Dear Stakeholders,
Park Hotels & Resorts Inc. (“Park” or the “Company”) is pleased to present our ninth annual Corporate Responsibility Report (“Report”), which highlights our 2025 initiatives. We are proud of Park’s progress over the past year as we continue to advance environmental stewardship, social impact, sound governance and responsible risk and resiliency practices.
We continue to align our corporate responsibility strategy with our strategic focus on our core portfolio of hotels through responsible investments in our core portfolio. We seek to make our buildings more resilient to the effects of climate change, improve efficiencies through proactive environmental management and technological advancement and protect the habitats and communities in which our hotels are located. We also seek to invest in our human capital through varied and comprehensive training opportunities, competitive benefits and inclusionary practices.
Park’s proactive risk mitigation and resiliency efforts continue to benefit the financial performance of our portfolio by helping to mitigate potential lost revenues and costly repairs from severe and extreme weather events. As part of Park’s robust risk management program, coastal properties annually review and practice customized hurricane preparedness plans, including Tiger Dam and flood gate deployments, coordination with local jurisdictions and practice walk-throughs with first responder company personnel, Park representatives and hotel associates. By implementing targeted risk and resiliency investments, such as the installation of additional manual transfer switches at our Casa Marina resort in 2025, we continue to remove risk and potential financial impact from our assets. Since 2019, Park’s proactive risk mitigation practices have removed $2.8 billion of risk from our portfolio.
Through Park’s Green Park program, we strategically focus on efficiency enhancements that are intended to make our portfolio more profitable over time while simultaneously reducing our carbon footprint. During 2025, we completed in-depth retro-commissioning analyses at three core hotels, bringing our total retro-commissioning studies to 11 properties. In Hawaii, projects generated by the retro-commissioning recommendations at the 2,886-room Hilton Hawaiian Village contributed to a 7% reduction in energy intensity per square foot and a 4% reduction in water intensity per occupied room in 2025 over the prior year. During 2025, we also advanced Park’s renewable energy strategy by starting our first solar project at Hilton Waikoloa Village in Hawaii, of which Phase I is now fully operational and Phase II construction is underway as of the date of this report. Finally, we incorporate sustainable design and operating practices into major renovations, using these opportunities to upgrade equipment and deploy more efficient technologies. In 2025, we obtained our first hotel LEED certification at Tapa Tower at Hilton Hawaiian Village. So far in 2026, we have certified the 822-room Rainbow Tower at Hilton Hawaiian Village and the 414-room Palace Tower at Hilton Waikoloa Village, with both hotels earning LEED Silver certifications. We expect additional properties to achieve LEED certifications by the end of 2026.
We continued to advance our environmental reduction efforts during 2025. We reduced greenhouse gas emissions intensity by 10.2% from 2024 and 20.0% from our 2019 baseline, driven by our efforts to increase the amount of purchased electricity that is sourced from renewable energy. 2025 energy intensity decreased 1.3% year-over-year and 10.1% from the 2019 baseline, and water intensity decreased 1.8% versus 2024 and remained essentially flat to the 2019 baseline. Overall waste intensity, which includes diverted waste from recycling, increased 3% from 2024 due to the availability of additional data as we continue to improve our waste data collection methodology, and we achieved a waste diversion rate of 18% across our portfolio. Through our Green Park program, we continue to work with our hotels and operating partners to explore opportunities to increase recycling in our hotels.
Turning to human capital matters, we believe supporting and investing in our associates is essential. During 2025, we remained focused on associate well-being, offering a variety of resources to support our associates’ mental and physical health. We also continue to offer best-in-class medical benefits to our associates and their families. Additionally, in 2025, we introduced Park’s Peer Mentoring Program in direct response to associates’ desire for mentorship and ongoing professional development. The program is a collaborative learning experience where colleagues at similar levels learn from one another through structured discussions, knowledge sharing and skill-building opportunities. We continue to be guided by the belief that investing in and being committed to our associates will serve to strengthen us all, and we strive to create an environment where all Park associates feel valued.
I am deeply grateful for the continued efforts of our associates and the support of our stakeholders and partners as we seek to advance our corporate responsibility efforts throughout our business. We look forward to sharing our continued improvements with you.
Thomas J. Baltimore, Jr.
Chairman, President and Chief Executive Officer
October 2026
