Companies /Real Estate

Park Hotels & Resorts Inc

NYSE: PK Reit - Hotel & Motel
$15.05
▼ $0.21 (−1.35%) today
Markets open · 3:55pm ET

Q1 2026 Earnings

Reported Apr 30, 2026, 4:20pm ET · SEC source
$0.45
Beat +462.50%
EPS · est. $0.08
$622.0M
Beat +2.40%
Revenue · est. $607.4M
+14.5%
Beating market
PK vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−1%0+1%+2%Apr 30May 1report 4:20pm ETearnings+0.2%−1.2%
−1%0+1%+2%Apr 30May 1earnings+0.2%−1.2%
PK −1.2%S&P 500 +0.2%
−1%0+1%+2%Apr 30May 1report 4:20pm ETearnings+0.9%−1.2%
−1%0+1%+2%Apr 30May 1earnings+0.9%−1.2%
PK −1.2%NASDAQ +0.9%
−6%−3%0+3%Apr 29May 8report 4:20pm ETearnings+2.5%−3.6%
−6%−3%0+3%Apr 29May 8earnings+2.5%−3.6%
PK −3.6%S&P 500 +2.5%
−4%0+4%Apr 29May 8report 4:20pm ETearnings+6.4%−3.6%
−4%0+4%Apr 29May 8earnings+6.4%−3.6%
PK −3.6%NASDAQ +6.4%
−1.05%
Day of report
−2.73%
Next session
−0.26%
One week
+19.12%
30 days

S&P 500 over the same 30 days: +4.66%.

Did PK Beat Earnings? Q1 2026 Results

Park Hotels & Resorts delivered a emphatic earnings beat in the first quarter of 2026, posting adjusted EPS of $0.45 against a consensus estimate of just $0.08, a 462.50% beat that marked the company's fourth consecutive quarter of exceeding Wall Street's EPS expectations. Revenue came in at $622.00 million, ahead of the $607.40 million consensus by 2.40%, though it edged down 1.3% year-over-year as the ongoing Royal Palm South Beach Miami renovation weighed on top-line comparisons. The most meaningful driver of the profit swing was a dramatic reduction in impairment charges, from $70.00 million a year ago to just $5.00 million, combined with the elimination of $16.00 million in interest expense tied to the now-resolved San Francisco hotels receivership, helping net income reach $12.00 million versus a net loss of $57.00 million in Q1 2025. Operationally, strength at the Bonnet Creek complex in Orlando, where combined RevPAR rose approximately 16%, anchored the resort portfolio. Looking ahead, Park lifted its full-year Adjusted EBITDA guidance to $587.00 million-$617.00 million, though management flagged that potential tariff impacts and shifts in international travel patterns remain outside the forecast.

Key Takeaways
  • Bonnet Creek complex RevPAR increased approximately 16% with group revenues up nearly 19% following transformative renovation
  • Resort hotels drove portfolio performance with strong group and transient demand
  • JW Marriott San Francisco Union Square RevPAR increased over 27% with group and transient revenues each up approximately 25%
  • Caribe Hilton benefited from nearly 95% increase in group revenues driving 12% RevPAR growth
  • Key West properties combined RevPAR increased approximately 9% on strong transient demand
  • Hilton Santa Barbara Beachfront Resort RevPAR increased nearly 23%
  • Hotel operating expenses limited to approximately 2.5% growth, within the lower end of full-year range
  • Royal Palm suspension impacted Core RevPAR by over 390 basis points
  • Super Bowl comp at Hilton New Orleans Riverside impacted Core RevPAR by nearly 170 basis points
  • Severe storms at Hilton Hawaiian Village impacted combined Hawaii RevPAR by 340 basis points

“I am very pleased with our first quarter results, with Core RevPAR increasing over 5% year-over-year excluding the Royal Palm, driven by continued strength at our resort hotels. At the Bonnet Creek complex in Orlando, combined RevPAR increased approximately 16% as group revenues increased nearly 19%, further demonstrating the continued benefits from our transformative renovation and meeting space expansion.”

Park Hotels & Resorts CEO, on the earnings call

Forward Guidance & Outlook

Park raised its full-year 2026 outlook. Comparable RevPAR is now expected at $192–$196, up from $190–$194 (0.5%–2.5% growth vs. 2025). Net income is guided at $66M–$96M, Adjusted EBITDA at $587M–$617M (up from $580M–$610M), diluted EPS at $0.29–$0.44, and Adjusted FFO per diluted share at $1.74–$1.90. The outlook includes approximately $13M of incremental interest expense from refinancing $1.4B of maturing mortgage debt, hotel operating expense growth of 2.4%–3.4%, and a 30 basis point headwind from the Royal Palm renovation. The outlook does not include assumptions for tariff impacts, changes in international travel patterns, or government shutdowns.

PK YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$200.0M$400.0M$600.0M$630.0M$622.0MRevenue$7.0M$62.0MOperating Income$5.4M$12.0MNet Income
$0$200.0M$400.0M$600.0MRevenueOperating IncomeNet Income

PK Revenue by Segment

Core Hotels (20 Hotels)$510.0M+1.7%
Rooms
Food and Beverage
Hilton Hawaiian Village Waikiki Beach Resort$101.0M+4.1%
Non-Core Hotels (15 Hotels)$81.0M+2.7%
New York Hilton Midtown$54.0M+5.2%
Ancillary Hotel
Signia by Hilton Orlando Bonnet Creek$59.0M+10.3%

Figures from SEC filings and company reports. Not investment advice.