Park Hotels & Resorts Inc. company profile

Overview

Park Hotels & Resorts Inc. is a publicly traded lodging real estate investment trust (REIT) that owns premium-branded hotels and resorts. It leases substantially all of its hotels to taxable REIT subsidiary lessees, which contract with independent third-party managers to operate them.[1][2] The portfolio is weighted toward upper-upscale and luxury properties, with revenue mainly from rooms, food and beverage, and ancillary hotel services.[3][4]

Park’s properties are concentrated in prime U.S. markets, with a property in Puerto Rico. Its 2025 annual report described 34 hotels and resorts with approximately 23,000 rooms.[1] For the year ended December 31, 2025, Park reported total revenue of $2.541 billion.[5] The company reported 90 employees at year-end 2025; hotel operations are conducted by third-party managers.[6] Park states its objective is to be a leading lodging REIT and deliver superior risk-adjusted stockholder returns through active asset management and thoughtful external growth while maintaining a strong, flexible balance sheet.[7] It became an independent publicly traded company after its spin-off from Hilton on January 3, 2017.[8] [1]

Products & services

Park Hotels & Resorts’ hotel products include guest rooms and resort accommodations across premium-branded hotels, including Hilton Hotels & Resorts, Curio Collection, Hyatt Regency, Signia by Hilton, DoubleTree by Hilton, Waldorf Astoria, Marriott Tribute Portfolio and JW Marriott. Its 2026 second-quarter filing describes 30 hotel and resort interests with more than 21,000 rooms; more than 96% of rooms in its Core portfolio are in luxury or upper-upscale hotels. Examples include Hilton Hawaiian Village Waikiki Beach Resort, Signia by Hilton Orlando Bonnet Creek, Waldorf Astoria Orlando, New York Hilton Midtown and Hilton Chicago.[9][10] Hilton Hawaiian Village offers 150,000 square feet of meeting space.[11]

Hotel services and sales include room rentals, food and beverage, and ancillary hotel goods and services; other revenue primarily relates to support services for Hilton Grand Vacations. In the first half of 2026, reported revenue comprised $757 million from rooms, $370 million from food and beverage, $127 million from ancillary hotel revenue and $48 million from other revenue, out of $1.302 billion total—approximately 58%, 28%, 10% and 4%, respectively, calculated from reported amounts.[12] Resort amenities and services include meeting and event facilities, guestrooms, golf and other recreational amenities; projects at the Bonnet Creek complex included expansion of meeting space and renovation of guestrooms, existing meeting areas, lobbies and recreational facilities.[4] [9]

Geographic presence

Park Hotels & Resorts reported interests in 30 hotels with more than 21,000 rooms as of June 30, 2026, located in the United States and its territories. Its portfolio includes major urban and convention markets such as New York City, Washington, D.C., Chicago, Boston, New Orleans and Denver, as well as leisure destinations including Hawaii, Orlando, Key West and Miami Beach. The 2025 portfolio schedule lists consolidated hotels in California, Colorado, Florida, Hawaii, Illinois, Louisiana, Massachusetts, New York, Virginia and Puerto Rico; it does not identify hotel locations in foreign countries.[9][12]

The principal executive office is in Tysons, Virginia. The company reported 90 employees at December 31, 2025, but did not provide their geographic distribution; hotel managers generally employ and maintain hotel workforces. Operating results are presented by Core and Non-Core hotel segments rather than by geographic region, and no geographic revenue percentages are provided.[13] [9]

Business segments

Park Hotels & Resorts reports Core Hotels and Non-Core Hotels as its two reportable segments; unconsolidated hotels are separately identified among its operating segments. Core Hotels comprise the strategic portfolio, primarily serving group and leisure demand. Non-Core Hotels are consolidated properties designated for disposition following the company’s portfolio strategy shift in late 2025. As of June 30, 2026, the portfolios included 20 consolidated Core hotels and 10 consolidated Non-Core hotels.[18][19]

For FY2025, Core generated approximately 82% of segment revenues ($2.006 billion of $2.449 billion), while Non-Core contributed approximately 18% ($443 million). By Hotel Adjusted EBITDA, Core contributed about 91% ($586 million of $644 million) and Non-Core about 9% ($58 million). These percentages use reported segment totals and exclude other revenues from the revenue denominator.[20] [18]

Company history

Hilton Worldwide announced in February 2016 that it would separate its hotel real-estate business into Park Hotels & Resorts. The spin-off took effect on January 3, 2017, making Park an independent public company; its shares began regular-way trading on the New York Stock Exchange the following day. The portfolio included 67 Hilton-affiliated hotels and resorts.[21]

In 2018, Park began selling non-core properties, including seven hotels in the United Kingdom. In September 2019, it completed the approximately $2.5 billion acquisition of Chesapeake Lodging Trust, adding 18 assets and broadening its portfolio.[26]

The COVID-19 pandemic led Park to temporarily suspend operations at many hotels in 2020, defer planned capital spending and suspend its dividend after the first-quarter payment. In the following years, the company continued to streamline its portfolio; by its fifth anniversary it reported having sold or disposed of 31 assets for $1.7 billion. The San Francisco Hilton Union Square and Parc 55 hotels left Park’s economic portfolio after a receiver took control in 2023 and sold them in November 2025.[30] [21]

Continue your research

From company context to financial detail.

Explore original sources and worldwide fundamental financial data and intelligence with Finbar.

Explore Park Hotels & Resorts Inc. in Finbar ↗

Park Hotels & Resorts Inc.