Park Hotels & Resorts Inc.

Listed Company

PKCIK 0001617406NYSELarge AcceleratedHotels & MotelsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.54B

Net Income

$-283.00M

Total Assets

$7.70B

Equity

$3.13B

Shares Out

201.40M

Op. Cash Flow

$398.00M

Business

Park Hotels & Resorts Inc. is a publicly traded lodging real estate investment trust that owns and operates a portfolio of premium-branded hotels and resorts. The company’s primary offerings include ownership, leasing and asset-management of luxury and upper-upscale hotel properties, redevelopment and renovation projects, and property-level revenue and cost optimization. Its business is organized around hotel ownership interests (fee simple, ground leases and unconsolidated joint ventures), third-party management and TRS leasing arrangements, and asset-enhancement and sustainability initiatives. Park distributes rooms and services exclusively in U.S. markets through third-party hotel managers, franchisors, centralized reservation systems and loyalty programs.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	2,541	2,599	2,698	2,501	1,362
Other property	216	231	241	223	191
Impairment and casualty loss	319	14	204	6	9
Depreciation and amortization	336	257	287	269	281
Corporate general and administrative	72	69	65	63	62
Other	88	82	83	72	49
Total expenses	2,634	2,276	2,591	2,218	1,536
Gain on sale of assets, net	2	8	15	13	−5
Gain on derecognition of assets	58	60	221	0	0
Operating (loss) income	−33	391	343	296	−179
Interest income	10	21	38	13	1
Interest expense	−209	−214	−207	−217	−228
Interest expense associated with hotels in receivership	−58	−60	−45	−30	−30
Equity in earnings from investments in affiliates	4	31	11	15	−7
Other gain (loss), net	16	−4	4	96	−7
(Loss) income before income taxes	−270	165	144	173	−450
Income tax (expense) benefit	−7	61	−38	0	−2
Net (loss) income	−277	226	106	173	−452
Net income attributable to noncontrolling interests	−6	−14	−9	−11	−7
Net (loss) income attributable to stockholders	−283	212	97	162	−459
Earnings (loss) per share - Basic (in dollars per share)	−1.43	1.02	0.44	0.71	−1.95
Earnings (loss) per share - Diluted (in dollars per share)	−1.43	1.01	0.44	0.71	−1.95
Weighted average shares outstanding - Basic (in shares)	199	207	214	228	236
Weighted average shares outstanding Diluted (in shares)	199	209	215	228	236

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-10-31	FY 2022 2022-12-31
Property and equipment, net	6,955	7,398	7,459	—	8,301
Assets held for sale, net	14	0	—	—	—
Contract asset	0	820	760	—	0
Intangibles, net	41	41	42	—	43
Cash and cash equivalents	232	402	717	—	906
Restricted cash	32	38	33	—	33
Accounts receivable, net of allowance for doubtful accounts of $2 and $4	116	131	112	—	129
Prepaid expenses	60	69	59	—	58
Other assets	80	71	40	—	47
Operating lease right-of-use assets	170	191	197	—	214
TOTAL ASSETS (variable interest entities $207 and $223)	7,700	9,161	9,419	—	9,731
Debt	3,838	3,841	3,765	—	3,892
Debt associated with hotels in receivership	0	725	725	725	725
Accrued interest associated with hotels in receivership	0	95	35	—	0
Accounts payable and accrued expenses	198	226	210	—	220
Dividends payable	56	138	355	—	56
Due to hotel managers	134	138	131	—	141
Other liabilities	189	179	200	—	172
Operating lease liabilities	209	225	223	—	234
Total liabilities (variable interest entities $198 and $201)	4,624	5,567	5,651	—	5,440
Commitments and contingencies	—	—	—	—	—
Common stock, par value $0.01 per share, 6,000,000,000 shares authorized, 200,938,658 shares issued and 199,901,086 shares outstanding as of December 31, 2025 and 203,407,320 shares issued and 202,553,194 shares outstanding as of December 31, 2024	2	2	2	—	2
Additional paid-in capital	4,031	4,063	4,156	—	4,321
Accumulated deficit	−902	−420	−344	—	16
Total stockholders equity	3,131	3,645	3,814	—	4,339
Noncontrolling interests	−55	−51	−46	—	−48
Total equity	3,076	3,594	3,768	—	4,291
TOTAL LIABILITIES AND EQUITY	7,700	9,161	9,419	—	9,731

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Impairment loss	318	12	204	6	—
Other (gain) loss, net	−14	3	−2	−90	7
Share-based compensation expense	19	19	18	17	19
Amortization of deferred financing costs	9	9	9	10	12
Distributions from unconsolidated affiliates	8	8	10	7	0
Deferred income taxes	4	−62	14	−2	−1
Accounts receivable, net	14	−19	9	−33	−70
Prepaid expenses	9	−10	−4	−23	4
Other assets	−1	1	18	32	−12
Accounts payable and accrued expenses	37	76	82	44	0
Due to hotel managers	−4	7	−10	30	23
Other liabilities	6	4	16	−4	27
Other	−2	−3	−7	1	4
Net cash provided by operating activities	398	429	503	409	−137
Capital expenditures for property and equipment	−296	−227	−285	−168	−54
Acquisitions, net	0	0	−11	0	0
Proceeds from asset dispositions, net	75	31	116	143	454
Proceeds from the sale of investments in affiliates, net	12	0	3	101	0
Reduction of restricted cash from derecognition of assets	0	0	−30	0	0
Distributions from unconsolidated affiliates	0	37	0	—	—
Contributions to unconsolidated affiliates	0	−7	−10	0	−6
Net cash used in investing activities	−209	−166	−217	87	394
Proceeds from issuance of Senior Notes	0	550	0	0	750
Repayments of Senior Debt	0	−650	0	0	—
Borrowings from credit facilities	0	200	0	50	0
Repayments of credit facilities	0	0	−50	−78	−1,193
Repayments of mortgage debt	−9	−22	−83	−64	−20
Debt issuance costs	−17	−11	−1	−11	−15
Dividends paid	−280	−512	−152	−7	0
Distributions to noncontrolling interests	−10	−7	−7	−10	−6
Tax withholdings on share-based compensation	−4	−5	−2	−3	−5
Repurchase of common stock	−45	−116	−180	−227	0
Net cash used in financing activities	−365	−573	−475	−320	−475
Net decrease in cash and cash equivalents and restricted cash	−176	−310	−189	176	−218

Filings

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