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

By Reuters News


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:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.10

Q3 Net Loss

$15 mln

Q3 Adjusted FFO Per Share

$0.39


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%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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