Park Hotels & Resorts (PK) Declares $0.45 Special Dividend, 1.5% Yield; Announces Sale of Hilton Berlin
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/14/2026
- S&P 500 notches record-high close as rate-hike worries ease
- Oil settles down 2% on weak demand outlook, hefty US crude build
- BofA lifts server CPU TAM to $210bn+ on the rise of AI agents
- Burry doubles down on Nebius short after stock surges 34% on earnings
- JPMorgan gets bullish on Salesforce, says concerns are "overblown"
Park Hotels & Resorts Inc. Announces the Sale of the Hilton Berlin and Declaration of Special Dividend
May 18, 2018 6:00 AM EDTTYSONS, Va.--(BUSINESS WIRE)-- Park Hotels & Resorts Inc. (Park) (NYSE: PK) today announced that it has closed on the sale of the 601-room Hilton Berlin (the Hotel) located in Berlin, Germany, for gross proceeds to the joint venture owners of the entities that own the Hotel of 297 million, before customary closing adjustments. The gross proceeds equate to approximately $350 million, or $583,000 per key. Parks pro rata share of gross proceeds was approximately $140 million. The sale price represents an EBITDA multiple of approximately 20x the Hotels 2017 EBITDA.
The sale of the Hotel marks... More
