Park Hotels & Resorts (PK) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Park Hotels & Resorts published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Park Hotels & Resorts reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted FFO per share (diluted), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Park Hotels & Resorts is a lodging REIT. Revenue here is the line it calls total revenues. The adjusted per-share figure is its Adjusted FFO per share (diluted), the per-share measure it leads with; its Nareit FFO per share was $0.31, against $0.22.
• The segment rows follow the 10-Q, which splits hotel revenue between Core and Non-Core hotels and recast prior periods for that change. Non-Core revenue is falling partly because Park is selling those hotels.
• Q4 2025 GAAP diluted EPS of $(1.04) included $248 million of impairment expense, primarily related to Non-Core hotels.

Source: Park Hotels & Resorts Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Park Hotels & Resorts splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Park Hotels & Resorts's Core hotels revenue was $498 million in Q3 2026, up 5% from $474 million in Q3 2025, 83% of total revenue.
• Park Hotels & Resorts's Non-Core hotels revenue was $79.0 million in Q3 2026, down 30% from $113 million in Q3 2025, 13% of total revenue.
• Park Hotels & Resorts's Other revenues revenue was $25.0 million in Q3 2026, up 9% from $23.0 million in Q3 2025, 4% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Park Hotels & Resorts gives a full-year outlook only. Its full-year 2026 ranges (Comparable RevPAR, net income, Adjusted EBITDA and Adjusted FFO per share) are in a table in the release and are summarized below under expectations; these are the assumptions it states in words.

In its Q3 2026 release, Park Hotels & Resorts said:

“Park is increasing its full-year 2026 outlook to reflect strong third quarter results and demand trends expected for the fourth quarter.”

“Comparable RevPAR for the fourth quarter is expected to increase 5.5% to 7.5%”

“Operating expenses for Park's hotels for the full-year are expected to increase 4.5% to 5.0%”

“Fully diluted weighted average shares for the full-year 2026 of 201 million”

Source: Park Hotels & Resorts Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PK forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues and GAAP diluted (loss) earnings per share, each as first reported in that quarter's release.

We do not hold a confirmed date for Park Hotels & Resorts's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Park Hotels & Resorts is a lodging REIT that owns premium-branded U.S. hotels and resorts: 34 hotels with about 23,000 rooms as of February 20, 2026, with 21 Core hotels at the center of its strategy. Total revenues were $602 million in Q3 2026, against $610 million. Rooms brought in $367 million, food and beverage $146 million, ancillary hotel revenue $64 million and other revenue $25 million. (Park Hotels & Resorts Form 10-K, 2025, Feb 20, 2026; Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Park splits hotel revenue between Core and Non-Core hotels. Core hotel revenues rose to $498 million from $474 million, while Non-Core revenues fell to $79 million from $113 million as Park sold hotels. Six Non-Core hotels were sold or disposed of in 2026 through the Q4 sale of The Wade, and eight remain, including three Safehold leases whose disposition timing Park says cannot be determined given ongoing litigation. (Park Hotels & Resorts Form 10-Q, Q3 2026, Nov 5, 2026; Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Comparable RevPAR rose 8.4% to $201.02, on occupancy of 76.4% (from 74.0%) and an average daily rate of $263.19 (from $250.70). Park said group rooms revenue rose over 18%. Its largest hotel, the 2,886-room Hilton Hawaiian Village Waikiki Beach Resort, had hotel revenue of $117 million, up from $107 million, with RevPAR up 5.0% despite storms that Park said cut nearly 280 basis points from combined Hawaii RevPAR growth. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Park's Washington, D.C. hotels had an over 160% increase in group revenue on government-related demand, lifting their combined RevPAR by nearly 33%. Hilton New Orleans Riverside RevPAR fell 14.0% and New York Hilton Midtown hotel revenue fell to $76 million from $80 million. Park said in-house groups spent less outside their rooms than usual, so food and beverage revenue rose only 2%. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Park Hotels & Resorts had a diluted loss per share of $(0.10) in Q3 2026, a net loss attributable to stockholders of $18 million, against $(0.08) a year earlier. Its Adjusted FFO per share was $0.39, up 11.2% from $0.35. Nareit FFO adds back depreciation and amortization ($74 million in the quarter) and impairment losses to net income; Adjusted FFO also adds back severance, share-based compensation and other items. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

The quarter's GAAP result carried $8 million of impairment and casualty loss, which the year-ago quarter did not have, and interest expense of $55 million. Operating income fell to $38 million from $59 million. Q3 2025 operating income included a $16 million gain on derecognition of assets, which offset interest accrued on the defaulted mortgage loan of the Hilton San Francisco hotels. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Diluted weighted average shares were 202 million for Adjusted FFO per share and 200 million for the GAAP loss per share, which excludes anti-dilutive shares. Park declared a fourth quarter dividend of $0.25 per share, payable January 15, 2027. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Park Hotels & Resorts raised its full-year 2026 outlook in the release. It now expects Comparable RevPAR of $205 to $206, up 5.5% to 6.0% on 2025, Adjusted EBITDA of $635 to $645 million and Adjusted FFO per share of $2.00 to $2.05, against $1.90 to $2.00 in its August 6, 2026 outlook. Its net income range was lowered to $70 to $80 million. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

Park's outlook assumes Q4 Comparable RevPAR growth of 5.5% to 7.5% and about $13 million of incremental interest expense from $1.5 billion of refinancing in 2026. Park said preliminary October Comparable RevPAR rose nearly 11%, and Core Group Revenue Pace for 2027 was up nearly 6% at the end of September 2026. (Park Hotels & Resorts Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Park Hotels & Resorts, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Park Hotels & Resorts's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PK is on is PK a buy or a sell?, what analysts expect next is on the PK forecast, and what the company does is on the Park Hotels & Resorts (PK) stock page.

Every number on this page can be traced to a document Park Hotels & Resorts published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.