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Park Hotels & Resorts Inc PK

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Stock XNYS Rating as of
$16.43 −0.36 (2.14%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Hotel Recovery Is Slowing but Still Producing Solid Growth for Park Hotel's Portfolio

Kevin Brown

Park Hotels & Resorts is the second-largest U.S. 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 23 lower-quality U.S. hotels to focus on high-quality assets in domestic, gateway markets. Park completed the acquisition of Chesapeake Lodging Trust in September 2019, a complimentary 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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Price vs Fair Value

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PK is trading at a 36% discount.
Price
$16.73
Fair Value
$64.00
Uncertainty
High
1-Star Price
$47.90
5-Star Price
$19.70
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Potentially accelerating economic growth may prolong a robust hotel cycle and benefit Park’s portfolio and performance.

Bears

Significant new supply throughout several of Park’s core markets and a rising interest rate environment will pressure the firm’s performance and valuation.

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News

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Trading Information

Previous Close Price
$16.79
Day Range
$16.33–16.54
52-Week Range
$11.06–18.02
Bid/Ask
$16.42 / $16.43
Market Cap
$3.46 Bil
Volume/Avg
383,204 / 2.5 Mil

Key Statistics

Price/Earnings (Normalized)
62.22
Price/Sales
1.34
Dividend Yield (Trailing)
8.85%
Dividend Yield (Forward)
5.98%
Total Yield
14.28%

Company Profile

Park Hotels & Resorts owns upper-upscale and luxury hotels with 23,428 rooms across 39 hotels in the United States. Park also has interests through joint ventures in another 2,665 rooms in four U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and many of its lower-quality U.S. hotels to focus on high-quality assets in domestic gateway markets.
Sector
Real Estate
Industry
REIT - Hotel & Motel
Stock Style Box
Small Core
Total Number of Employees
90
Website
https://www.pkhotelsandresorts.com

Competitors

Valuation

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Metric
PK
HST
PEB
Price/Earnings (Normalized)
 62.2219.79—
Price/Book Value
 0.922.050.68
Price/Sales
 1.342.591.30
Price/Cash Flow
 9.058.867.47
Price/Earnings
PK
HST
PEB

Financial Strength

Metric
PK
HST
PEB
Quick Ratio
 2.150.920.29
Current Ratio
 2.281.070.30
Interest Coverage
 1.424.810.32
Quick Ratio
PK
HST
PEB

Profitability

Metric
PK
HST
PEB
Return on Assets (Normalized)
 2.60%5.85%0.64%
Return on Equity (Normalized)
 6.02%10.55%1.34%
Return on Invested Capital (Normalized)
 4.58%7.02%2.18%
Return on Assets
PK
HST
PEB
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REIT - Hotel & Motel Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
HST
Host Hotels & Resorts IncXwlwgyxmByt$13.6 Bil
RHP
Ryman Hospitality Properties Inc—Wwg$6.5 Bil
APLE
Apple Hospitality REIT Inc—Bdgl$3.7 Bil
NIPOF
Japan Hotel REIT Investment Corp—Xxlgtfl$2.4 Bil
SHO
Sunstone Hotel Investors Inc—Wmns$2.1 Bil
DRH
Diamondrock Hospitality CoPxfjgtcvWchz$1.9 Bil
PEB
Pebblebrook Hotel TrustFvccjntxnKyhc$1.9 Bil
RLJ
RLJ Lodging Trust Registered Shs of Benef Interest—Sff$1.8 Bil
XHR
Xenia Hotels & Resorts Inc—Slmcs$1.5 Bil

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