{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-026229","form_type":"8-K","ticker":"PK","cik":"0001617406","company_name":"Park Hotels & Resorts Inc.","filed_at":"2023-06-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.680755+00:00","generated_at":"2026-06-14T07:23:08.125978+00:00","sec_items":["7.01","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Park Hotels ceases payments on $725M SF CMBS loan, expects hotel removal","bullets":["Cessation of payments on $725M non-recourse CMBS loan secured by Hilton San Francisco Union Square and Parc 55.","No June 1 interest payment; maturity Nov 2023; lenders may accelerate and foreclose.","Expected removal of both hotels from portfolio; net leverage to improve 0.9x to 5.1x.","Annual interest savings of ~$30M; potential special dividend $150-175M post-disposition.","CEO cites record office vacancy, weak convention calendar, prolonged SF recovery."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-026229","json":"https://secwatch.observer/filing/0000950170-23-026229.json","markdown":"https://secwatch.observer/filing/0000950170-23-026229.md","text":"https://secwatch.observer/filing/0000950170-23-026229.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1617406/000095017023026229/0000950170-23-026229-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1617406/000095017023026229/pk-20230605.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T07:23:08.125978+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}