Park Hotels & Resorts is a lodging real estate investment trust with a portfolio of hotels and resorts. Co.'s portfolio includes hotels in primary urban and convention areas, such as New York City, Washington, D.C., Chicago, San Francisco, Boston, New Orleans and Denver; resorts in key leisure destinations, including Hawaii, Orlando, Key West and Miami Beach; and hotels adjacent to primary gateway airports, such as Los Angeles International, Boston Logan International and Miami International, as well as hotels in select suburban locations. Co. operates its business through the followings operating segments: consolidated hotels and unconsolidated hotels.