Stock Monitor: GreenTree Hospitality Group Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free research report on Park Hotels & Resorts Inc. (NYSE: PK) ("Park"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PK as the Company's latest news hit the wire. On May 18, 2018, the Company announced that it has closed on the sale of the 601-room Hilton Berlin, located in Berlin, Germany. The gross proceeds from the sale is ?297 million, before customary closing adjustments. Park's pro-rata share of gross proceeds was approximately $140 million. The sale price represents an earnings before interest, tax, depreciation, and amortization (EBITDA) multiple of approximately 20x the Hotel's 2017 EBITDA. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Park Hotels & Resorts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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This Sale will Simplify Park Hotels & Resorts' Ownership Structure of the Assets

Thomas J. Baltimore, Jr., Chairman, and CEO of Park Hotels & Resorts, stated that the Company is excited to announce the execution of another non-core asset sale at extremely favorable pricing. According to him, the Company has been laser-focused on reshaping its portfolio and maximizing value for its stockholders, and it is pleased that this sale helps to reduce its exposure to international markets, while further simplifying the ownership structure of the assets.

Thomas added that since the start of the year, Park has successfully sold over $500 million in non-core assets.

As per Thomas, the Company continues to be impressed by the strong demand for hotel assets and is very encouraged as it begins the second phase of the capital recycling program.

Following the Sale, Park now has Ownership Interests in Four Hotels Outside United States

The sale of the Hotel marks the 13th hotel that Park has sold in 2018 and the 10th hotel located in an international market. The sale exemplifies Park's strategy of recycling capital out of non-core assets and reducing its exposure to international markets as well as joint venture interests. Following the sale, Park now has ownership interests in four hotels outside the US, accounting for approximately 1% of adjusted EBITDA, down from 14 hotels held at the beginning of the year, which represented approximately 5% of its 2017 adjusted EBITDA.

Special Dividend Declaration

Park's Board also announced a special cash dividend of $0.45 per share (or approximately $90 million) to be paid on July 16th to stockholders of record as of June 29, 2018. This special dividend is in addition to the previously announced regular quarterly dividend of $0.43 per share declared by Park's Board on April 27, 2018, for a total of $0.88 per share to be distributed.

Deal Previously Announced in April 2018

Park and the joint venture owners of the entities that own the Hilton Berlin entered into a deal in April 2018 to sell the ownership interest in these entities for a gross sales price of approximately $367 million, which was subject to customary adjustments. Park owned a 40% interest in the joint venture, which had no debt outstanding, and was expected to receive net proceeds of approximately $140 million subject to the aforementioned adjustments.

About Park Hotels & Resorts Inc.

Founded in 2017 and headquartered in Mclean, Virginia, Park Hotels & Resorts is one of the largest publicly traded lodging real estate investment trusts with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. The Company's portfolio currently consists of 54 premium-branded hotels and resorts with over 32,000 rooms located in prime US and international markets with high barriers to entry.

Stock Performance Snapshot

May 21, 2018 - At Monday's closing bell, Park Hotels & Resorts' stock climbed 1.65%, ending the trading session at $31.45.

Volume traded for the day: 1.80 million shares.

Stock performance in the last month ? up 9.97%; previous three-month period ? up 18.46%; past twelve-month period ? up 24.01%; and year-to-date - up 9.39%

After yesterday's close, Park Hotels & Resorts' market cap was at $6.64 billion.

The stock has a dividend yield of 5.47%.

The stock is part of the Services sector, categorized under the Lodging industry. This sector was up 0.7% at the end of the session.

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