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Park Hotels & Resorts
(NYSE:PK)
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Rating:66Neutral
Price Target:
$17.00
▲(6.72% Upside)
Action:Reiterated
Date:10/01/26
PK’s score is driven by solid cash flow and an improved balance-sheet profile alongside constructive technical momentum. Offsetting these positives are current net losses and profitability volatility (which also makes the negative P/E a valuation concern), though the latest earnings call was supportive with raised 2026 guidance despite ongoing leverage and cost headwinds.
Positive Factors
Operating momentum
Broad RevPAR gains across resorts and urban properties indicate improving demand and pricing power in Park’s premium hotel portfolio. Continued strength in Hawaii, Key West, Austin, Santa Barbara and Washington, D.C. supports revenue growth over the next several quarters.
Negative Factors
Elevated leverage
Leverage remains substantial relative to operating earnings despite a modest sequential improvement. High net debt can constrain future acquisitions, increase sensitivity to operating setbacks and leave less financial flexibility for renovations, refinancing and other capital allocation priorities.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating momentum
Broad RevPAR gains across resorts and urban properties indicate improving demand and pricing power in Park’s premium hotel portfolio. Continued strength in Hawaii, Key West, Austin, Santa Barbara and Washington, D.C. supports revenue growth over the next several quarters.
Read all positive factors
Park Hotels & Resorts Key Performance Indicators (KPIs)
Any
Revenue by Type
Breaks down revenue sources, such as room bookings and food services, revealing the diversity and stability of income streams.
Breaks down revenue sources, such as room bookings and food services, revealing the diversity and stability of income streams.
Data provided by:
The Fly
The FlyPark Hotels & Resorts (PK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.05B
Dividend Yield6.59%
Average Volume (3M)3.43M
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue Growth-1.36%
EPS Growth-405.10%
CountryUS
Employees90
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)-0.82
Shares Outstanding201,338,330
10 Day Avg. Volume3,871,576
30 Day Avg. Volume3,429,661
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.66
Price to Sales (P/S)0.82
P/FCF Ratio20.41
Enterprise Value/Market Cap2.16
Enterprise Value/Revenue2.59
Enterprise Value/Gross Profit-34.70
Enterprise Value/Ebitda17.40
Forecast
1Y Price Target
$15.90Price Target Upside-0.19% Downside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)0.46
Revenue Forecast (FY)$2.52B
Park Hotels & Resorts Business Overview & Revenue Model
Company Description
Park Hotels & Resorts Inc. operates as the second-largest publicly traded real estate investment trust (REIT) focused on the lodging sector. It manages a diversified collection of 60 premium-branded hotels and resorts, which are market leaders and...
How the Company Makes Money
Park Hotels & Resorts makes money primarily by owning hotels and receiving the economic results generated by those properties’ operations. Its key revenue streams are hotel operating revenues, which typically include: (1) Rooms revenue—income from...
Park Hotels & Resorts Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed broad operational and financial momentum: RevPAR, hotel revenues, adjusted EBITDA and margin expansion beat expectations, group demand accelerated, major redevelopments (Royal Palm, Hawaii towers) are ramping and guidance was raised. Management is actively recycling capital, simplifying the portfolio and taking targeted ROI-focused investments that have driven outsized returns in key markets (Hawaii, Orlando, Key West, Bonnet Creek). Near-term challenges include elevated leverage (net debt-to-EBITDA ~6.1x), anticipated expense inflation (3%–4%), transitional drag from Royal Palm stabilization, the Honolulu Convention Center closure through 2027, and a small set of remaining non-core/disputed assets. Overall, positive operating momentum and clearer portfolio focus outweigh the manageable near-term financial and operational headwinds.Positive Updates
Revenue Per Available Room (RevPAR) Growth
Total portfolio RevPAR increased nearly 6% to $217 in Q2 2026 and grew nearly 7% year-over-year excluding Royal Palm South Beach; resort RevPAR increased more than 9% (ex-Royal Palm) and the urban portfolio delivered nearly 4% RevPAR growth. July RevPAR was up 8.5% driven by strength in Hawaii, Key West, Austin, Santa Barbara and Washington, D.C.
Negative Updates
High Leverage Relative to EBITDA
Net debt remained elevated at approximately $3.7 billion with a net debt-to-EBITDA ratio of 6.1x, signaling leverage is still substantial despite a slight sequential improvement (~0.2x reduction).
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Per Available Room (RevPAR) Growth
Total portfolio RevPAR increased nearly 6% to $217 in Q2 2026 and grew nearly 7% year-over-year excluding Royal Palm South Beach; resort RevPAR increased more than 9% (ex-Royal Palm) and the urban portfolio delivered nearly 4% RevPAR growth. July RevPAR was up 8.5% driven by strength in Hawaii, Key West, Austin, Santa Barbara and Washington, D.C.
Read all positive updates
Company Guidance
Park raised 2026 guidance, boosting full‑year RevPAR outlook by about 225 basis points to a new range of +3.0% to +4.5% (anchored by roughly 370 bps of Q2 outperformance and July RevPAR +8.5%), with Q3 expected toward the upper end; adjusted EBITDA guidance was increased by ~ $25M at the midpoint to $617M–$637M and adjusted FFO guidance was raised by about $0.13 at the midpoint to $1.90–$2.00 per share. The updated outlook assumes expense growth of 3%–4%, incorporates an $11M benefit from Q2 property tax appeals and a 20% reduction in insurance premiums, assumes only modest back‑half earnings from the reopened Royal Palm (group ADRs +21% and transient ADRs +53% vs. pre‑renovation, with stabilization expected to add ~ $28M of EBITDA over the next few years), reflects a roughly $3.5M second‑half EBITDA reduction from recent non‑core dispositions, and contemplates full‑year CapEx of $230M–$260M.Park Hotels & Resorts Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
64
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.54B | 2.54B | 2.60B | 2.70B | 2.50B | 1.36B |
| Gross Profit | -190.00M | 50.00M | 745.00M | 746.00M | 693.00M | 227.00M |
| EBITDA | 379.00M | 333.00M | 696.00M | 683.00M | 689.00M | 89.00M |
| Net Income | -163.00M | -283.00M | 212.00M | 97.00M | 162.00M | -459.00M |
Balance Sheet | ||||||
| Total Assets | 7.70B | 7.70B | 9.16B | 9.42B | 9.73B | 9.74B |
| Cash, Cash Equivalents and Short-Term Investments | 264.00M | 232.00M | 402.00M | 717.00M | 906.00M | 688.00M |
| Total Debt | 4.10B | 4.26B | 4.79B | 4.71B | 4.85B | 4.98B |
| Total Liabilities | 4.67B | 4.62B | 5.57B | 5.65B | 5.44B | 5.34B |
| Stockholders Equity | 3.09B | 3.13B | 3.65B | 3.81B | 4.34B | 4.45B |
Cash Flow | ||||||
| Free Cash Flow | 228.00M | 102.00M | 202.00M | 218.00M | 241.00M | -191.00M |
| Operating Cash Flow | 404.00M | 398.00M | 429.00M | 503.00M | 409.00M | -137.00M |
| Investing Cash Flow | -280.00M | -209.00M | -166.00M | -217.00M | 87.00M | 394.00M |
| Financing Cash Flow | -169.00M | -365.00M | -573.00M | -475.00M | -320.00M | -475.00M |
Park Hotels & Resorts Technical Analysis
Positive
15.93
Price Trends
15.06
Positive
14.39
Positive
12.45
Positive
Market Momentum
0.06
Positive
50.84
Neutral
24.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PK, the sentiment is Positive. The current price of 15.93 is above the 20-day moving average (MA) of 15.12, above the 50-day MA of 15.06, and above the 200-day MA of 12.45, indicating a bullish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 50.84 is Neutral, neither overbought nor oversold. The STOCH value of 24.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PK.
Park Hotels & Resorts Risk Analysis
Park Hotels & Resorts disclosed 33 risk factors in its most recent earnings report. Park Hotels & Resorts reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Park Hotels & Resorts Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $15.58B | 15.47 | 15.54% | 7.34% | 4.93% | 58.04% | |
66 Neutral | $3.05B | -18.51 | -5.14% | 6.59% | -1.36% | -405.10% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $2.17B | -28.67 | -1.90% | 0.21% | 2.08% | -25.62% | |
64 Neutral | $2.13B | 46.39 | 2.76% | 3.15% | 7.28% | 945.58% | |
61 Neutral | $8.35B | 28.34 | 36.38% | 3.92% | 12.25% | -0.92% | |
60 Neutral | $1.67B | -241.98 | -0.62% | 3.09% | 1.65% | -112.43% |
* Real Estate Sector Average
PK
Park Hotels & Resorts
15.17
5.21
52.31%
SHO
Sunstone Hotel
11.44
2.79
32.18%
HST
Host Hotels & Resorts
22.74
7.68
50.98%
PEB
Pebblebrook Hotel
19.21
8.94
87.03%
RHP
Ryman
122.45
37.45
44.06%
XHR
Xenia Hotels & Resorts
18.10
5.82
47.43%
Park Hotels & Resorts Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Park Hotels & Resorts Streamlines Capital Structure via Loan Repayment
Positive
Sep 30, 2026
On September 30, 2026, Park Hotels Resorts Inc. used proceeds from a previously arranged $700 million delayed-draw Bonnet Creek mortgage financing and a $600 million draw from an unsecured delayed-draw term loan facility to fully repay the $1.275...
Business Operations and StrategyExecutive/Board Changes
Park Hotels & Resorts Announces Key Investment Leadership Change
Neutral
Sep 11, 2026
On September 11, 2026, Park Hotels Resorts announced that Executive Vice President and Chief Investment Officer Thomas C. Morey had departed the company, effective September 8, 2026. His exit is governed by a Separation Agreement signed on Septem...
Business Operations and StrategyExecutive/Board Changes
Park Hotels Grants One-Time Executive Restricted Stock Awards
Positive
Sep 10, 2026
On September 3, 2026, Park Hotels Resorts Inc.’s Compensation Human Capital Committee approved one-time restricted stock awards for key executive officers to mitigate leadership transition and recruiting risks. The grants aim to secure man...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.