 TYSONS, Va., June 30, 2021 GLOBE NEWSWIRE -- Park Hotels Resorts Inc. Park NYSE:PK today announced that it has closed on the sale of the 210-room Hotel Indigo San Diego Gaslamp Quarter in San Diego, CA and the 204-room Courtyard Washington Capitol Hill Navy Yard in Washington, DC, for combined gross proceeds of 149 million, or approximately 360,000 per key. When adjusted for Parks anticipated capital expenditures capex, the sale price represents a 7.0 capitalization rate on 2019 net operating income 7.4 excluding capex, or 12.8x 2019 EBITDA 12.2x excluding capex. Proceeds from the sale will be used to fully repay debt currently outstanding on the Companys revolving credit facility and partially repay debt currently outstanding on its one remaining bank term loan. 