Park Hotels and Resorts Reports Strong Q3 2026 Performance

Park Hotels & Resorts Inc. announced results for the third quarter ended September 30, 2026 and provided an operational update and an update on its Non-Core hotel disposition initiative.

Q3 2026 Financial Highlights
- Comparable RevPAR increased 8.4% year-over-year to $201.02.
- Core RevPAR rose 8.1% to $213.66.
- Adjusted EBITDA grew 4.0% to $135 million.
- Diluted Adjusted FFO per share increased 11.2% to $0.39.
- Reported a net loss of $15 million and diluted loss per share of $0.10.

Demand & Operating Performance
- Growth driven by strong group and leisure travel demand.
- Group rooms revenue increased more than 18% YoY.
- Hawaii properties delivered strong results:
- Hilton Waikoloa Village RevPAR up 20%
- Hilton Hawaiian Village RevPAR up 5%

Capital Investment Impact
- Casa Marina Key West and Waldorf Astoria Orlando recorded RevPAR growth of more than 17% and 16%, respectively.
- Double-digit RevPAR growth was also recorded at:
- Hilton Chicago
- Hilton Santa Barbara Beachfront Resort
- Washington, D.C. hotels
- Boston hotels

Renovations & Asset Enhancements
- Reopened Royal Palm South Beach Miami in July 2026 following a $110+ million renovation.
- Began a $100+ million renovation of the Ali’i Tower at Hilton Hawaiian Village in August 2026.
- Royal Palm renovation added new guestrooms, upgraded meeting facilities, enhanced public areas, and introduced new dining concepts.

Portfolio Transformation
- Sold two non-core hotels:
- Hilton Short Hills (314 rooms) for $12 million
- The Wade (520 rooms) for approximately $19 million
- The sales eliminated around $80 million in anticipated capital expenditure requirements.

Financial & Liquidity Update
- Repaid the $1.275 billion HHV mortgage loan ahead of maturity.
- Drew funds from existing delayed-draw loan facilities to refinance debt.
- Maintained approximately $1.3 billion in liquidity.

Dividend Announcement
- Paid a Q3 cash dividend of $0.25 per share in October 2026.
- Declared a Q4 cash dividend of $0.25 per share, payable on January 15, 2027.

Sustainability Achievements
- Achieved LEED Silver certifications for:
- Rainbow Tower, Hilton Hawaiian Village
- Palace Tower, Hilton Waikoloa Village
- Park now has three LEED-certified hotel towers following recent renovations.

Management Commentary
- Thomas J. Baltimore Jr., Chairman & CEO, said strong group and leisure demand, successful capital investments, and portfolio upgrades supported third-quarter performance.
- He noted encouraging booking trends, with preliminary October Comparable RevPAR up nearly 11% YoY, and expressed confidence in continued growth momentum through year-end.