Park Hotels & Resorts repays $1.28 billion Hilton Hawaiian Village mortgage loan
PK•Park Hotels & Resorts repaid the $1.275 billion mortgage loan secured by Hilton Hawaiian Village Waikiki Beach Resort. It used proceeds from a $700 million Bonnet Creek mortgage financing and a $600 million term loan draw, extending weighted-average debt maturity to 3.1 years.
1. Loan repayment
Park Hotels & Resorts repaid the $1.275 billion CMBS loan secured by Hilton Hawaiian Village Waikiki Beach Resort. The loan had been scheduled to mature on Nov. 1, 2026.
2. Funding and maturities
The repayment used proceeds from a $700 million delayed-draw Bonnet Creek mortgage financing and a $600 million draw from the company’s delayed-draw term loan facility. Weighted-average debt maturity extended by about 1.5 years to 3.1 years, with less than 11% of debt maturing through 2027.
