SCHEDULE: Hill Path Capital Updates Stake in United Parks & Resorts

Hill Path Capital reports a change in its beneficial ownership percentage of United Parks & Resorts Inc. due to a reduction in the issuer's total outstanding shares.

Summary

• Hill Path Capital and its affiliates collectively beneficially own 27,279,661 shares of United Parks & Resorts Inc.
• The reported ownership represents approximately 57.9% of the company's total outstanding common stock.
• The filing reflects an increase in ownership percentage caused by a decrease in the total number of outstanding shares reported by the issuer.
• The total number of outstanding shares used for calculation is 47,135,528 as of May 4, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting a technical change in ownership percentage rather than a shift in investment sentiment or company performance.

Positives

• The reporting group maintains a significant majority stake of 57.9%, indicating strong alignment and continued commitment to the company's long-term strategy.

Negatives

• The change in ownership percentage is purely technical, resulting from a reduction in the issuer's total share count rather than new acquisitions.

Risks

• Concentration of ownership by a single investment group may limit the influence of minority shareholders.
• The company's share count reduction could impact liquidity for other investors.

Future Outlook

No specific forward-looking guidance regarding business operations was provided; the filing is strictly a disclosure of beneficial ownership changes.

Management Comments

• The reporting persons disclaim beneficial ownership of securities they do not directly own, except to the extent of their pecuniary interest.

Industry Context

StockSavvy.ai notes that significant ownership stakes by private equity or investment firms in the leisure and theme park sector often signal active involvement in corporate restructuring or strategic oversight to drive shareholder value.

Comparison to Industry Standards

• The 57.9% ownership stake is exceptionally high compared to typical institutional holdings in the leisure industry, suggesting a controlling interest rather than a passive investment.
• The use of Schedule 13D amendments to track share count fluctuations is standard practice for major shareholders in publicly traded companies.

Corporate Governance

Stakeholder Impact

• Shareholders should note the high concentration of ownership, which may influence future voting outcomes and corporate strategy.

Next Steps

• Continued monitoring of future Schedule 13D filings for any changes in the reporting group's investment intent or holdings.

Key Dates

Keywords

United Parks & Resorts, Hill Path Capital, Schedule 13D, Beneficial Ownership, Corporate Governance, Shareholder Equity