---
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"
generated_at: "2026-06-14T07:23:08.125978+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Park Hotels ceases payments on $725M SF CMBS loan, expects hotel removal

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-026229
- JSON: https://secwatch.observer/filing/0000950170-23-026229.json
- Plain text: https://secwatch.observer/filing/0000950170-23-026229.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.