Strategic Capital Reinvestment
Park Hotels & Resorts deployed over $325 million in high ROI reinvestments across its best-performing assets, expecting returns approaching 20%. Notable projects include the Royal Palm renovation in Miami expected to double the hotel's EBITDA.
Portfolio Refinement and Asset Sales
The company is focused on divesting its remaining 15 non-core hotels to concentrate ownership across 20 high-quality assets. Recent sales include the 266-room Embassy Suites Kansas City.
Strong Market Performance in Key Locations
Certain markets like Orlando, Key West, and San Francisco showed strong performance. The Bonnet Creek complex achieved its highest third quarter RevPAR and GOP in history, with Q4 group revenue pace up 28%.
Extended and Upsized Credit Facility
Park successfully extended and upsized its corporate credit facility, increasing total liquidity to $2.1 billion, addressing 2026 debt maturities.