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Park Hotels & Resorts Inc. Announces Sale of Hyatt Centric Fisherman's Wharf

1. Park Hotels sold Hyatt Centric for $80 million, enhancing liquidity. 2. Sale proceeds will fund ROI projects and corporate purposes.

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FAQ

Why Bullish?

The successful sale indicates strong asset management and liquidity. Historically, strategic asset sales have boosted confidence in hotel chains.

How important is it?

The sale improves financial flexibility, crucial for investor confidence and growth plans.

Why Short Term?

Immediate liquidity benefits may positively influence stock performance. Previous asset sales have shown rapid stock price reactions.

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MARHLTWYN
TYSONS, Va.--(BUSINESS WIRE)---- $PK--Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it has closed on the sale of the 316-room Hyatt Centric Fisherman's Wharf located in San Francisco, CA for $80 million, or $253,000 per key. The sale price represents 64.0x 2024 EBITDA of the hotel. Proceeds from the sale will be used for ongoing return on investment (“ROI”) projects in Park's portfolio and for other general corporate purposes. “Despite a challenging transaction market, I am ve.

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