Park Hotels & Resorts Inc. is a lodging real estate investment trust (REIT). The Company has a diverse portfolio of hotels and resorts with underlying real estate value. The Company operates through the consolidated hotels segment. The Company holds investments in entities that have ownership or leasehold interests in about 46 hotels, consisting of premium-branded hotels and resorts with over 29,000 rooms, of which approximately 88% are luxury and upper upscale and are located in the United States markets and its territories. Its portfolio includes hotels mostly in major urban and convention areas, such as New York City, Washington, D.C., Chicago, San Francisco, Boston, New Orleans and Denver; and premier resorts in key leisure destinations, including Hawaii, Orlando, Key West and Miami Beach; as well as hotels in select airports and suburban locations. It affiliates with brands, such as Hilton, Marriott and Hyatt, and the Company partners with both brand and third-party operators.