📈 Price History

Ratio Health

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📊 Peer Medians

About

Park Hotels & Resorts inc. is one of the largest publicly traded lodging real estate investment trusts. With a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value, Park’s portfolio currently consists of 34 premium-branded hotels and resorts with approximately 23,000 rooms primarily located in prime city center and resort locations. Park Hotels & Resorts Inc. was incorporated in 1946 in Delaware and is based in Tyson, Virginia.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding PK

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	369.2K	$3.9M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used specific numbers and milestones (e.g., expense growth of ~1%, 25% insurance premium reduction, $10 million GOP savings from deep dives) and reiterated strategic progress on portfolio reshaping and core asset investments, while acknowledging near-term headwinds like softer Q3 RevPAR and Hawaii recovery.

Q3 2025

Confident Specific

management repeatedly uses terms like 'laser-focused', 'disciplined execution', 'fortifying our strong and flexible balance sheet' and provides specific metrics (e.g., 20% returns on reinvestment, $2.1B liquidity, three consecutive quarters of expense growth ≤1%), conveying confidence despite acknowledged headwinds.

Q4 2025

Mixed

Management expresses confidence in strategic progress and core portfolio outperformance, using phrases like 'meaningful progress' and 'solid 3.2% RevPAR increase,' but also repeatedly uses 'cautious,' 'conservative,' and 'uncertain' in guidance and when discussing non-core sales timing and macro risks.

Q1 2026 latest

Confident Specific

Management used language like 'pleased to report better than expected performance', 'exceeded expectations', 'increasing RevPAR guidance by 50 basis points', and 'adjusted EBITDA guidance by $7 million at the midpoint', while acknowledging 'broader macro setup remains uncertain' and 'geopolitical uncertainties'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call due to better-than-expected Q1 results, a guidance raise, and clear progress on balance sheet and portfolio transformation. Management demonstrated disciplined capital allocation and conservative guidance on uncertain factors like World Cup and geopolitical risks. The core portfolio operating metrics (Bonnet Creek, Key West, Hawaii) are performing above underwriting. However, the lingering non-core asset overhang and macro uncertainties (oil prices, travel disruptions) remain risks. Key next quarter watchpoints: Royal Palm ramp-up, non-core dispositions, and any shift in group demand due to macro conditions.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Park Hotels Q1 2026: RevPAR up 5.5% ex-Miami, adjusted EBITDA $143M

Revenue & Profitability

First quarter total hotel revenues were $591 million, up nearly 2% year-over-year. Hotel adjusted EBITDA was $152 million, resulting in a 26% margin. Adjusted EBITDA was $143 million, and adjusted FFO per share was $0.45. Core RevPAR increased 5.4% to nearly $216, excluding Royal Palm. RevPAR for the total portfolio was $191, up approximately 2% (5.5% excluding Miami).

Outlook

Management is cautiously optimistic, citing tailwinds from fiscal stimulus, deregulation, lower interest rates, easier year-over-year comparisons, and events like the World Cup and America's 250th Anniversary. However, headwinds include geopolitical tensions in the Middle East, potential impact of higher oil prices on consumer discretionary spending and business travel, and ongoing uncertainty in the macro environment.

Growth Drivers

Leisure demand at resort properties drove RevPAR growth of 7.6% (ex-Royal Palm). Orlando's Bonnet Creek delivered 16% RevPAR growth and record EBITDA exceeding $103 million trailing 12-month. Key West resorts grew RevPAR nearly 9%. Group revenue increased 5% portfolio-wide, with double-digit gains in Puerto Rico, New York, and Bonnet Creek. Hawaii is expected to perform at the upper end of guidance, aided by completed renovations and easier comparisons.

Balance Sheet & CapEx

For 2026, capital investment is planned at $230 million to $260 million. Major projects include the completion of Royal Palm South Beach transformation (approx. $112 million) and the launch of the Ali'i Tower renovation at Hilton Hawaiian Village (approx. $96 million). Renovations were also completed at Rainbow Tower and Palace Tower in Hawaii ($85 million combined) and the second phase at Hilton New Orleans Riverside ($30 million).

Margins

Hotel adjusted EBITDA margin was approximately 26% for Q1. Hotel operating expenses increased 2.6%, reflecting cost discipline. Labor and wage growth is expected around 5% for the year, partly offset by insurance premium reductions and real estate tax appeal outcomes. No specific margin guidance was provided for the full year.

Key Risks

Management highlighted geopolitical tensions in the Middle East, potential impact of higher oil prices on travel demand, and uncertain consumer discretionary spending as risks. The company also faces execution risk in selling the remaining 12 non-core assets, though the track record of past dispositions was emphasized. The Royal Palm renovation ramp-up and partial disruption from renovations in Hawaii are also noted.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-07

Second quarter results exceeded expectations, with strong RevPAR and EBITDA growth driven by group and leisure demand, especially in Hawaii, Florida, and urban markets. Capital recycling and targeted investments continue to enhance portfolio quality and future earnings potential.

Q1 2026 Q1 2026 2026-05-01

Q1 results exceeded expectations with strong RevPAR growth, driven by leisure and group demand. Guidance for RevPAR and EBITDA was raised, with continued asset sales and major renovations supporting long-term growth. Liquidity remains strong and all 2026 debt maturities are addressed.

Q4 2025 Q4 2025 2026-02-20

Core portfolio outperformed with strong RevPAR and EBITDA margin growth, driven by asset sales, major redevelopments, and disciplined capital allocation. 2026 guidance is cautious due to macro risks, but expects continued operational strength and deleveraging.

Q3 2025 Q3 2025 2025-10-31

Q3 results showed a 6% RevPAR decline and flat expense growth, with strong performance in key markets like Orlando and San Francisco. Guidance was lowered due to macro headwinds and the government shutdown, but significant liquidity and strategic reinvestment position the portfolio for long-term growth.

Q2 2025 Q2 2025 2025-08-01

Q2 results were driven by strong resort and urban market performance, disciplined cost controls, and strategic asset sales. Guidance was adjusted for near-term headwinds, but margin and earnings outlooks improved due to cost savings. Asset dispositions and major renovations continue to enhance portfolio quality.

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