Park Hotels & Resorts reported mixed results for the third quarter of 2026, as headline revenue and net income were impacted by ongoing portfolio optimization and asset dispositions. However, core performance metrics showed significant strength, with Comparable RevPAR of $201.02 exceeding previous projections. The company successfully exited two additional non-core hotels during the period and reopened the Royal Palm South Beach Miami following a $110 million renovation, while management raised its full-year guidance across key metrics.
Key Highlights
- Comparable RevPAR increased 8.4% year-over-year to $201.02, driven by an 18% jump in group rooms revenue and strong higher-rated leisure demand.
- Hawaii hotels demonstrated significant outperformance, with RevPAR at Hilton Waikoloa Village rising 20% and Hilton Hawaiian Village increasing 5%, despite negative impacts from recent storms.
- Management raised its full-year 2026 Comparable RevPAR growth outlook to 5.5%–6.0%, up from the previous range of 3.0%–4.5%.
- The company strengthened its balance sheet by repaying a $1.275 billion mortgage loan secured by the Hilton Hawaiian Village using proceeds from new credit facilities.