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Park Hotels & Resorts Inc. Announces the Reopening of the Caribe Hilton

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TYSONS, Va.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24PK&src=ctag” target=”_blank”gt;$PKlt;/agt; lt;a href=”https://twitter.com/hashtag/caribehilton?src=hash” target=”_blank”gt;#caribehiltonlt;/agt;–Park Hotels & Resorts Inc. (“Park”) (NYSE:PK) announced that the Caribe
Hilton (“the Resort”) in San Juan, Puerto Rico reopened today following
a $150-million restoration. The 652-room resort was impaired for 20
months after sustaining significant damage from Hurricane Maria in
September 2017.

“We are thrilled to re-introduce the iconic Caribe Hilton to guests and
locals alike,” said Thomas J. Baltimore, Jr., Chairman and Chief
Executive Officer of Park Hotels & Resorts. “We have worked tirelessly
to restore, reimagine and enhance the hotel, and we are confident that
the finished product is worthy of the hotel’s legendary history. We look
forward to welcoming everyone to the Resort and to the wonderful island
of Puerto Rico.”

The Resort, which was the first Hilton property to open outside the
continental United States in 1949, underwent extensive restoration,
renovation and transformation that touched nearly all aspects of the
property. The scope of the work included a comprehensive renovation of
all 652 guestrooms and public spaces as well as upgrades to all building
systems and building envelopes to better fortify the exterior against
future storms.

Of particular note, the Resort’s fitness and spa building was also
completely rebuilt and transformed, featuring oceanfront views from
floor-to-ceiling glass windows, all-new fitness equipment and a
state-of-the-art spa. The Resort’s sense of arrival has been greatly
enhanced, with the landscaping meticulously restored to evoke the
Resort’s 1940s heritage. The open-air lobby was redesigned to highlight
the expansive ocean views, while the color scheme has been tailored to
reflect the vibrancy of the island. The Resort’s 11 food and beverage
outlets were renovated and transformed to better serve customer
preferences, including the introduction of a swim-up bar. The Resort’s
65,000 square feet of meeting space was also renovated and modernized,
including new audio-visual equipment as well as activated indoor/outdoor
spaces and breakout areas.

The Resort’s soft opening will be punctuated by weekend festivities
featuring local artists and performers. A grand opening celebration is
scheduled to take place on June 18, 2019, highlighting 70 years of
hospitality in Puerto Rico.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc. (NYSE: PK) is the second largest publicly
traded lodging real estate investment trust with a diverse portfolio of
market-leading hotels and resorts with significant underlying real
estate value. Park’s portfolio currently consists of 51 premium-branded
hotels and resorts with over 30,000 rooms located in prime U.S. markets
with high barriers to entry. For additional information, please visit
Park’s website at www.pkhotelsandresorts.com.

For additional information or to receive press releases via e-mail,
please visit our website at
www.pkhotelsandresorts.com

Contacts

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Ian Weissman
Senior Vice President, Corporate Strategy
571-302-5591
[email protected]


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