Earnings Releases·Nov 4, 2026, 4:21 PM ET

Park Hotels & Resorts Inc. — Third Quarter 2026 Earnings Summary

**Financial Performance:** Q3 2026 Comparable RevPAR rose 8.4% YoY to $201.02, while Adjusted EBITDA increased 4.0% YoY to $135 million; however, net loss widened to $(15) million from $(14) million the prior year, and operating income declined 35% YoY to $38 million.
**Guidance Revision:** The company raised full-year 2026 outlooks for Comparable RevPAR ($205–$206), Adjusted EBITDA ($635–$645 million), and Adjusted FFO per share ($2.00–$2.05), though the Net income guidance was lowered to $70–$80 million from the previous $78–$98 million range.
**Strategic Capital & Liquidity:** Management executed $1.5 billion in refinancing activity to strengthen the debt profile, exited two non-core hotels for $31 million in gross proceeds, and maintains approximately $1.3 billion in liquidity.
**Portfolio Growth & Outlook:** Strong demand drove 18% growth in group rooms revenue and significant gains in Hawaii and strategic renovation assets, with Q4 Comparable RevPAR expected to grow 5.5%–7.5% YoY despite recent storm impacts and rising operating expenses.