Park Hotels & Resorts, Inc. (PK)

In the past six months, Park Hotels & Resorts reported Q3 2025 earnings with revenue down 6% year-over-year to $610 million, meeting expectations, but EPS missed forecasts by 366.67%, causing a stock price drop. Management revised its full-year RevPAR and adjusted EBITDA guidance downward due to softer leisure demand. The company has been divesting non-core assets to reduce leverage, using proceeds for debt reduction, renovations, and share buybacks. In February 2026, major brokerages issued mixed ratings ahead of the upcoming Q4 and full-year 2025 results, as the company continued reshaping its portfolio and refinancing debt maturities with $2.00 billion in credit facilities.

The demand for Park Hotels & Resorts' luxury and upper-upscale hotel accommodations is subject to seasonality. Urban and convention center hotels often experience higher demand during weekdays and peak convention seasons, while resort destinations see increased demand during holiday periods and specific leisure travel seasons. The company's focus on diverse locations helps mitigate some seasonal impacts, but overall demand is influenced by economic conditions, holiday schedules, school breaks, and major events. The Q3 2025 earnings report noted "softer leisure demand," indicating that leisure travel trends directly impact the company's performance.

Park Hotels & Resorts, Inc. (PK) is a lodging REIT established in 2017 after spinning off from Hilton Worldwide Holdings Inc. Headquartered in Tysons, Virginia, the company owns and leases luxury and upper-upscale hotels and resorts. It operates in the Real Estate sector, focusing on Specialized REITs and Hotel & Motel REITs, generating revenue from room nights, food and beverage, meetings, events, and ancillary services. Its portfolio includes hotels under brands like Hilton, Waldorf Astoria, Conrad, Hyatt Regency, and Marriott.

Park Hotels & Resorts has a geographically diverse portfolio with a concentration in prime U.S. markets and territories. Over 87% of its rooms are luxury and upper upscale, located in key urban and resort destinations. The portfolio includes properties in major urban and convention areas like New York City and premier resorts in destinations like Hawaii. As of recent reports, the portfolio consists of 34 to 39 premium-branded hotels and resorts with approximately 23,000 to 25,000 rooms, with over 90% in the luxury or upper upscale segment and approximately 80% located in central business districts of major cities or resort/conference destinations. The company has divested its international properties, focusing solely on the United States.

Park Hotels & Resorts has focused on strategic asset management, including divesting non-core properties and reinvesting in high-ROI renovations to enhance asset value. The company aims to deliver exceptional guest experiences and generate superior financial returns under leading brands. However, the company's reputation and financial performance have faced challenges, including placing two San Francisco hotels into receivership in 2023 due to poor revenue projections. The company has experienced persistent negative revenue growth and declining profitability, and its stock has underperformed the US Hotel and Resort REITs industry. Despite these headwinds, the company is rated a "Buy" by some analysts, supported by solid Adjusted Funds From Operations (AFFO), conservative management, and a sustainable dividend.

Institutional investors hold a significant majority of Park Hotels & Resorts shares, ranging from 91.26% to 93.1%. Major institutional owners include The Vanguard Group, Inc., BlackRock, Inc., and Bank of America Corporation. Individual insider ownership is generally in the low single digits.