Park Hotels & Resorts (PK)

NYSEReal EstateReit - Hotel & MotelSnapshot 2026-10-23

$16.35-1.86%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Park Hotels & Resorts’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+2.9%

+10% or more+5%0%−5%−10% or less

0.57 → 0.58 EPS · FY ending Dec 31, 2027 · 5 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 5; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	626.77M
EPS	—	0.116
Annual ending 2026-12-31
Revenue	—	2.52B
EPS	—	0.461
Annual ending 2027-12-31
Revenue	—	2.58B
EPS	—	0.585

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Increase cash from operating activities	The CEO is stable and focused on cash flow.	Broken	cash from operations falls below $80M in FY26	Cash from operations: $141M FY2026-Q2; GAAP. Published target: cash from operations >= $86M next 4 quarters. Target period is not explicitly aligned with this observation. Source published Aug 7, 2026141,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 2 quarters. Cash from operating activities rose significantly from $59 million in 2026-Q1 to $141 million in 2026-Q2, indicating improved operational cash flow. The trajectory is delivering positive progress on this priority. Delivery assessment Oct 24, 2026
Maintain dividend at $0.25 per share	It plans $0.25 dividend per share.	Intact	dividend per share falls below $0.25 in FY26	Dividend per share: $0.25 per share FY2026-Q2; GAAP. Published target: dividend per share = $0.25 next 4 quarters. Target period is not explicitly aligned with this observation. Source published Aug 7, 20260.25 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 058c9f15-4900-4480-b863-4dd8b0140708. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Management consistently declared and paid quarterly dividends of $0.25 per share in 2025 and through 2026-Q2, with the Q3 2026 dividend also declared at $0.25. The dividend policy is on track and stable. Delivery assessment Oct 24, 2026
Net income improves to positive territory	Park Hotels is improving net income from -$57M to $11M.	Intact	net income falls below $0 in FY26	Net income: $47M FY2026-Q2; GAAP. Published target: net income > $0 next 4 quarters. Target period is not explicitly aligned with this observation. Source published Aug 7, 202647,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 058c9f15-4900-4480-b863-4dd8b0140708. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Net income improved markedly from a loss of $205 million in 2025-Q4 to profits of $11 million in 2026-Q1 and $47 million in 2026-Q2. Operating income similarly rose from -$164 million to $62 million and $95 million. The trajectory shows delivering improved profitability. Delivery assessment Oct 24, 2026
Revenue near $2.5 billion	Revenue is guided near $2.5 billion in 2026.	Broken	revenue falls below $2.4B in FY26	Revenue: $680M FY2026-Q2; GAAP. Published target: revenue >= $2.5B in FY26. Target period is not explicitly aligned with this observation. Source published Aug 7, 2026680,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 058c9f15-4900-4480-b863-4dd8b0140708. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$0.58

Unavailable → $0.58 · observed estimates

FY2027 revenue$2.58B

$2.59B → $2.58B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	$2,594,196,770	4 / 15
2026-07-25	Unavailable	$2,594,196,770	4 / 15
2026-07-26	Unavailable	$2,594,196,770	4 / 15
2026-07-27	Unavailable	$2,594,196,770	4 / 15
2026-07-28	Unavailable	$2,594,196,770	4 / 15
2026-07-29	Unavailable	$2,595,067,970	4 / 14
2026-07-30	Unavailable	$2,595,067,970	4 / 14
2026-07-31	$0.57	$2,592,555,674	5 / 11
2026-08-01	$0.57	$2,592,555,674	5 / 11
2026-08-02	$0.57	$2,592,555,674	5 / 11
2026-08-03	$0.57	$2,592,555,674	5 / 11
2026-08-04	$0.57	$2,592,555,674	5 / 11
2026-08-05	Unavailable	$2,586,878,860	4 / 14
2026-08-06	$0.57	$2,592,555,674	5 / 11
2026-08-07	$0.57	$2,583,351,980	5 / 11
2026-08-08	Unavailable	$2,586,878,860	4 / 14
2026-08-09	Unavailable	$2,586,878,860	4 / 14
2026-08-10	Unavailable	$2,586,878,860	4 / 14
2026-08-12	$0.57	$2,583,351,980	5 / 11
2026-08-13	$0.57	$2,583,351,980	5 / 11
2026-08-14	$0.57	$2,583,351,980	5 / 11
2026-08-15	$0.57	$2,583,351,980	5 / 11
2026-08-16	$0.57	$2,583,351,980	5 / 11
2026-08-17	$0.57	$2,583,351,980	5 / 11
2026-08-18	$0.57	$2,583,351,980	5 / 11
2026-08-19	$0.57	$2,583,351,980	5 / 11
2026-08-20	$0.58	$2,580,820,816	5 / 11
2026-08-21	$0.58	$2,580,820,816	5 / 11
2026-08-22	$0.58	$2,580,820,816	5 / 11
2026-08-23	$0.58	$2,580,820,816	5 / 11
2026-08-24	$0.58	$2,580,820,816	5 / 11
2026-08-25	$0.58	$2,580,820,816	5 / 11
2026-08-26	$0.58	$2,580,820,816	5 / 11
2026-08-27	$0.58	$2,580,820,816	5 / 11
2026-08-28	$0.58	$2,580,820,816	5 / 11
2026-08-29	$0.58	$2,580,820,816	5 / 11
2026-08-30	$0.58	$2,580,820,816	5 / 11
2026-08-31	$0.58	$2,580,820,816	5 / 11
2026-09-01	$0.58	$2,580,820,816	5 / 11
2026-09-02	$0.58	$2,582,294,164	5 / 11
2026-09-03	$0.58	$2,582,903,546	5 / 11
2026-09-04	$0.58	$2,582,903,546	5 / 11
2026-09-05	$0.58	$2,582,903,546	5 / 11
2026-09-06	$0.58	$2,582,903,546	5 / 11
2026-09-07	$0.58	$2,582,903,546	5 / 11
2026-09-08	$0.58	$2,582,903,546	5 / 11
2026-09-09	$0.58	$2,582,903,546	5 / 11
2026-09-10	$0.58	$2,582,903,546	5 / 11
2026-09-11	$0.57	$2,583,372,504	5 / 11
2026-09-12	$0.57	$2,583,372,504	6 / 11
2026-09-13	$0.57	$2,583,372,504	6 / 11
2026-09-14	$0.57	$2,583,372,504	6 / 11
2026-09-15	$0.57	$2,576,391,468	6 / 11
2026-09-16	$0.57	$2,576,391,468	6 / 11
2026-09-17	$0.57	$2,576,391,468	6 / 11
2026-09-18	$0.57	$2,576,391,468	6 / 11
2026-09-19	$0.57	$2,576,391,468	6 / 11
2026-09-20	$0.57	$2,576,391,468	6 / 11
2026-09-21	$0.57	$2,576,391,468	6 / 11
2026-09-22	$0.57	$2,576,391,468	6 / 11
2026-09-23	$0.57	$2,576,391,468	6 / 11
2026-09-24	$0.57	$2,576,391,468	6 / 11
2026-09-25	$0.57	$2,576,391,468	6 / 11
2026-09-26	$0.57	$2,576,391,468	5 / 11
2026-09-27	$0.57	$2,576,391,468	5 / 11
2026-09-28	$0.57	$2,576,391,468	5 / 11
2026-09-29	$0.57	$2,575,692,179	5 / 11
2026-09-30	$0.57	$2,575,692,179	5 / 11
2026-10-01	$0.57	$2,575,449,427	6 / 11
2026-10-02	$0.57	$2,575,449,427	6 / 11
2026-10-03	$0.57	$2,575,449,427	6 / 11
2026-10-04	$0.57	$2,575,449,427	6 / 11
2026-10-05	$0.57	$2,575,449,427	6 / 11
2026-10-06	$0.57	$2,575,449,427	6 / 11
2026-10-07	$0.57	$2,575,449,427	6 / 11
2026-10-08	$0.57	$2,575,449,427	6 / 11
2026-10-09	$0.57	$2,575,449,427	6 / 11
2026-10-10	$0.57	$2,575,449,427	6 / 11
2026-10-11	$0.57	$2,575,449,427	6 / 11
2026-10-12	$0.57	$2,575,449,427	6 / 11
2026-10-13	$0.57	$2,575,449,427	6 / 11
2026-10-14	$0.57	$2,575,449,427	6 / 11
2026-10-15	$0.57	$2,575,449,427	6 / 11
2026-10-16	$0.58	$2,578,526,350	6 / 11
2026-10-17	$0.58	$2,578,526,350	6 / 11
2026-10-18	$0.58	$2,578,526,350	5 / 11
2026-10-19	$0.58	$2,578,526,350	5 / 11
2026-10-20	$0.58	$2,578,526,350	5 / 11
2026-10-21	$0.58	$2,578,526,350	5 / 11
2026-10-22	$0.58	$2,580,344,003	5 / 11
2026-10-23	$0.58	$2,580,344,003	5 / 11
2026-10-24	$0.58	$2,580,344,003	5 / 11

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	4	12	2
2026-06-01	5	12	2
2026-07-01	4	12	2
2026-08-01	4	12	2
2026-09-01	6	12	2
2026-10-01	6	10	2

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 10 Hold · 2 Sell / Strong Sell

1 upgrades0 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 3 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Morgan StanleyOct 12

$13.00New observation · no comparable prior

Raymond JamesSep 28

$19.00New observation · no comparable prior

$0$10.45$20.90

0 raises · 0 cuts · 0 unchanged · 2 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Increase cash from operating activitiesPublished status: Broken
Maintain dividend at $0.25 per shareDividend per share: $0.25 per share
Net income improves to positive territoryNet income: $47M
Revenue near $2.5 billionPublished status: Broken

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.1%Typical daily move · historical

Downside history

-13.4%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Park Hotels & Resorts outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

PK is a hotel real estate company with a portfolio-improvement story, rather than a clear turnaround or a proven durable compounder. The long-term thesis is on watch: management is advancing hotel sales and renovations, while recent financial performance remains weak relative to its industry cohort.

What's priced into Park Hotels & Resorts

The valuation is tagged as stretched and expensive, at a 2.4-times premium versus peers. The model points to a 22% expectations gap, but confidence in that estimate is low, so the market’s assumptions are not clear-cut.

What the fundamentals likely do

Near term, recent results are weak despite an August earnings beat, and the sector backdrop is a headwind. Management is following through on non-core hotel sales, while renovation progress is mixed; the quarterly dividend has remained steady. A guidance reversal after the recent increase would add a credibility concern.

What Park Hotels & Resorts hinges on

Over the next one to three years, the thesis depends on whether hotel dispositions and core-property renovations improve portfolio quality without weakening execution. Near term, Fed rate cuts and stronger results from sector peers could support the sector backdrop, while a guidance cut would challenge confidence in management.