Park Hotels & Resorts Inc. reported a return to profitability in Q1 2026, posting net income of $12 million compared to a $57 million loss in the same period last year, driven largely by strong resort performance and strategic portfolio actions.
Comparable RevPAR rose 2.2% year-on-year to $191.05, while core RevPAR grew 1.5%, with performance significantly stronger when adjusted for the ongoing renovation of Royal Palm South Beach Miami.
Resorts emerged as the key growth driver, led by the Bonnet Creek complex in Orlando, which saw RevPAR surge nearly 16% and group revenues rise around 19%. Properties in Hawaii, Puerto Rico and Santa Barbara also delivered steady gains, while urban hotels in New York, San Francisco and Denver showed resilience.
The company continued to invest in asset upgrades, spending $83 million during the quarter on renovations, including major work in Hawaii and the Royal Palm property, which is scheduled to reopen in June 2026.
As part of its portfolio optimisation strategy, Park Hotels sold non-core assets including the Hilton Seattle Airport & Conference Center and Hilton Checkers Los Angeles for approximately $31 million.
Looking ahead, the company expects modest RevPAR growth of up to 2.5% in 2026, supported by demand tailwinds from major events such as the FIFA World Cup and the U.S. 250th anniversary celebrations.
The results underline Park Hotels’ strategy of focusing on high-performing resort assets, disciplined capital allocation and balance sheet management to drive long-term growth.
