Park Hotels Reveals Sale of Non-Core Assets and Offers Operational Update

Asset Sales and Strategic Plan: Park Hotels & Resorts Inc. has sold or agreed to sell five non-core assets for approximately $198 million, with plans to divest additional low-performing properties by the end of 2025 as part of a strategy to optimize its portfolio and strengthen its balance sheet.

Revenue Performance: Despite a temporary government shutdown affecting air traffic, Park Hotels reported a nearly 2% increase in comparable revenue per available room (RevPAR) in November, driven by strong performances in key markets like Hawaii, New York, and Denver.

Core Market Growth: The company's core hotels have shown solid RevPAR growth, with notable increases in October and November, particularly at the Hawaiian Village Waikiki Beach Resort, which contributed significantly to overall portfolio performance.

Stock Performance and Future Outlook: Park Hotels' shares have gained 0.4% over the past month, contrasting with a decline in the broader industry, while the company maintains a positive outlook for the full year, supported by ongoing asset sales and strong market demand.