Park Hotels & Resorts Inc

PK: XNYS (USA)
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Despite Demand Headwinds, Park Hotels Should See Revenue and NOI Growth Above Industry Average

Business Strategy and Outlook

Park Hotels & Resorts is the second-largest US lodging REIT, focusing on the upper-upscale hotel segment. The company was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017. Since the spinoff, the company has sold all its international hotels and 25 lower-quality U.S. hotels to focus on high-quality assets in domestic and gateway markets. Park completed the acquisition of Chesapeake Lodging Trust in September 2019, a complementary portfolio of 18 high-quality, upper-upscale hotels that should help to diversify Park's hotel brands to include Marriott, Hyatt, and IHG hotels.

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