Park Hotels & Resorts Inc. announced the pricing for the secondary offering of 15 million shares initiated by certain Blackstone Group LP affiliates.

The price of the common stock was set at $26.15 apiece, with an expected closing date of June 7.

Park Hotels disclosed earlier that it will not receive any proceeds from the secondary offering as it did not offer any shares of common stock.

Goldman Sachs & Co. LLC serves as the offering's sole underwriter.