Park Hotels & Resorts Inc

Park Hotels & Resorts raised its full-year 2026 adjusted EBITDA guidance to a range of $617 million to $637 million, up from the prior $587 million to $617 million, while also lifting its RevPAR growth outlook to 3% to 4.5%. The company reported second-quarter hotel adjusted EBITDA of $204 million, a nearly 9% increase, and adjusted FFO per share of $0.70. Total portfolio RevPAR rose nearly 6% to $217, and management highlighted the July 22 reopening of the Royal Palm South Beach after a more than $100 million redevelopment, which it believes could double the hotel's EBITDA upon stabilization over the next two years. Park also noted it has sold or disposed of 10 of the 19 identified non-core hotels since early 2025, generating nearly $200 million in proceeds, and plans to fully repay the $1.27 billion Hilton Hawaiian Village mortgage in September.