Park Hotels & Resorts Business Summary

Park Hotels & Resorts Inc. (PK) operates as a leading real estate investment trust (REIT) focused on the ownership of upper-upscale and luxury lodging properties. The company generates the majority of its revenue through room rentals (approximately 60–70%) and food and beverage services (20–30%), supplemented by ancillary income from catering, spa services, and parking. Its business is segmented primarily into large-scale group/convention hotels in urban gateway markets and premium destination resorts. As of early 2026, the portfolio comprises approximately 43 properties with 26,000 rooms, concentrated in high-barrier markets such as Hawaii, Orlando, and New Orleans. Park Hotels & Resorts maintains a top-tier market position as one of the three largest publicly traded hotel REITs in the United States by room count and enterprise value, competing directly with Host Hotels & Resorts (HST), Ryman Hospitality Properties (RHP), and Pebblebrook Hotel Trust (PEB). Established in 2017 following a strategic spin-off from Hilton Worldwide Holdings Inc., the company is led by Chairman, President, and CEO Thomas J. Baltimore, Jr., a hospitality veteran who previously co-founded RLJ Development and served as CEO of RLJ Lodging Trust. The executive leadership team includes EVP and CFO Sean M. Dell'Orto, formerly of Hilton, and EVP and Chief Investment Officer Thomas C. Morey, who oversees capital recycling and M&A strategy. The company’s governance is supported by a board of directors featuring industry leaders such as Timothy J. Naughton (former CEO of AvalonBay Communities) and Terri McClements (appointed January 2026). Park Hotels & Resorts is backed by a robust institutional investor base, with major holdings from Vanguard, BlackRock, and State Street, reflecting its status as a core constituent in the lodging REIT sector.