers to assets held for sale		(46	)		—			—
Dispositions, including casualty losses and impairment loss on    planned dispositions		(236	)		(161	)		(3	)
Foreign exchange effect		23			(6	)		(60	)
Balance at end of period	$	10,249		$	10,310		$	10,253

⁽¹⁾ In 2015, as part of a tax deferred exchange of real property, certain properties from sellers affiliated with The Blackstone Group L.P., a related party at the time of the transaction, were acquired for a total purchase price of $1.76 billion.

(B) The change in accumulated depreciation for the fiscal years ended December 31, 2017, 2016 and 2015 is as follows:

	Year Ended December 31,
	2017			2016			2015
	(in millions)
Balance at beginning of period	$	1,832		$	1,639		$	1,372
Additions during period:
Depreciation expense		280			292			279
Deductions during period:
Transfers to assets held for sale		(15	)		—			—
Dispositions, including casualty losses		(85	)		(95	)		(3	)
Foreign exchange effect		(8	)		(4	)		(9	)
Balance at end of period	$	2,004		$	1,832		$	1,639

(C) The aggregate cost of real estate for federal income tax purposes is approximately $5.407 billion as of December 31, 2017.