Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

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, 2019

				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(a)	Life Upon Which Depreciation is Computed
Caribe Hilton	$	—		$	38	$	56	$	7	$	87		$	41	$	115	$	32	$	188	$	(28	)	1949	10/24/2007	3 - 40 years
DoubleTree Hotel Durango		—			—		—		2		6			—		3		5		8		(6	)	1985	10/24/2007	3 - 40 years
DoubleTree Hotel Ontario Airport		30			14		58		3		15			12		63		15		90		(24	)	1974	10/24/2007	3 - 40 years
DoubleTree Hotel San Diego—Mission    Valley		—			—		—		2		17			—		9		10		19		(11	)	1989	10/24/2007	3 - 40 years
DoubleTree Hotel San Jose		—			15		67		5		25			15		82		15		112		(36	)	1980	10/24/2007	3 - 40 years
DoubleTree Hotel Seattle Airport		—			—		—		11		27			—		11		27		38		(29	)	1969	10/24/2007	3 - 40 years
DoubleTree Hotel Sonoma Wine Country		—			—		—		4		11			—		6		9		15		(10	)	1977	10/24/2007	3 - 40 years
Embassy Suites Austin Downtown South     Congress		—			—		45		2		17			—		57		7		64		(28	)	1983	10/24/2007	3 - 40 years
Embassy Suites Phoenix—Airport		—			—		15		1		(9	)		—		3		4		7		(5	)	1986	10/24/2007	3 - 40 years
Hilton Boston Logan Airport		—			—		108		6		31			—		127		18		145		(46	)	1999	10/24/2007	3 - 40 years
Hilton Chicago		—			69		233		12		144			69		340		49		458		(132	)	1927	10/24/2007	3 - 40 years
Hilton Hawaiian Village Waikiki    Beach Resort		1,275			925		807		17		341			964		1,044		82		2,090		(410	)	1961	10/24/2007	3 - 40 years
Hilton McLean Tysons Corner		—			50		82		3		(15	)		23		55		42		120		(62	)	1987	10/24/2007	3 - 40 years
Hilton New Orleans Riverside		—			89		217		3		87			90		261		45		396		(112	)	1977	10/24/2007	3 - 40 years
Hilton Oakland Airport		—			—		13		3		2			—		9		9		18		(9	)	1970	10/24/2007	3 - 40 years
Hilton Salt Lake City Center		—			—		—		10		20			—		8		22		30		(22	)	2002	10/24/2007	3 - 40 years
Hilton San Francisco Union Square		725	(1)		113		232		16		135			113		333		50		496		(127	)	1964	10/24/2007	3 - 40 years
Hilton Santa Barbara Beachfront Resort		165			71		50		2		22			71		64		10		145		(17	)	1986	10/24/2007	3 - 40 years
Hilton Seattle Airport & Conference    Center		—			—		70		3		16			—		80		9		89		(36	)	1961	10/24/2007	3 - 40 years
Hilton Short Hills		—			59		54		3		20			59		64		13		136		(25	)	1988	10/24/2007	3 - 40 years
Hilton Waikoloa Village		—			160		340		25		(75	)		106		288		56		450		(138	)	1988	10/24/2007	3 - 40 years
New York Hilton Midtown		—			1,096		542		13		138			1,043		656		90		1,789		(236	)	1963	10/24/2007	3 - 40 years
Embassy Suites Washington DC    Georgetown		—			62		53		2		(21	)		40		46		10		96		(16	)	1990	12/4/2007	3 - 40 years
DoubleTree Hotel Washington DC—Crystal    City		—			43		95		2		48			43		127		18		188		(55	)	1982	12/14/2007	3 - 40 years
Hilton Miami Airport		—			64		36		3		37			64		60		16		140		(32	)	1984	12/14/2007	3 - 40 years
DoubleTree Hotel Spokane City Center		12			3		24		2		11			3		30		7		40		(12	)	1986	1/1/2010	3 - 40 years
Hilton Orlando Lake Buena Vista		—			—		137		10		38			—		161		24		185		(56	)	1983	8/30/2010	3 - 40 years
Embassy Suites Kansas City—Plaza		—			—		26		1		3			—		28		2		30		(14	)	1973	7/25/2014	3 - 40 years
Hilton Orlando Bonnet Creek		—			15		377		31		48			16		401		54		471		(82	)	2009	2/12/2015	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, 2019

				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(a)	Life Upon Which Depreciation is Computed
Parc 55 San Francisco - A Hilton Hotel	$	—	(1)	$	175	$	315	$	32	$	15	$	175	$	325	$	37	$	537	$	(71	)	1984	2/12/2015	3 - 40 years
Waldorf Astoria Orlando		—			34		274		29		9		34		275		37		346	$	(70	)	2009	2/12/2015	3 - 40 years
Casa Marina, A Waldorf Astoria Resort		—			164		174		9		5		164		176		12		352		(30	)	1920	2/17/2015	3 - 40 years
The Reach Key West, Curio Collection		—			57		67		3		14		57		81		3		141		(9	)	1970	2/17/2015	3 - 40 years
Juniper Hotel Cupertino, Curio Collection		—			40		64		8		2		40		64		10		114		(17	)	1973	6/2/2015	3 - 40 years
Boston Marriott Newton		—			24		74		15		—		24		74		15		113		(1	)	1969	9/18/2019	3 - 40 years
Courtyard Washington Capitol Hill/Navy Yard		—			13		54		5		—		13		54		5		72		(1	)	2006	9/18/2019	3 - 40 years
Hilton Checkers Los Angeles		28			19		44		7		—		19		44		7		70		(1	)	1927	9/18/2019	3 - 40 years
Hilton Denver City Center		61			14		163		21		—		14		163		21		198		(3	)	1982	9/18/2019	3 - 40 years
Homewood Suites by Hilton Seattle    Convention Center Pike Street		—			5		75		7		—		5		75		7		87		(1	)	1990	9/18/2019	3 - 40 years
Hotel Adagio, Autograph Collection		—			25		54		7		—		25		54		7		86		(1	)	1929	9/18/2019	3 - 40 years
Hotel Indigo San Diego Gaslamp Quarter		—			7		60		8		—		7		60		8		75		(1	)	2009	9/18/2019	3 - 40 years
Hyatt Centric Fisherman’s Wharf		—			33		122		11		—		33		122		11		166		(2	)	1990	9/18/2019	3 - 40 years
Hyatt Regency Boston		141			—		177		14		—		—		177		14		191		(3	)	1985	9/18/2019	3 - 40 years
Hyatt Regency Mission Bay Spa and Marina		—			5		118		15		—		5		118		15		138		(2	)	1961	9/18/2019	3 - 40 years
JW Marriott San Francisco Union Square		—			—		191		13		—		—		191		13		204		(2	)	1987	9/18/2019	3 - 40 years
Le Meridien San Francisco		—			48		176		8		—		48		176		8		232		(2	)	1989	9/18/2019	3 - 40 years
Royal Palm South Beach Miami, a Tribute    Portfolio Resort		—			16		139		12		—		16		139		12		167		(2	)	1926	9/18/2019	3 - 40 years
W Chicago – City Center		79			20		76		14		1		20		77		14		111		(1	)	1928	9/18/2019	3 - 40 years
W Chicago – Lakeshore		—			22		58		8		—		22		58		8		88		(1	)	1965	9/18/2019	3 - 40 years
W New Orleans – French Quarter		—			3		21		1		—		3		21		1		25		(1	)	1872	9/18/2019	3 - 40 years
Total	$	2,516		$	3,610	$	6,233	$	451	$	1,272	$	3,496	$	7,055	$	1,015	$	11,566	$	(2,038	)

^(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 Blackstone Merger.

Park Hotels & Resorts Inc.

Schedule III

Real Estate and Accumulated Depreciation—(continued)

(Dollars in millions)

December 31, 2019

Notes:

(A) The change in total cost of properties for the fiscal years ended December 31, 2019, 2018 and 2017 is as follows:

	Year Ended December 31,
	2019			2018			2017
	(in millions)
Balance at beginning of period	$	9,921		$	10,249		$	10,310
Additions during period:
Acquisitions		2,220			—			—
Capital expenditures		248			192			198
Deductions during period:
Transfers to assets held for sale		(86	)		—			(46	)
Dispositions, including casualty losses and impairment loss on    planned dispositions		(734	)		(512	)		(236	)
Foreign exchange effect		(3	)		(8	)		23
Balance at end of period	$	11,566		$	9,921		$	10,249

(B) The change in accumulated depreciation for the fiscal years ended December 31, 2019, 2018 and 2017 is as follows:

	Year Ended December 31,
	2019			2018			2017
	(in millions)
Balance at beginning of period	$	2,011		$	2,004		$	1,832
Additions during period:
Depreciation expense		256			268			280
Deductions during period:
Transfers to assets held for sale		(24	)		—			(15	)
Dispositions, including casualty losses		(206	)		(262	)		(85	)
Foreign exchange effect		1			1			(8	)
Balance at end of period	$	2,038		$	2,011		$	2,004

(C) The aggregate cost of real estate for U.S. federal income tax purposes is approximately $6.803 billion as of December 31, 2019.