Park Hotels & Resorts Q2 Earnings: RevPAR +5.8%, Guidance Raised, $65M in Non-Core Sales

summarizeSummary

Park Hotels & Resorts reported Q2 2026 earnings with RevPAR up 5.8%, net income of $50M, and raised full-year guidance. The company also sold four Non-Core hotels for ~$65M and secured a $700M loan facility.

check_boxKey Events · Earnings and Guidance · PK

• Q2 RevPAR +5.8%, Net Income $50M

  Comparable RevPAR reached $216.87, a 5.8% increase year-over-year, driven by strong group and leisure demand. Net income was $50 million, a sharp turnaround from a $2 million loss in Q2 2025.

• Full-Year Guidance Raised

  Management increased the 2026 Adjusted EBITDA midpoint by $25 million to $627 million, reflecting Q2 outperformance and a strong start to Q3. Adjusted FFO per share guidance was raised to $1.90–$2.00.

• Non-Core Hotel Sales Generate $65M

  Since Q1 2026, Park sold four Non-Core hotels for gross proceeds of approximately $65 million, representing 13.7x 2025 EBITDA, including anticipated capex. These sales advance the company's portfolio optimization strategy.

• New $700M Loan Facility Secured

  In April 2026, Park entered into a $700 million delayed draw loan facility (Bonnet Creek Mortgage Loan) to address upcoming debt maturities, extending the company's maturity profile and enhancing liquidity.

auto_awesomeAnalysis · PK · Real Estate & Construction

A strong second quarter saw comparable RevPAR climb 5.8% and net income swing to a $50 million profit from a loss a year ago. Adjusted EBITDA rose 8.6% to $198 million, prompting management to raise full-year guidance by lifting the Adjusted EBITDA midpoint $25 million. Portfolio pruning continued with the sale of four Non-Core hotels for about $65 million in gross proceeds, while a new $700 million loan facility was secured to address upcoming debt maturities. The results and raised outlook signal improving demand across the portfolio, particularly in group and leisure travel, and the balance sheet moves reduce refinancing risk.