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Park Hotels & Resorts Inc PK

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Park Hotels' Renovated Portfolio Poised To Produce Solid Growth Over Next Several Quarters

Kevin Brown

Park Hotels & Resorts is the second-largest US lodging REIT, focusing on the upper-upscale hotel segment. The company was spun out of Hilton Worldwide Holdings at the start of 2017. Since then, it has sold all its international hotels and 29 lower-quality US hotels to focus on high-quality assets in domestic and gateway markets. Park completed the acquisition of Chesapeake Lodging Trust in September 2019; this complementary portfolio of 18 high-quality upper-upscale hotels has diversified Park's hotel brands to include Marriott, Hyatt, and IHG brands.

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Price vs Fair Value

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PK is trading at a LOCK|!W@J!^t premium.
Price
$15.42
Fair Value
LOCK|.H@
Uncertainty
LOCK|&B$
1-Star Price
LOCK|.!yr
5-Star Price
LOCK|.X&
Economic Moat
LOCK|n$
Capital Allocation
LOCK|G>JK%&l

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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Trading Information

Previous Close Price
—
Day Range
—–—
52-Week Range
—–—
Bid/Ask
— / —
Shares Outstanding
201.34M
Market Cap
—
Volume/Avg
— / —

Key Statistics

Price/Earnings (Normalized)
47.42
Price/Sales
1.21
Dividend Yield (Trailing)
6.49%
Dividend Yield (Forward)
6.49%
Dividend Payment Schedule
Jan, Apr, Jul, Oct
Total Yield
6.49%

Company Profile

Park Hotels & Resorts owns upper-upscale and luxury hotels, with 19,902 rooms across 29 hotels in the United States. Park also has an interest through a joint venture in another 1,424 rooms in another US hotel. Park was spun out of Hilton Worldwide Holdings at the start of 2017, so most of its hotels are still under the Hilton brand. The company has sold all its international hotels and many of its lower-quality US hotels to focus on high-quality assets in domestic gateway markets.
Sector
Real Estate
Industry
REIT - Hotel & Motel
Stock Style Box
Small Value
Total Number of Employees
90
Website
https://www.pkhotelsandresorts.com

Competitors

Valuation

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Metric
PK
VMRK
PEB
Price/Earnings (Normalized)
 47.4234.89—
Price/Book Value
 1.001.980.87
Price/Sales
 1.217.741.43
Price/Cash Flow
 7.8114.578.26
Price/Earnings
PK
VMRK
PEB

Financial Strength

Metric
PK
VMRK
PEB
Quick Ratio
 1.080.050.43
Current Ratio
 1.360.140.44
Interest Coverage
 0.344.640.66
Quick Ratio
PK
VMRK
PEB

Profitability

Metric
PK
VMRK
PEB
Return on Assets (Normalized)
 0.72%3.60%0.79%
Return on Equity (Normalized)
 1.82%6.73%1.72%
Return on Invested Capital (Normalized)
 3.15%4.66%2.36%
Return on Assets
PK
VMRK
PEB

REIT - Hotel & Motel Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Host Hotels & Resorts Inc
HST
LOCK|m!hlkHLOCK|@F&$15B
 Ryman Hospitality Properties Inc
RHP
—LOCK|Fpb>$8B
 Apple Hospitality REIT Inc
APLE
—LOCK|Gc$4B
 Japan Hotel REIT Investment Corp
NIPOF
—LOCK|zW<$3B
 Diamondrock Hospitality Co
DRH
LOCK|jZvDD^LOCK|$Dw$3B
 Pebblebrook Hotel Trust
PEB
LOCK|N!T?B!RLOCK|R!B$2B
 Sunstone Hotel Investors Inc
SHO
—LOCK|?<w$2B
 RLJ Lodging Trust Registered Shs of Benef Interest
RLJ
—LOCK|?h%$2B
 Xenia Hotels & Resorts Inc
XHR
—LOCK|t#$2B

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