Park Hotels & Resorts (PK)
NYSE:PK
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.25Last Year’s EPS
-0.02Same Quarter Last Year
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a solid set of operating results and clear execution on strategic priorities: portfolio RevPAR and EBITDA outperformed expectations, high-return renovations delivered meaningful EBITDA upside (Bonnet Creek, Casa Marina), liquidity and refinancing actions materially reduce near-term maturity risk, and guidance was raised modestly. Offsetting risks include renovation-related drags (Royal Palm), weather disruption in Hawaii, remaining noncore assets still for sale in a challenging transaction market, and increased expense and interest cost pressures. On balance, positive operational momentum, successful capital recycling, and strengthened liquidity outweigh the near-term headwinds.Company Guidance
Portfolio RevPAR Outperformance
Reported RevPAR exceeded $191 for the quarter, up ~2% year-over-year (approximately 5.5% excluding the Royal Palm). Core portfolio RevPAR rose ~5.4% to nearly $216 excluding Royal Palm, with monthly momentum excluding Royal Palm of ~6.5% (Jan), ~3.5% (Feb), and ~6.5% (Mar).
Strong Resort and Leisure Demand
Leisure/resort RevPAR increased ~7.6% excluding Royal Palm. Notable property performance: Bonnet Creek RevPAR +~16% with hotel adjusted EBITDA +20% year-over-year; Key West (Casa Marina/The Reach) RevPAR ~+9%; Waikoloa RevPAR +6%; Hilton Santa Barbara RevPAR ~+23% (occupancy +~13 ppt, ADR +3%); Hyatt Regency Mission Bay RevPAR +12%.
Meaningful EBITDA and Revenue Results
Total hotel revenues were $591 million (up nearly 2%) and hotel adjusted EBITDA was $152 million (hotel adjusted EBITDA margin ~26%). Reported EBITDA was $143 million and adjusted FFO per share was $0.45.
Successful Capital Recycling and Dispositions
YTD noncore dispositions include the January sale of Hilton Checkers and the recent sale of 396-room Hilton Seattle Airport for $18 million, bringing year-to-date noncore asset sales to $31 million. Management highlighted a nine-year track record of selling/disposing 52 hotels for >$3 billion.
Transformative Renovations Driving Value
Royal Palm comprehensive repositioning on track for early June completion; pre-opening group pace for 2027 of $1.4 million at ~$460 avg rate (+$108 or +31% vs 2024 pre-renovation pace). Projected returns on invested capital of 15–20% with stabilized EBITDA expected to more than double from ~$14M to ~$28M (~$69k per key).
Hawaii Renovation Progress and Recovery
Completed Phase Two of Rainbow and Palace Tower renovations with Phase Two investment of ~$85M; combined RevPAR across the two resorts +2% (or ~+5.4% when adjusting for a 340 bps storm-related drag). Management expects Hawaii hotels to perform at the upper end of guidance ranges.
Improving Group Trends & Forward Pace
Portfolio group revenue increased ~5% YoY excluding Royal Palm. Group revenue growth led by double-digit gains in Puerto Rico, New York, and Bonnet Creek. Q2 group revenue pace ~+4%; full-year group pace ~+3% (excluding Royal Palm and Hilton Hawaiian Village). 2027 group pace for the core portfolio up ~5.5%.
Balance Sheet Actions and Liquidity
Reported liquidity ~ $2.0 billion (cash ~$156M plus ~$1.8B available capacity under revolver and $800M delayed draw term loan). Secured ~$700M floating-rate delayed draw mortgage on Bonnet Creek (SOFR +225 bps, upsized $50M), creating ~$1.5B of committed debt capacity to address 2026 maturities and extend weighted average debt maturity to nearly 4 years.
Guidance Raised
FY guidance raised: RevPAR growth midpoint increased by 50 bps to a new range of 0.5%–2.5%; adjusted EBITDA guidance increased midpoint by $7M to $587M–$617M; AFFO midpoint increased by $0.01 to $1.74–$1.90 per share.
Dividend Maintained
Declared and paid Q1 cash dividend of $0.25 and declared Q2 cash dividend of $0.25, implying an annualized yield of ~9% based on recent trading levels.
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 |
|---|---|---|---|
Apr 30, 2026 | $11.47 | $11.35 | -1.05% |
Feb 19, 2026 | $11.15 | $10.98 | -1.49% |
Oct 30, 2025 | $10.23 | $9.81 | -4.09% |
Jul 31, 2025 | $9.95 | $9.55 | -3.94% |
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 Aug 05, 2026, After Close (Confirmed).
What is Park Hotels & Resorts (PK) earnings time?
Park Hotels & Resorts (PK) earnings time is at Aug 05, 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 (Q2) is 0.25.