FRANCHISE DISCLOSURE DOCUMENT HILTON FRANCHISE

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FRANCHISE DISCLOSURE DOCUMENTHILTON FRANCHISE HOLDING LLCA Delaware Limited Liability Company7930 Jones Branch Drive, Suite 1100McLean, Virginia 22102703-883-1000www.hiltonworldwide.comYou will operate a Hilton Garden Inn hotel under a franchise agreement with us.The total investment necessary to begin operation of a typical 132-room Hilton Garden Inn hotel,excluding real property, is 13,045,500 to 27,123,500, including up to 243,000 that must be paidto us or our affiliates.This disclosure document summarizes certain provisions of your franchise agreement and otherinformation in plain English. Read this disclosure document and all accompanying agreementscarefully. You must receive this disclosure document at least 14 calendar days before you sign abinding agreement with, or make any payment to the franchisor or an affiliate in connection with theproposed franchise sale. Note, however, that no government agency has verified theinformation contained in this document.The terms of your contract will govern your franchise relationship. Don’t rely on the disclosuredocument alone to understand your contract. Read all of your contract carefully. Show your contractand this disclosure document to an advisor, like a lawyer or accountant.Buying a franchise is a complex investment. The information in this disclosure document can helpyou make up your mind. More information on franchising, such as “A Consumer’s Guide to Buying aFranchise,” which can help you understand how to use this disclosure document is available fromthe Federal Trade Commission. You can contact the FTC at 1-877-FTC-HELP or by writing to theFTC at 600 Pennsylvania Avenue, NW, Washington, DC 20580. You can also visit the FTC‘s homepage at www.ftc.gov for additional information. Call your state agency or visit your public library forother sources of information on franchising.There may also be laws on franchising in your state. Ask your state agencies about them.Issuance Date: March 30, 20192019 US HILTON GARDEN INN

STATE COVER PAGEYour state may have a franchise law that requires a franchisor to register or file with a state franchiseadministrator before offering or selling in your state. REGISTRATION OF A FRANCHISE BY ASTATE DOES NOT MEAN THAT THE STATE RECOMMENDS THE FRANCHISE OR HASVERIFIED THE INFORMATION IN THIS DISCLOSURE DOCUMENT.Call the state franchise administrator listed in Exhibit I for information about the franchisor, aboutother franchisors, or about franchising in your state.MANY FRANCHISE AGREEMENTS DO NOT ALLOW YOU TO RENEW UNCONDITIONALLYAFTER THE INITIAL TERM EXPIRES. YOU MAY HAVE TO SIGN A NEW AGREEMENT WITHDIFFERENT TERMS AND CONDITIONS IN ORDER TO CONTINUE TO OPERATE YOURBUSINESS. BEFORE YOU BUY, CONSIDER WHAT RIGHTS YOU HAVE TO RENEW YOURFRANCHISE, IF ANY, AND WHAT TERMS YOU MIGHT HAVE TO ACCEPT IN ORDER TORENEW.Please consider the following RISK FACTORS before you buy this franchise.1.THE FRANCHISE AGREEMENT REQUIRES YOU TO RESOLVE DISPUTES WITH US BYLITIGATION ONLY IN FAIRFAX COUNTY, VIRGINIA, UNLESS WE SUE YOU WHERE THEHOTEL IS LOCATED. IF THE COURT REJECTS THESE VENUE SELECTIONS, THENSUIT MAY BE BROUGHT IN NEW YORK, NEW YORK. OUT OF STATE LITIGATION MAYFORCE YOU TO ACCEPT A LESS FAVORABLE SETTLEMENT FOR DISPUTES. IT MAYALSO COST MORE TO SUE US IN NEW YORK OR VIRGINIA THAN IN YOUR HOMESTATE.2.THE FRANCHISE AGREEMENT STATES THAT NEW YORK LAW GOVERNS THEAGREEMENT, AND THIS LAW MAY NOT PROVIDE THE SAME PROTECTIONS ANDBENEFITS AS LOCAL LAW. YOU MAY WANT TO COMPARE THESE LAWS.3.THERE MAY BE OTHER RISKS CONCERNING THIS FRANCHISE.Effective Date: See the next page for state effective dates.2019 US HILTON GARDEN INN

Effective DatesThe following states require that the Franchise Disclosure Document be registered or filed with thestate, or be exempt from registration: California, Hawaii, Illinois, Indiana, Maryland, Michigan,Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington andWisconsin.This Franchise Disclosure Document is registered, on file or exempt from registration in the followingstates having franchise registration and disclosure laws, with the following effective ganMinnesotaNew YorkNorth DakotaRhode IslandSouth DakotaVirginiaWashingtonWisconsinIn all other states, the effective date of this Franchise Disclosure Document is the Issuance Date ofMarch 30, 2019.2019 US HILTON GARDEN INN

THE FOLLOWING APPLIES ONLY TO TRANSACTIONS GOVERNED BY THEMICHIGAN FRANCHISE INVESTMENT LAWTHE STATE OF MICHIGAN PROHIBITS CERTAIN UNFAIR PROVISIONS THAT ARESOMETIMES IN FRANCHISE DOCUMENTS. IF ANY OF THE FOLLOWING PROVISIONSARE IN THESE FRANCHISE DOCUMENTS, THE PROVISIONS ARE VOID ANDCANNOT BE ENFORCED AGAINST YOU.(a)A prohibition on the right of a franchisee to join an association of franchisees.(b)A requirement that a franchisee assent to a release, assignment, novation, waiver or estoppelwhich deprives a franchisee of rights and protections provided in this act. This shall notpreclude a franchisee, after entering into a Franchise Agreement, from settling any and allclaims.(c)A provision that permits a franchisor to terminate a franchise prior to the expiration of its termexcept for good cause. Good cause shall include the failure of the franchisee to comply withany lawful provision of the Franchise Agreement and to cure such failure after being givenwritten notice thereof and a reasonable opportunity, which in no event need be more than 30days, to cure such failure.(d)A provision that permits a franchisor to refuse to renew a franchise without fairlycompensating the franchisee by repurchase or other means for the fair market value at thetime of expiration of the franchisee's inventory, supplies, equipment, fixtures and furnishings.Personalized materials which have no value to the franchisor and inventory, supplies,equipment, fixtures and furnishings not reasonably required in the conduct of the franchisebusiness are not subject to compensation. This subsection applies only if (i) the term of thefranchise is less than 5 years and (ii) the franchisee is prohibited by the franchise or otheragreement from continuing to conduct substantially the same business under anothertrademark, service mark, trade name, logotype, advertising of other commercial symbol inthe same area subsequent to the expiration of the franchise or the franchisee does notreceive at least 6 months advance notice of Franchisor's intent not to renew the franchise.(e)A provision that permits the franchisor to refuse to renew a franchise on terms generallyavailable to other franchisees of the same class or type under similar circumstances. Thissection does not require a renewal provision.(f)A provision requiring that arbitration or litigation be conducted outside this state. This shallnot preclude the franchisee from entering into an agreement, at the time of arbitration, toconduct arbitration at a location outside this state.(g)A provision which permits a franchisor to refuse to permit a transfer of ownership of afranchise, except for good cause. This subdivision does not prevent a franchisor fromexercising a right of first refusal to purchase the franchise. Good cause shall include, but isnot limited to:(i)The failure of the proposed transferee to meet the franchisor's then-currentreasonable qualifications or standards.i2019 US HILTON GARDEN INN

(ii)The fact that the proposed transferee is a competitor of the franchisor orsubfranchisor.(iii)The unwillingness of the proposed transferee to agree in writing to comply with alllawful obligations.(iv)The failure of the franchisee or proposed transferee to pay any sums owing to thefranchisor or to cure any default in the Franchise Agreement existing at the time ofthe proposed transfer.(h)A provision that requires the franchisee to resell to the franchisor items that are not uniquelyidentified with the franchisor. This subdivision does not prohibit a provision that grants to afranchisor a right of first refusal to purchase the assets of a franchise on the same terms andconditions as a bona fide third party willing and able to purchase those assets, nor does thissubdivision prohibit a provision that grants the franchisor the right to acquire the assets of afranchise for the market or appraised value of such assets if the franchisee has breached thelawful provisions of the Franchise Agreement and has failed to cure the breach in the mannerprovided in subdivision (c).(i)A provision which permits the franchisor to directly or indirectly convey, assign, or otherwisetransfer its obligations to fulfill contractual obligations to the franchisee unless provision hasbeen made for providing the required contractual services.THE FACT THAT THERE IS A NOTICE OF THIS OFFERING ON FILE WITH THEATTORNEY GENERAL DOES NOT CONSTITUTE APPROVAL, RECOMMENDATIONOR ENDORSEMENT BY THE ATTORNEY GENERAL.ANY QUESTIONS REGARDING THIS NOTICE SHOULD BE DIRECTED TO:OFFICE OF THE ATTORNEY GENERALCONSUMER PROTECTION DIVISION, FRANCHISE SECTION525 W. OTTAWA ST.G. MENNEN WILLIAMS BUILDING, FIRST FLOORLANSING, MICHIGAN 48933517-373-7117ii2019 US HILTON GARDEN INN

TABLE OF CONTENTSItemPageITEM 1THE FRANCHISOR AND ANY PARENTS, PREDECESSORS AND AFFILIATES .1ITEM 2BUSINESS EXPERIENCE .6ITEM 3LITIGATION . 10ITEM 4BANKRUPTCY . 15ITEM 5INITIAL FEES . 15ITEM 6OTHER FEES . 18ITEM 7ESTIMATED INITIAL INVESTMENT . 29ITEM 8RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES . 34ITEM 9FRANCHISEE’S OBLIGATIONS . 37ITEM 10FINANCING . 38ITEM 11FRANCHISOR’S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING . 39ITEM 12TERRITORY . 51ITEM 13TRADEMARKS . 53ITEM 14PATENTS, COPYRIGHTS AND PROPRIETARY INFORMATION . 55ITEM 15OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISEBUSINESS . 57ITEM 16RESTRICTIONS ON WHAT THE FRANCHISEE MAY SELL . 58ITEM 17RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION . 60ITEM 18PUBLIC FIGURES . 67ITEM 19FINANCIAL PERFORMANCE REPRESENTATIONS . 67ITEM 20OUTLETS AND FRANCHISEE INFORMATION . 71ITEM 21FINANCIAL STATEMENTS . 79ITEM 22CONTRACTS . 79ITEM 23RECEIPTS . 79NOTICE OF TRADEMARK OWNERSHIPThe following trademarks used in this Disclosure Document are owned by our affiliates:Canopy Canopy by Hilton Conrad Curio DoubleTree DoubleTree by Hilton DoubleTree Suites by Hilton DoubleTree Club Hotel eforea Embassy Suites by Hilton Embassy Suites Hotels Hampton Hampton by Hilton Hampton Inn Hampton Inn by Hilton Hampton Inn & Suites Hampton Inn and Suites by Hilton Hilton Honors Hilton Hilton Garden Inn Hilton Inn iHilton Suites Hilton Supply Management Home2 Suites by Hilton Homewood Suites by Hilton LXR Motto by Hilton OnQ (formerly System 21 )Signia Hilton Tapestry Tru by Hilton Waldorf-Astoria 2019 US HILTON GARDEN INN

TABLE OF EXHIBITSExhibit AList of Franchised Hotels as of December 31, 2018Exhibit BList of Franchised Hotels Terminated, Canceled, Not Renewed or with Changes inControlling Interest During 2018Exhibit CFinancial StatementsExhibit DFranchise Agreement and AddendumExhibit D-1State Addenda to Franchise AgreementExhibit D-2Development Incentive Promissory NoteExhibit EGuaranty of Franchise AgreementExhibit FFranchise ApplicationExhibit GInformation Technology System Agreement (HITS Agreement)Exhibit HManual Table of Contents – Brand StandardsExhibit IState Administrators and Agents for Service of ProcessExhibit JState Addenda to Disclosure DocumentExhibit KLender Comfort Letter FormsExhibit LReceiptsii2019 US HILTON GARDEN INN

ITEM 1THE FRANCHISOR AND ANY PARENTS, PREDECESSORS AND AFFILIATESAbout The Franchisor, Its Parents and Its PredecessorTo simplify the language in this Disclosure Document, “we” or “us” means Hilton Franchise HoldingLLC, the Franchisor. "You" means the person(s) who signs the franchise agreement – theFranchisee. If you are a business entity, "you" means both the business entity and its owners. The“Brand” refers to the name or names under which we will license your hotel. Our agent for service ofprocess in the states whose franchise laws require us to name an agent for service is shown onExhibit I. Capitalized words not defined in this Disclosure Document have the meaning set forth inthe Franchise Agreement.We are a Delaware limited liability company, formed in September 2007. For purposes of thisfranchise offering, we do business under the name "Hilton Garden Inn". Our principal businessaddress is 7930 Jones Branch Drive, Suite 1100, McLean, Virginia 22102 USA, and our telephonenumber is 703-883-1000.We became the franchisor of Hilton Garden Inn Brand hotels for the United States of America, theDistrict of Columbia, and the Territories and Possessions of the United States (“US”) on March 30,2015.Our parent company is Hilton Domestic Operating Company Inc., a Delaware corporation formedon July 12, 2016 (“Hilton”). Hilton’s parent company is Hilton Worldwide Holdings Inc., a Delawarecorporation formed on March 18, 2010 (NYSE: HLT) (“Hilton Worldwide”). The principal businessaddress of both companies is 7930 Jones Branch Drive, Suite 1100, McLean, Virginia 22102 USA.Hilton became our parent company on January 4, 2017, as the successor to our previous parentcompany, Park Hotels & Resorts, Inc. (“Park”). Together, Hilton and Park have conducted a guestlodging business since 1946. Park was originally called Hilton Hotels Corporation ("HHC") from May29, 1946 to December 19, 2009. It changed its name to Hilton Worldwide, Inc. (“HWI”) on December20, 2009, and to Park Hotels & Resorts Inc. on June 1, 2016. On January 4, 2017, Park became anindependent company in a spin-off transaction. As a result of that spin-off, nearly all company-ownedhotels were divested with Park. For convenience, all references to “Hilton” in this DisclosureDocument include HHC, HWI, and Park during the relevant time frames for each, unless otherwisenoted.Our immediate predecessor in offering the Hilton Garden Inn Brand franchise is Hilton Garden InnsFranchise LLC, a Delaware limited liability company, formed in September 2007 (“HGIF”). HGIFoffered franchises for the Hilton Garden Inn Brand in the US from October 2007 through March 2015.HGIF’s predecessor was Hilton Inns, Inc., a Delaware corporation, incorporated in July 1962 (“HiltonInns”). Hilton Inns offered franchise for the Hilton Garden Inn Brand in the US from March 1990through September 2007.Our Other BrandsWe have been the franchisor in the US for the Canopy and Curio brand hotels since October 15,2014, the Conrad, DoubleTree, Embassy Suites, Hampton Inn/Hampton Inn & Suites, Hilton, Home2Suites, Homewood Suites, and Waldorf Astoria brand hotels since March 30, 2015, the Tru brandhotels since December 1, 2015, the Tapestry brand hotels since December 1, 2016, the LXR andthe Motto brand hotels since September 1, 2018, and the Signia Hilton brand hotels since March 30,2019, each currently with “Collection” and/or “by Hilton” in their brand names as applicable. We offer12019 US HILTON GARDEN INN

each of these brands under a separate disclosure document. We also offer eforea spa franchisesin the US to franchisees of Tapestry, Curio, DoubleTree, Embassy Suites and Hilton brand hotels,as an addendum to the hotel franchise agreement under the disclosure documents for those brands.Our predecessors in the offer of these brands in the US include the following entities for the specifiedbrands:Brand OfferedCanopyConradCurioDoubleTreeEforea SpaEmbassy SuitesHampton Inn andHampton Inn & SuitesHiltonHilton Garden InnHome2 SuitesHomewood SuitesLXRMottoSignia HiltonTapestryTruWaldorf AstoriaPredecessor Franchisor EntityNoneConrad Franchise LLCHilton Inns, Inc.Hilton WorldwideDoubletree Franchise LLCDoubletree Hotel Systems, Inc.Doubletree Franchise LLCEmbassy Suites Franchise LLCHilton Franchise LLCEmbassy Suites Franchise LLCPromus Hotels, Inc.Hampton Inns Franchise LLCPromus Hotels, Inc.Hilton Franchise LLCHilton Inns, Inc.Hilton Garden Inns FranchiseLLCHilton Inns, Inc.HLT ESP Franchise LLCHomewood Suites Franchise LLCPromus Hotels, Inc.NoneNoneNoneNoneNoneWaldorf Astoria Franchise LLCHilton Inns, Inc.Dates OfferedN/AOctober 2007 to March 2015September 2007 to October 2007July 2, 2014 to October 14, 2014October 2007 to March 2015February 1989 to October 2007December 2011 to March 2015December 2011 to March 2015December 2011 to March 2015October 2007 to March 2015March 1984 to October 2007October 2007 to March 2015March 1983 to October 2007October 2007 to March 2015July 1962 to October 2007October 2007 to March 2015March 1990 to October 2007January 2009 to March 2015October 2007 to March 2015March 1988 to October 2007N/AN/AN/AN/AN/AOctober 2007 to March 2015January 2007 to October 2007Our Affiliates and Their PredecessorsWe currently have two affiliates that offer franchises outside of the US. First, Hilton WorldwideManage Limited, a limited company formed on December 7, 2010, under the laws of England andWales (“HWML”) has offered franchises outside the US since January 1, 2018, for the brands listedbelow except in Canada, China, Russia, and a limited number of other territories. Second, HiltonWorldwide Franchising LP, a limited partnership formed on March 12, 2014, under the laws ofEngland and Wales (“HWF”) offered franchises outside the US for the brands listed below fromJuly 1, 2014 to December 31, 2017, and currently continues to offer franchises for these brands inCanada, China, Russia, and a limited number of other territories.The brands offered by HWML and HWF are: Conrad, Curio Collection by Hilton, DoubleTree byHilton, DoubleTree Suites by Hilton, Embassy Suites by Hilton, Hampton by Hilton, Hilton, HiltonGarden Inn, Home2 Suites by Hilton, Homewood Suites by Hilton and Waldorf Astoria, Canopy byHilton (since first offered on October 15, 2014), Tru by Hilton (since first offered on June 30, 2016),Tapestry Collection by Hilton (since first offered on December 1, 2016), LXR (since first offered onJuly 1, 2018), and Motto and Signia Hilton (may be offered beginning in 2019).22019 US HILTON GARDEN INN

HWML and HWF have the same principal business address at Maple Court, Central Park, ReedsCrescent, Watford, Hertfordshire WD24 4QQ UK, and telephone number 44 207 856 8000.HWF’s predecessors for the offer of franchises outside the US before July 1, 2014, include thefollowing entities at various times for the specified brands:Brand OfferedCanopyConradConrad InternationalCurioDoubleTreeDoubleTree SuitesEmbassy SuitesHamptonHiltonHilton Garden InnHome2 SuitesHomewood SuitesLXRMottoSignia HiltonTapestryTruWaldorf AstoriaThe Waldorf Astoria CollectionPredecessor International Franchisor EntityNoneHLT International Conrad Franchise LLCHilton International Franchisor CorporationHPP International Corporation(f/k/a Conrad International Corporation)NoneHilton Group plc and designated subsidiariesHilton International Franchisor CorporationDoubletree Hotel Systems, Inc.Doubletree International Franchise LLCPromus Hotels, Inc.Hilton Group plc and designated subsidiariesHilton International Franchisor CorporationEmbassy Suites International Franchise LLCHilton International Franchisor CorporationHampton Inns International Franchise LLCHilton Group plc and designated subsidiariesHilton International Franchisor CorporationHilton International Franchise LLCHilton Group plc and designated subsidiariesHilton International Franchisor CorporationHilton Garden Inns International Franchise LLCHLT ESP International Franchisor CorporationHilton Group plc and designated subsidiariesHomewood Suites International Franchise LLCNoneNoneNoneNoneNoneHilton International Franchisor CorporationHLT International Waldorf Astoria Franchise LLCThe following wholly owned subsidiaries of Hilton provide products or services to our franchisees:1.Hilton Reservations Worldwide, L.L.C. d/b/a Hilton Reservations & Customer Care andsuccessor-in-interest to Hilton Service Corporation ("Reservations Worldwide") will provideyou with its national and international reservation services and systems ("ReservationService"). Reservations Worldwide provides the Reservation Service to all System Hotels,U.S. Hilton hotels, Conrad International hotels, and Hilton International hotels (except where32019 US HILTON GARDEN INN

prohibited by law). The principal business address of Reservations Worldwide is 2050Chennault Drive, Carrollton, Texas 75006.2.Hilton Supply Management LLC (“HSM”) distributes hotel furniture, furnishings, fixtures,equipment and supplies, and certain food and beverage supplies. You may purchase theseitems from HSM but you are not obligated to do so.3.Hilton Honors Worldwide LLC ("Hilton Honors Worldwide") owns, operates and administersthe Hilton Honors guest reward program. You must participate in the programs of HiltonHonors Worldwide.4.Hilton Systems Solutions, LLC ("HSS") provides computer hardware, software and supportservices for all Hilton’s brands and signs Hilton’s Information Technology Agreement (“HITSAgreement”).In certain situations, you may choose to have our affiliate manage your hotel under a managementagreement to be signed at the same time as, or after, you sign your Franchise Agreement.In this Disclosure Document, we may collectively refer to our former affiliated predecessor franchisorentities as the “former franchising entities.” The principal business address for each of our affiliatesis 7930 Jones Branch Drive, Suite 1100, McLean, Virginia 22102 unless otherwise noted.Our LicensesThis Disclosure Document described our franchise license for hotels that will operate in the US underthe Hilton Garden Inn Brand. HWML and HWF offer franchise licenses for hotels that will operateoutside the US under the Hilton Garden Inn Brand, under separate disclosure documents.We license the Hilton Garden Inn System (“System”). The System consists of the elements, includingknow-how, that we periodically designate to identify hotels operating worldwide under the Brand andcurrently includes the Marks; access to the Reservation Service; advertising, publicity and othermarketing programs and materials; training programs and materials; standards, specifications andpolicies for construction, furnishing, operation, appearance and service of the hotel; and otherelements we refer to in the Franchise Agreement, in the Manual or in other communications to you;and programs for our inspecting the hotel and consulting with you. We may add elements to theSystem or modify, alter or delete elements of the System.We franchise the non-exclusive right to use the System in the operation of your hotel, at a specifiedlocation, under the Hilton Garden Inn Brand. You must follow the high standards we have establishedas the essence of the System and you may be required to make future investments. A Hilton GardenInn hotel is generally 2 to 6 stories, with 80-300 rooms, featuring a unique pavilion structure providinga "living room" type lobby. Each Hotel has an exercise room, Guest Facing Workstations/BusinessCenter, self-service laundry and parking, and the Pavilion Pantry offering food and other sundries.It features mid-priced, well-appointed guest rooms with a business-oriented work area. The guestroom amenities include complimentary Guest Internet Access, remote printing, a large work desk,an ergonomic chair, an adjustable desk lamp, a telephone with data ports, desk-height electricaloutlets, a sitting area, television, and a hospitality center with a coffee maker, microwave oven, andrefrigerator.The Franchise Agreement you sign will provide for new development, change of ownership relicensing, or conversion, depending on your situation. These situations are referred to in thisDisclosure Document as "New Development," "Change of Ownership," “Re-licensing,” and42019 US HILTON GARDEN INN

"Conversion," respectively. Adaptive Reuse is also a category shown on the Franchise Application.It is a form of Conversion.Except for the licenses described above, we, our parents, affiliates and predecessors have notoffered licenses or franchises for this or any other type of business.The Market and CompetitionThe market for your services will depend on your property's location, size and its type of operation.Franchisees seek customers and business referrals from the local community and typically solicitbusiness from conventions, and tour and travel groups, on a regional and national level.In general, you will compete with national hotel and motel chains and independently operated localhotels and restaurants offering similar types of hotel rooms and food and beverage services to thesame clientele.Specifically, you will compete with other national and regional hotel chains and local facilities offeringmid-priced accommodations. Since a Hilton Garden Inn hotel contains limited meeting facilities, itdoes not compete with other hotels for convention trade. Due to its focused food and beverageoperations, a Hilton Garden Inn hotel is not likely to compete directly with local establishments forthe food and beverage business of the general public.We and our affiliates engage in a wide range of business activities in lodging and related services,both directly and through the activities of our and their parents and affiliates. Some of these activitiesmay be competitive with your Hotel and the System. We and/or our affiliates may own, operate,franchise, license, acquire, create or establish, or serve as franchisee or franchisee for, competitiveguest lodging facilities or networks anywhere, including within your Restricted Area, if any, underany brands or Marks (but not, within your Restricted Area, if any, under the Hilton Garden Inn Brand).We and/or our affiliates may also furnish services, products, advice and support to guest lodgingfacilities, networks, properties or concepts located anywhere, including within your Restricted Area,if any, in any manner that we or our affiliates determine. We and/or any of our affiliates may be soldto or otherwise acquired by an existing competitor or newly formed entity which itself has establishedor may establish competitive guest lodging facilities located anywhere (provided that your RestrictedArea protections, if any, will be observed). Further, we and/or our affiliates may purchase, merge,acquire, or affiliate in any other way with any franchised or non-franchised network or chain of guestlodging facilities or any other business operating guest lodging facilities regardless of the location ofthat network, chain or other business’s facilities, including within your Restricted Area, if any, andthat following such activity we may operate, franchise or license those other facilities under anybrands or Marks anywhere regardless of the location of those businesses and/or facilities. There isno mechanism for resolving any conflicts that may arise between your hotel and other hotelsdescribed in this paragraph.Laws, Rules and RegulationsYour hotel business must conform to innkeeper liability laws, laws and regulations regarding foodhandling and preparation, truth in menu and labeling laws, alcoholic beverage control laws anddramshop acts, license, certificate and permit requirements for hotel and restaurant operation andoccupancy, laws regulating the posting of hotel room rates, hotel room occupancy tax laws, and lawsapplicable to public accommodations and services such as the Americans with Disabilities Act(“ADA”). In addition, the laws, rules and regulations which apply to businesses in general will affectyou. Consult your lawyer about them. Discuss with your architect the Americans with Disabilities Actand state and local accessible facilities requirements.52019 US HILTON GARDEN INN

ITEM 2BUSINESS EXPERIENCEChief Executive Officer and President: Christopher J. NassettaMr. Nassetta has served as Chief Executive Officer and President of Hilton Worl

DoubleTree Club Hotel Hilton Signia Hilton eforea Hilton Garden Inn Tapestry Embassy Suites by Hilton Hilton Inn Tru by Hilton Embassy Suites Hotels Waldorf-Astoria ii 2019 US HILTON GARDEN INN. TABLE OF EXHIBITS. Exhibit A List of

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