Park Hotels & Resorts Inc. (PK) 10-Year Financial Performance & Capital Metrics

PK • • REIT / Real Estate

Real EstateHotel REITsLuxury & Upper Upscale HotelsPremium Full-Service Hotels

AboutPark is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.Show more

Revenue $2.6B -3.7%
FFO $469M +22.1%
FFO/Share 2.24 +25.6%
FFO Payout 109.17% +175.8%
FFO per Share 2.24 +25.6%
NOI Margin 28.66% +3.7%
FFO Margin 18.05% +26.8%
ROE 5.76% +139.3%
ROA 2.28% +125.2%
Debt/Assets 52.3% +4.5%
Net Debt/EBITDA 6.77 +6.8%
Book Value/Share 17.20 -1.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Share count reduced 2.8% through buybacks
✓Trading at only 0.7x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.0%
✗FFO declining 36.5% TTM
✗Dividend exceeds FFO - may not be sustainable
✗Low NOI margin of 28.7%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.34%

5Y-1.79%

3Y24.03%

TTM-3.19%

Profit (Net Income) CAGR

10Y1.88%

5Y-7.08%

3Y-

TTM-81.05%

EPS CAGR

10Y1.27%

5Y-6.85%

3Y-

TTM-81.6%

ROCE

10Y Avg2.25%

5Y Avg-0.4%

3Y Avg3.83%

Latest4.53%

Peer Comparison

Premium Full-Service Hotels

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SHOSunstone Hotel Investors, Inc.	1.74B	9.17	65.50	-8.18%	1.94%	0.93%	9.78%	0.41
PKPark Hotels & Resorts Inc.	2.3B	11.49	11.38	-3.67%	2.25%	1.71%	8.79%	1.33
AHTAshford Hospitality Trust, Inc.	29.17M	4.55	-0.26	-14.26%	-20.55%
SOHOSotherly Hotels Inc.	44.26M	2.16	-6.35	4.63%	-0.17%	-0.84%	58.49%	8.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	2.69B	2.73B	2.79B	2.74B	2.84B	852M	1.36B	2.5B	2.7B	2.6B
Revenue Growth %	0.07%	0.01%	0.02%	-0.02%	0.04%	-0.7%	0.6%	0.84%	0.08%	-0.04%
Property Operating Expenses	1.86B	1.91B	1.98B	1.92B	1.98B	1.01B	1.14B	1.81B	1.95B	1.85B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	383M	385M	419M	415M	437M	1.04B	406M	397M	403M	354M
G&A Expenses	113M	127M	123M	118M	62M	60M	62M	63M	65M	69M
EBITDA+	873M	2.71B	2.73B	2.83B	690M	-904M	102M	565M	630M	648M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	287M	2.29B	2.35B	2.32B	264M	298M	281M	269M	287M	257M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	586M	419M	371M	504M	426M	-1.2B	-179M	296M	343M	391M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	186M	181M	124M	127M	140M	213M	258M	247M	252M	274M
Interest Coverage	3.15x	2.31x	2.99x	3.97x	3.04x	-5.64x	-0.69x	1.20x	1.36x	1.43x
Non-Operating Income	-17M	17M	-38M	-123M	-65M	35M	13M	-124M	-53M	-48M
Pretax Income+	417M	221M	285M	500M	351M	-1.45B	-450M	173M	144M	165M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	118M	82M	-2.35B	23M	35M	-6M	2M	0	38M	-61M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	292M	133M	2.63B	472M	306M	-1.44B	-459M	162M	97M	212M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.66%	-0.54%	18.74%	-0.82%	-0.35%	-5.71%	0.68%	1.35%	-0.4%	1.19%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.37%	3.19%	1.05%	-0.44%	-0.8%	-3%	0.84%	3.42%	-0.11%	0.22%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.47	0.67	12.21	2.31	1.44	-6.12	-1.94	0.71	0.44	1.01
EPS Growth %	0.65%	-0.54%	17.22%	-0.81%	-0.38%	-5.25%	0.68%	1.37%	-0.38%	1.3%
EPS (Basic)	1.47	0.67	12.38	2.33	1.44	-6.12	-1.94	0.71	0.44	1.02
Diluted Shares Outstanding	198M	198M	214M	204M	213M	236M	236M	228M	215M	209M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	9.79B	9.83B	9.71B	9.36B	11.29B	10.59B	9.74B	9.73B	9.42B	9.16B
Asset Growth %	0.01%	0%	-0.01%	-0.04%	0.21%	-0.06%	-0.08%	-0%	-0.03%	-0.03%
Real Estate & Other Assets+	19M	-2.41B	18M	2M	40M	60M	69M	46M	40M	71M
PP&E (Net)	8.68B	8.54B	8.31B	7.97B	9.84B	9.42B	8.72B	8.52B	7.66B	7.59B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Total Current Assets+	319M	538M	589M	660M	720M	1.05B	894M	1.13B	1.68B	1.46B
Cash & Equivalents	72M	293M	364M	410M	346M	951M	688M	906M	717M	402M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	125M	71M	100M	97M	111M	30M	75M	33M	33M	38M
Intangible Assets	52M	44M	41M	27M	46M	45M	44M	43M	42M	41M
Total Liabilities	6.99B	6.01B	3.75B	3.78B	4.84B	5.74B	5.34B	5.44B	5.65B	5.57B
Total Debt+	4.06B	3.01B	2.96B	2.95B	4.8B	5.37B	4.98B	4.85B	4.71B	4.79B
Net Debt	3.98B	2.72B	2.6B	2.54B	4.46B	4.41B	4.29B	3.94B	4B	4.39B
Long-Term Debt	4.04B	3B	2.94B	2.95B	3.87B	4.52B	4.67B	4.62B	4.49B	4.57B
Short-Term Borrowings	0	0	0	0	1000K	1000K	1000K	0	0	0
Capital Lease Obligations	17M	14M	16M	1M	261M	245M	227M	234M	224M	226M
Total Current Liabilities+	333M	468M	494M	455M	376M	836M	267M	417M	738M	597M
Accounts Payable	171M	167M	198M	183M	217M	147M	156M	220M	210M	226M
Deferred Revenue	-45M	-56M	-1M	-2.95B	0	0	0	0	0	0
Other Liabilities	215M	395M	447M	379M	282M	134M	165M	172M	200M	179M
Total Equity+	2.8B	3.82B	5.96B	5.59B	6.45B	4.84B	4.4B	4.29B	3.77B	3.59B
Equity Growth %	0.08%	0.37%	0.56%	-0.06%	0.15%	-0.25%	-0.09%	-0.03%	-0.12%	-0.05%
Shareholders Equity	2.82B	3.87B	6.01B	5.63B	6.5B	4.89B	4.45B	4.34B	3.81B	3.65B
Minority Interest	-24M	-49M	-49M	-46M	-45M	-50M	-49M	-48M	-46M	-51M
Common Stock	2.88B	3.94B	2M	2M	2M	2M	2M	2M	2M	2M
Additional Paid-in Capital	0	0	3.83B	3.59B	4.58B	4.52B	4.53B	4.32B	4.16B	4.06B
Retained Earnings	0	3.87B	2.23B	2.05B	1.92B	376M	-83M	16M	-344M	-420M
Preferred Stock	0	0	2.23B	2.05B	0	0	0	0	0	0
Return on Assets (ROA)	0.03%	0.01%	0.27%	0.05%	0.03%	-0.13%	-0.05%	0.02%	0.01%	0.02%
Return on Equity (ROE)	0.11%	0.04%	0.54%	0.08%	0.05%	-0.26%	-0.1%	0.04%	0.02%	0.06%
Debt / Assets	0.41%	0.31%	0.3%	0.31%	0.43%	0.51%	0.51%	0.5%	0.5%	0.52%
Debt / Equity	1.45x	0.79x	0.50x	0.53x	0.74x	1.11x	1.13x	1.13x	1.25x	1.33x
Net Debt / EBITDA	4.56x	1.00x	0.95x	0.90x	6.46x	-	42.05x	6.98x	6.34x	6.77x
Book Value per Share	14.13	19.31	27.86	27.38	30.29	20.52	18.66	18.82	17.53	17.20

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	519M	399M	653M	444M	499M	-438M	-137M	409M	503M	429M
Operating CF Growth %	0.01%	-0.23%	0.64%	-0.32%	0.12%	-1.88%	0.69%	3.99%	0.23%	-0.15%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	299M	139M	2.63B	477M	316M	-1.44B	-452M	173M	106M	212M
Depreciation & Amortization	287M	300M	288M	277M	264M	298M	281M	269M	287M	257M
Stock-Based Compensation	0	0	14M	16M	16M	20M	19M	17M	18M	19M
Other Non-Cash Items	17M	36M	3M	-192M	-69M	685M	40M	-95M	-26M	-53M
Working Capital Changes	61M	-37M	95M	-114M	-33M	33M	-24M	47M	104M	56M
Cash from Investing+	230M	-210M	-165M	419M	-635M	119M	394M	87M	-217M	-166M
Acquisitions (Net)	-1.41B	0	-1M	150M	-863M	-3M	-6M	101M	-11M	0
Purchase of Investments	0	0	-1M	-150M	-51M	-1M	-4M	0	0	0
Sale of Investments	0	1000K	0	1000K	1000K	1000K	1000K	1000K	0	0
Other Investing	1.87B	17M	21M	457M	468M	208M	404M	53M	79M	-166M
Cash from Financing+	-715M	30M	-459M	-816M	97M	914M	-475M	-320M	-475M	-573M
Dividends Paid	-81M	-180M	-386M	-464M	-494M	-241M	-241M	-7M	-152M	-512M
Common Dividends	-81M	-180M	-386M	-464M	-494M	-241M	-241M	-7M	-152M	-512M
Debt Issuance (Net)	-1000K	-1000K	-1000K	0	1000K	1000K	-1000K	-1000K	-1000K	1000K
Share Repurchases	0	0	-3M	-348M	-7M	-66M	-5M	-227M	-180M	-116M
Other Financing	-4M	974M	-18M	-4M	-27M	-50M	235M	-10M	-10M	-23M
Net Change in Cash+	30M	221M	29M	46M	-39M	595M	-218M	176M	-189M	-310M
Exchange Rate Effect	-1000K	1000K	0	-1000K	0	0	0	0	0	0
Cash at Beginning	42M	72M	350M	379M	425M	386M	981M	763M	939M	750M
Cash at End	72M	293M	379M	425M	386M	981M	763M	939M	750M	440M
Free Cash Flow+	293M	172M	468M	256M	259M	-524M	-191M	241M	218M	202M
FCF Growth %	-0.15%	-0.41%	1.72%	-0.45%	0.01%	-3.02%	0.64%	2.26%	-0.1%	-0.07%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.92	12.26	23.27	13.71	2.68	-4.84	-0.75	1.89	1.79	2.24
FFO Payout Ratio	13.99%	7.42%	7.75%	16.6%	86.67%	-21.1%	-135.39%	1.62%	39.58%	109.17%
NOI Margin	30.73%	30%	29.2%	30.03%	30.34%	-18.9%	16.67%	27.71%	27.65%	28.66%
Net Debt / EBITDA	4.56x	1.00x	0.95x	0.90x	6.46x	-	42.05x	6.98x	6.34x	6.77x
Debt / Assets	41.45%	30.63%	30.48%	31.49%	42.52%	50.68%	51.08%	49.85%	50.04%	52.3%
Interest Coverage	3.15x	2.31x	2.99x	3.97x	3.04x	-5.64x	-0.69x	1.20x	1.36x	1.43x
Book Value / Share	14.13	19.31	27.86	27.38	30.29	20.52	18.66	18.82	17.53	17.2
Revenue Growth	6.96%	1.45%	2.35%	-1.93%	3.91%	-70.04%	59.86%	83.63%	7.88%	-3.67%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Occupancy	-	1.72B	1.77B	526M	870M	1.56B	1.65B	1.57B
Occupancy Growth	-	-	3.21%	-70.30%	65.40%	79.20%	6.03%	-5.08%
Food and Beverage	-	-	-	-	251M	606M	696M	688M
Food and Beverage Growth	-	-	-	-	-	141.43%	14.85%	-1.15%
Ancillary Hotel	-	236M	253M	108M	190M	261M	264M	256M
Ancillary Hotel Growth	-	-	7.20%	-57.31%	75.93%	37.37%	1.15%	-3.03%
Hotel, Other	-	-	-	-	51M	75M	85M	86M
Hotel, Other Growth	-	-	-	-	-	47.06%	13.33%	1.18%
Food And Beverage	-	713M	743M	189M	-	-	-	-
Food And Beverage Growth	-	-	4.21%	-74.56%	-	-	-	-
Hotel Other	-	72M	77M	29M	-	-	-	-
Hotel Other Growth	-	-	6.94%	-62.34%	-	-	-	-
Consolidated Hotels	2.73B	-	-	-	-	-	-	-
Consolidated Hotels Growth	-	-	-	-	-	-	-	-
All Others	64M	-	-	-	-	-	-	-
All Others Growth	-	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	2.62B	-	-	-	1.36B	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-
Total Of All Other Countries	77M	61M	40M	3M	-	-	-	-
Total Of All Other Countries Growth	-	-20.78%	-34.43%	-92.50%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Park Hotels & Resorts Inc. (PK) has a price-to-earnings (P/E) ratio of 11.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Park Hotels & Resorts Inc. (PK) reported $2.58B in revenue for fiscal year 2024. This represents a 3% increase from $2.51B in 2014.

Park Hotels & Resorts Inc. (PK) saw revenue decline by 3.7% over the past year.

Yes, Park Hotels & Resorts Inc. (PK) is profitable, generating $58.0M in net income for fiscal year 2024 (8.2% net margin).

Dividend & Returns

Yes, Park Hotels & Resorts Inc. (PK) pays a dividend with a yield of 21.32%. This makes it attractive for income-focused investors.

Park Hotels & Resorts Inc. (PK) has a return on equity (ROE) of 5.8%. This is below average, suggesting room for improvement.

Industry Metrics

Park Hotels & Resorts Inc. (PK) generated Funds From Operations (FFO) of $377.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Park Hotels & Resorts Inc. (PK) offers a 21.32% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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