 TYSONS, Va., April 23, 2021 GLOBE NEWSWIRE -- Park Hotels Resorts Inc. NYSE: PK Park or the Company today announced that it has closed on the sale of the 97-room W New Orleans French Quarter the Hotel located in New Orleans, LA, for gross proceeds of approximately 24.1 million, or 249,000 per key. When adjusted for Parks anticipated capital expenditures capex, the sale price represents a 4.3 capitalization rate on the Hotels 2019 net operating income 5.8 excluding capex, or 17.9x the Hotels 2019 EBITDA 13.3x excluding capex. Proceeds from the sale will be used to repay debt. 