Park Hotels & Resorts Q3 RevPAR rises on group and leisure demand

Overview

• U.S. lodging REIT's Q3 Comparable RevPAR rose 8.4% yr/yr, driven by group and leisure demand

• Adjusted FFO per share rose 11.2% yr/yr to $0.39 in Q3

• Company posted Q3 net loss of $15 mln, diluted loss per share of $0.10

Outlook

• Company raises full-year 2026 Comparable RevPAR outlook to $205-$206, up from $198-$201

• Company now expects full-year 2026 Adjusted EBITDA of $635 mln-$645 mln, up from $617 mln-$637 mln

Result Drivers

• GROUP DEMAND - Co said group rooms revenue increased over 18% yr/yr, supporting portfolio performance

• LEISURE TRAVEL - Higher-rated leisure travel further supported performance during the quarter

• RENOVATION IMPACT - RevPAR gains at Casa Marina Key West and Waldorf Astoria Orlando attributed to recent renovations

Company press release: ID:nBw16VJQNa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy."

• Wall Street's median 12-month price target for Park Hotels & Resorts Inc is $16.00, about 4.3% below its November 3 closing price of $16.72

• The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 34 three months ago

Reuters Recommended Reads

• Nov 3 - Summit Hotel Properties Q3 revenue beats estimates on business travel recovery, strong group demand

• Nov 3 - DiamondRock Hospitality Q3 net income, adjusted FFO rise

• Nov 3 - Xenia Hotels Q3 net loss narrows adjusted FFO per share up 56%

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)