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Park Hotels & Resorts (PK)
NYSE:PK
Earnings Data
Report Date
May 04, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.01Last Year’s EPS
-0.29Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The earnings call conveyed solid operational progress and strategic execution—core assets outperformed, margins in the core expanded, large capital reinvestment programs are underway with expected attractive returns, and liquidity and capital-allocation priorities are clearly articulated. Near-term challenges include renovation-related disruption (notably Royal Palm and tower renovations), a full-year RevPAR decline in 2025, non-core portfolio underperformance and timing uncertainty around remaining dispositions, and material refinancing/maturity obligations in 2026 that raise short-term execution risk. Management's guidance is deliberately conservative, highlighting potential upside if asset reopenings and dispositions materialize on schedule. On balance, the call emphasized strong execution and a constructive multi-year outlook while acknowledging near-term headwinds and refinancing tasks.Company Guidance
Strong disposal track record and recycling capital
Sold or disposed of 51 hotels for over $3,000,000,000 over the past nine years; executed more than $120,000,000 in non-core sales in 2025 at a blended multiple of 21x; closed sale of Hilton Checkers for ~ $13,000,000 (~17x 2025 EBITDA).
Core portfolio outperformance
Core portfolio RevPAR grew 3.2% in Q4 (5.7% excluding Royal Palm) and outperformed non-core by ~1,500 basis points in Q4 and by an average of ~480 basis points for 2025, validating the strategy to concentrate on 21 core hotels.
Core operating profit and margin expansion
Core hotel Adjusted EBITDA rose 13% (≈$18,000,000) year-over-year for the quarter and core hotel Adjusted EBITDA margin expanded 230 basis points to 30% in Q4.
Meaningful portfolio yield improvements from prior dispositions
Sales since 2023 (13 hotels) increased portfolio-wide nominal RevPAR by nearly 8% and hotel Adjusted EBITDA margins by over 275 basis points, demonstrating value creation from recycling non-core assets.
Large redevelopment and renovation program underway
Launched $108,000,000 Royal Palm redevelopment; invested nearly $300,000,000 in CapEx across the portfolio in 2025 (≈$110,000,000 in Q4); announced ~$96,000,000 Ali'i Tower renovation at Hilton Hawaiian Village and other significant Hawaii/New Orleans upgrades.
Specific asset operational highlights
Hilton Hawaiian Village delivered 22% RevPAR growth in Q4 (benefitting from easier comps); Bonnet Creek complex generated record Q4 RevPAR up nearly 9% with group revenue +15%; Waldorf Astoria Bonnet Creek named #1 hotel in Orlando; New York delivered its highest fourth quarter group revenue in hotel history (up >8% YoY).
Strong liquidity and balance sheet planning
Year-end liquidity ~ $2,000,000,000 (including $200,000,000 cash, $1,000,000,000 revolver capacity, $800,000,000 undrawn delayed-draw term loan); clear plan to draw term loan and mortgage financings to address 2026 maturities.
Prudent and positive 2026 guidance
Full-year 2026 guidance: RevPAR growth flat to +2%; expense growth low single digits; Adjusted EBITDA $580,000,000–$610,000,000; Adjusted FFO per share $1.73–$1.89. Management emphasized cautious assumptions and upside potential.
Shareholder returns and capital allocation track record
Returned $245,000,000 in 2025 (dividends $200,000,000, share repurchases $45,000,000); three-year total returned $1,300,000,000 and repurchased over 12% of shares; declared Q1 dividend $0.25/share (~>8.5% annual yield at current trading levels).
Royal Palm projected post-renovation earnings upside
Royal Palm forecasted to more than double EBITDA from $14,000,000 to nearly $28,000,000 at stabilization; management expects ~ $3,000,000–$4,000,000 of hotel Adjusted EBITDA in 2026 as it ramps.
PK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $11.42 | $11.25 | -1.49% |
Oct 30, 2025 | $10.73 | $10.29 | -4.10% |
Jul 31, 2025 | $10.43 | $10.02 | -3.94% |
May 05, 2025 | $9.80 | $9.69 | -1.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Park Hotels & Resorts (PK) report earnings?
Park Hotels & Resorts (PK) is schdueled to report earning on May 04, 2026, After Close (Confirmed).
What is Park Hotels & Resorts (PK) earnings time?
Park Hotels & Resorts (PK) earnings time is at May 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PK EPS forecast?
PK EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.