Q1 2026 Park Hotels & Resorts Inc Earnings Call Transcript
Key Points
- Park Hotels & Resorts Inc (PK) reported better-than-expected performance in the first quarter with RevPAR increasing 5.5% year-over-year, excluding the Royal Palm South Beach Hotel.
- The company successfully executed its capital recycling strategy by selling non-core assets, including the Hilton Seattle Airport Hotel, for a total of $31 million.
- Significant progress was made on the comprehensive repositioning of the Royal Palm in Miami, with completion expected by early June.
- Core portfolio performance remained strong, with notable RevPAR growth in Bonnet Creek, Key West, and Hawaii.
- Park Hotels & Resorts Inc (PK) increased its RevPAR growth guidance by 50 basis points at the midpoint, reflecting confidence in continued demand strength.
- The Royal Palm South Beach Hotel's renovation caused a drag on first-quarter results and is expected to result in a $3 million loss for Q2.
- The transaction market remains challenging, impacting the disposition of non-core assets.
- Growing geopolitical tensions in the Middle East pose potential risks to consumer discretionary spending and business investment sentiment.
- Higher oil prices could impact both business and leisure travel, particularly affecting long-haul destinations like Hawaii.
- The company faces increased interest expenses due to refinancing activities, expected to add approximately $28 million annually.
Greetings, and welcome to the Park Hotels & Resorts first quarter 2026 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce Ian Weissman, Senior Vice President, Corporate Strategy. Please go ahead.
Thank you, operator, and welcome, everyone, to the Park Hotels & Resorts first quarter 2026 earnings call.
Before we begin, I would like to remind everyone that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed, and we are not obligated to publicly update or revise these forward-looking statements.
Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to
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