Q1 26 EPS
$0.45
BEAT +462.50%
Est. $0.08
Q1 26 Revenue
$622.0M
BEAT +2.40%
Est. $607.4M
vs S&P Since Q1 26
+20.4%
BEATING MARKET
PK +24.7% vs S&P +4.3%
Market Reaction
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 Str… Read more 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
PK 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, source: SEC Filings
PK Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Thomas J. Baltimore Jr., Q1 2026 Earnings Press Release
PK Earnings Trends
PK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PK EPS Trend
Earnings per share: estimate vs actual
PK Revenue Trend
Quarterly revenue: estimate vs actual
PK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.08 | $0.45 | +462.50% | $622.0M | +2.40% |
| Q4 25 BEAT FY | $0.10 | $0.51 | +427.40% | $629.0M | +1.08% |
| FY Full Year | $0.55 | $1.97 | +258.18% | $2.54B | +0.15% |
| Q3 25 BEAT | $0.04 | $0.35 | +708.31% | $610.0M | +0.05% |
| Q2 25 BEAT | $0.25 | $0.64 | +156.00% | $672.0M | +0.45% |
| Q1 25 BEAT | $0.11 | $0.46 | +318.18% | $630.0M | +2.28% |