Park Hotels & Resorts owns upper-upscale and luxury hotels with 29,125 rooms across 53 hotels in the United States. Park also has interests through joint ventures in another 4,297 rooms in seven U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so all of the company's hotels are still under Hilton brands. The company has sold all its international hotels and 11 lower-quality U.S. hotels to focus on high-quality assets in domestic, gateway markets. Park has used some of the proceeds to buy back shares and has $346 million available to acquire assets, pay down debt, or buy back more shares.