# Park Hotels & Resorts Inc. (PK)

> Source: Nexqual · https://nexqual.com/PK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Park Hotels & Resorts Inc. (PK), nexqual.com/PK" · informational, not investment advice.

**Price:** USD 16.66 (-1.94% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 16.99 · day 16.59–17.14 · 52w 9.84–17.14 · market cap $3.35B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.54B, net income -$163M (-6.4% margin), free cash flow $81.0M (SEC filings).
- Analysts: Hold (mean 2.83 on a 1–5 scale) (18 analysts), mean target USD 16.35 (range 13–20.5).
- Total return with dividends: 1Y +61.9% vs S&P 500 +14.9%; 5Y +34.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.02, revenue estimate $603M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.36B | $2.50B | $2.70B | $2.60B | $2.54B | $2.54B |
| Operating income | -$179M | $296M | $343M | $391M | -$33.0M | $52.0M |
| Net income | -$459M | $162M | $97.0M | $212M | -$283M | -$163M |
| EPS (diluted) | -$1.95 | $0.71 | $0.44 | $1.01 | -$1.43 | — |
| Free cash flow | -$191M | $241M | $218M | $202M | $102M | $81.0M |
| Operating margin | -13.1% | 11.8% | 12.7% | 15.0% | -1.3% | 2.0% |
| Net margin | -33.7% | 6.5% | 3.6% | 8.2% | -11.1% | -6.4% |
| Revenue growth | +59.9% | +83.6% | +7.9% | -3.7% | -2.2% | — |
| Cash + short-term investments | $688M | $906M | $717M | $402M | $232M | — |
| Total debt | $4.71B | $4.64B | $3.79B | $3.87B | $3.86B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.3x · EV/EBITDA 21.5x · EV/Sales 2.8x · P/FCF 41.4x · P/B 1.1x · FCF yield 2.41% · Earnings yield -4.86% · Dividend yield (paid, TTM) 5.93% · Buyback yield (TTM) 0.00% · Net debt $3.67B · EV $7.02B
P/E at fiscal year-ends: Dec 2024 13.9x, Dec 2023 33.9x.

## Analysts
Consensus Hold (mean 2.83 on a 1–5 scale), 18 analysts; mean target USD 16.35 (low 13, high 20.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | JP Morgan | Target raised | Underweight | $14 → $16 |
| 2026-10-12 | Morgan Stanley | Target raised | Equal-Weight | $11 → $13 |
| 2026-09-28 | Raymond James | Upgrade | Market Perform → Strong Buy | $19 |
| 2026-09-10 | Truist Securities | Target raised | Hold | $13 → $17 |
| 2026-09-01 | BMO Capital | Upgrade | Market Perform → Outperform | $14 → $18 |
| 2026-08-27 | Barclays | Target raised | Equal-Weight | $12 → $14 |
| 2026-08-11 | Cantor Fitzgerald | Target raised | Neutral | $12 → $15 |
| 2026-08-10 | JP Morgan | Target raised | Underweight | $13 → $14 |
| 2026-07-28 | Evercore ISI Group | Target raised | In-Line | $15 → $16 |
| 2026-07-21 | JP Morgan | Target raised | Underweight | $11 → $13 |
| 2026-07-17 | Morgan Stanley | Target raised | Equal-Weight | $10.5 → $11 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +61.9% | +34.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +62.1% | +6.1% |
| Volatility (annualized) | 30.4% | 35.2% |
| Max drawdown | -13.4% (Feb 2026→Mar 2026) | -46.6% (Nov 2021→Sep 2022) |

## Peers (REIT - Hotel & Motel)
DRH (Diamondrock Hospitality Company) USD 13.89 -0.39% · APLE (Apple Hospitality REIT, Inc.) USD 18.16 +0.06% · SHO (Sunstone Hotel Investors, Inc. ) USD 12.6 -0.08% · PEB (Pebblebrook Hotel Trust) USD 20.67 -2.04% · XHR (Xenia Hotels & Resorts, Inc.) USD 19.5 -0.66% · RLJ (RLJ Lodging Trust) USD 12.14 -1.30%

## More
Full page: https://nexqual.com/PK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Core Hotels | $560.0M | 85.4% | +6.7% |
| Non-Core Hotels | $96.0M | 14.6% | -22.6% |
| Total revenue | $656.0M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Rooms | $401.0M | 61.1% | +0.0% |
| Food and beverage | $188.0M | 28.7% | +4.4% |
| Ancillary hotel | $67.0M | 10.2% | -1.5% |
| Other | $24.0M | 3.7% | +4.3% |
| Total revenue | $656.0M | 100% | — |
The lines above cover 103.7% of total revenue.

## Company outlook (8-K filed 2026-08-06)

- "Park is increasing its full-year 2026 outlook to reflect second-quarter outperformance and a strong start to the third quarter as demand trends continue to exceed expectations across its portfolio."
- "Park expects a modest positive impact from the 2026 World Cup of 30 basis points, in line with its prior guidance, offsetting the negative impact of 30 basis points from the renovations of the Royal Palm."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.02 | $0.04 | -52.4% | $603.0M | 3 |
| Next quarter (ends 2026-12-31) | $0.11 | $0.13 | -14.7% | $627.4M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.54 | $0.52 | +4.9% | $2.53B | 2 |
| Next fiscal year (ends 2027-12-31) | $0.58 | $0.53 | +9.4% | $2.58B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±12.5%; last 8 reports averaged ±2.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 51.3% | ±12.5% |
| 2027-01-15 | 84 | 29.2% | ±12.5% |
| 2027-04-16 | 175 | 28.0% | ±16.8% |