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Park Hotels & Resorts Inc.

PK

Park Hotels & Resorts Inc. • NYSE
$10.82 ▼ -0.09% (-0.01)
Market Cap $2.16 B
52w High $16.23
52w Low $8.27
Dividend Yield 1.00%
P/E -135.25
Volume 786.64K
Outstanding Shares 199.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $610M ▼ $102M ▼ $-16M ▼ -2.623% ▼ $-0.08 ▼ $139M ▼
Q2-2025 $672M ▲ $147M ▼ $-5M ▲ -0.744% ▲ $-0.025 ▲ $190M ▲
Q1-2025 $630M ▲ $162M ▲ $-57M ▼ -9.048% ▼ $-0.29 ▼ $130M ▲
Q4-2024 $625M ▼ $79M ▼ $66M ▲ 10.56% ▲ $0.32 ▲ $125M ▼
Q3-2024 $649M $86M $54M 8.32% $0.26 $191M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $278M ▼ $8.83B ▼ $5.504B ▲ $3.382B ▼
Q2-2025 $319M ▲ $8.87B ▼ $5.482B ▲ $3.444B ▼
Q1-2025 $233M ▼ $8.901B ▼ $5.465B ▼ $3.494B ▼
Q4-2024 $402M ▼ $9.161B ▼ $5.567B ▲ $3.645B ▼
Q3-2024 $480M $9.173B $5.466B $3.752B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2M ▲ $108M ▲ $32M ▲ $-53M ▲ $87M ▲ $65M ▲
Q1-2025 $-57M ▼ $86M ▲ $-77M ▼ $-189M ▼ $-180M ▼ $9M ▼
Q4-2024 $73M ▲ $80M ▼ $-32M ▼ $-126M ▼ $-78M ▼ $17M ▼
Q3-2024 $54M ▼ $140M ▲ $-13M ▲ $-93M ▼ $34M ▼ $97M ▲
Q2-2024 $64M $117M $-51M $8M $74M $66M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Ancillary Hotel
Ancillary Hotel
 $70.00M ▲$60.00M ▼$60.00M ▲$70.00M ▲
Food and Beverage
Food and Beverage
 $160.00M ▲$170.00M ▲$180.00M ▲$180.00M ▲
Hotel Other
Hotel Other
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Occupancy
Occupancy
 $400.00M ▲$380.00M ▼$360.00M ▼$400.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has largely stabilized after a strong rebound from the pandemic lows, but it hasn’t grown meaningfully in the most recent year and is slightly below the prior year. The more encouraging sign is that profitability has improved: operating profit and net income are higher than last year despite the softer top line. Margins have recovered significantly from the deep losses in 2020–2021, and earnings have been consistently positive for three years now. Overall, the income statement shows a business that has moved from crisis recovery into a more normal, but mature, earnings profile, with efficiency gains doing more work than pure revenue growth.

Balance Sheet

Balance Sheet The balance sheet shows a large, asset-heavy hotel portfolio funded by a substantial but slowly declining amount of debt. Total assets have edged down over time, suggesting property sales and portfolio pruning, while shareholder equity has also slipped, reflecting prior losses and distributions. Cash on hand is lower than a few years ago, meaning there is less liquidity cushion than during the immediate post‑pandemic period, but it remains meaningful. Leverage is still a key feature of the capital structure, typical for a hotel REIT, and reinforces the importance of steady cash generation and access to financing, especially in a higher interest rate environment.

Cash Flow

Cash Flow Cash flow has improved considerably from the pandemic period, with the last three years showing solid cash generated from operations and positive free cash flow after capital spending. The company is spending steadily on renovations and property improvements, but these investments are now comfortably covered by internally generated cash instead of relying on new borrowing. The slight step down in operating cash flow most recently isn’t alarming on its own, but it does highlight that the cushion is not enormous in a cyclical business. Overall, the cash flow profile now looks more stable and self-funding, but still sensitive to swings in travel demand.

Competitive Edge

Competitive Edge Park benefits from owning large, high-quality hotels and resorts in major U.S. markets that are hard to replicate. Its properties are tied to powerful brands like Hilton, Marriott, and Hyatt, giving it access to strong loyalty programs and marketing networks without having to build those capabilities itself. Scale helps with financing and with undertaking big renovations. The main trade‑offs are heavy exposure to economic and travel cycles, reliance on brand partners for day‑to‑day operations and guest experience innovation, and a focus on a segment of the market that can be more volatile in downturns. The moat is grounded in real estate quality and location, rather than in unique technology or services controlled by Park directly.

Innovation and R&D

Innovation and R&D Innovation for Park is less about traditional research and development and more about how it upgrades and manages its properties. The company’s standout initiative is its sustainability program, which emphasizes energy efficiency, water savings, and green certifications, and has already led to recognized upgrades at several flagship assets. Major renovation projects—such as those in Hawaii, Orlando, and South Beach—are the core levers for keeping properties competitive and supporting higher room rates over time. For guest-facing technology and digital innovation, Park mostly leans on its hotel brand partners rather than building its own systems. This approach keeps capital and focus on the real estate, but means that tech differentiation is largely in the hands of others.

Summary

Park Hotels & Resorts has transitioned from pandemic-era losses to consistent profitability, with better margins even as revenue growth has flattened out recently. The portfolio is being gradually reshaped, and while debt remains significant, it is trending slightly lower and backed by sizable hard assets. Cash flows are now strong enough to fund ongoing renovations and capital needs, though they still depend heavily on stable travel and convention demand. Competitively, Park’s strength lies in owning premier, difficult-to-replicate hotels tied to leading global brands, supported by a clear sustainability and renovation agenda. Future performance will hinge on how well it continues to recycle capital into higher-quality assets, navigate interest rate and economic cycles, and translate its renovation and sustainability efforts into durable, resilient earnings and cash flow.

NEWS

November 24, 2025 · 7:00 AM UTC

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November 24, 2025 · 6:30 AM UTC

Park Hotels & Resorts Inc. Announces Completion of the Sale of Hilton San Francisco Union Square and Parc 55 San Francisco – a Hilton Hotel by Court-Appointed Receiver

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November 21, 2025 · 12:35 PM UTC

Pasithea Therapeutics Announces Positive PAS-004 Tablet Pharmacokinetic (PK) Data in Ongoing Phase 1/1b Trial in Adult NF1 Patients

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October 30, 2025 · 4:10 PM UTC

Park Hotels & Resorts Inc. Reports Third Quarter 2025 Results

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September 17, 2025 · 4:15 PM UTC

Park Hotels & Resorts Inc. Completes Recast of $2 Billion Credit Facilities

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