Park Hotels & Resorts (PK) Q2 2025 Earnings
How Did PK Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +3.54%.
Did PK Beat Earnings? Q2 2025 Results
Yes. Park Hotels & Resorts reported Q2 2025 earnings of $0.64 a share on Jul 31, 2025, beating the $0.25 consensus estimate by 156.0%. Revenue was $672.0M against a $669.0M estimate.
Park Hotels & Resorts delivered a sharply stronger-than-expected second quarter, with diluted Adjusted FFO per share of $0.64 far ahead of the $0.25 consensus estimate, a beat of 156.00%, even as total revenues slipped 2.0% year over year to $672.00 million, edging past the $669.02 million analyst forecast. The headline earnings outperformance came against a backdrop of real operational pressure: the company swung to a net loss of $2.00 million from net income of $67.00 million a year earlier, with a near-doubling of depreciation and amortization to $122.00 million weighing heavily on GAAP results. A 1.6% decline in Comparable RevPAR to $195.68 reflected in part the suspension of the Royal Palm South Beach Miami for a $103.00 million renovation, which alone is expected to cause roughly $17.00 million in Hotel Adjusted EBITDA disruption this year. Looking ahead, Park trimmed its full-year 2025 outlook, now projecting Adjusted FFO per diluted share of $1.82 to $2.08 and Adjusted EBITDA of $595.00 million to $645.00 million, with Comparable RevPAR expected to range from $184 to $187.
- Urban portfolio Comparable RevPAR increased 3% YoY, led by JW Marriott San Francisco Union Square (+17%) and Hilton New York Midtown (+10%)
- Waldorf Astoria Orlando RevPAR increased nearly 24% on stronger group and transient demand
- Hilton Caribe Puerto Rico RevPAR increased nearly 18% on transient demand growth
- Effective cost controls limited total expense growth to just 40 basis points
- Group revenues at Hilton Waikoloa Village increased 57% YoY
- Group revenues at Hilton New York Midtown increased over 16% YoY
“We remain laser-focused on our strategic objective of reshaping the portfolio through non-core asset dispositions, as evidenced by the successful closing on the sale of the Hyatt Centric Fisherman's Wharf for total proceeds of $80 million, representing a 64.0x multiple on 2024 EBITDA of the hotel, and with several other non-core assets in various stages of the marketing process, while reallocating and investing this capital in our iconic portfolio, like the Royal Palm hotel in Miami, which recently commenced a transformative renovation. With liquidity of approximately $1.3 billion, we remain well-positioned for long-term growth and committed to creating long-term shareholder value.”
Park Hotels & Resorts CEO, on the earnings call
What Was Park Hotels & Resorts's Outlook in Q2 2025?
For full-year 2025, Park expects Comparable RevPAR of $184 to $187 (a decline of 2.0% to flat versus 2024), or $185 to $189 excluding the Royal Palm (down 1.0% to up 1.0%). Net loss attributable to stockholders is expected at $(60) million to $(10) million, with diluted loss per share of $(0.30) to $(0.05). Operating income is projected at $212 million to $263 million. Adjusted EBITDA is forecast at $595 million to $645 million, and Adjusted FFO per diluted share at $1.82 to $2.08. Comparable Hotel Adjusted EBITDA margin is expected at 26.1% to 27.5%. Capital expenditures are projected at $310 million to $330 million. The outlook assumes 200 million fully diluted weighted average shares and excludes potential tariff impacts on U.S. travel patterns. The Royal Palm renovation is expected to cause approximately $17 million of Hotel Adjusted EBITDA disruption in 2025, with the property expected to reopen in May 2026.
PK YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $672.0M | $686.0M | −2.0% |
| Operating Income | $65.0M | $121.0M | −46.3% |
PK Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.