Park Hotels Reports Soft Q3 2025 with 6% Revenue Dip

Park Hotels & Resorts Inc., one of the largest lodging real estate investment trusts (REITs) in the US, reported Q3 2025 results with a mix of modest revenue growth and continued operational headwinds in a soft travel market.

The company recorded a net loss of $14 million, or $0.08 per diluted share, missing analyst expectations of a profit.

Revenue reached $610 million, slightly above estimates but 6 percent lower than the $649 million reported in Q3 2024.

Comparable RevPAR fell 6.1 percent year-over-year to $180.93, reflecting weaker demand in travel. Even when excluding the impact of the Royal South Beach Miami property (which has been closed since May 2025 for renovation), RevPAR still fell by nearly 5 percent.

Park’s strategy remains centered on its 20 most valuable assets, which comprise about 90 percent of total portfolio value. The company is also accelerating capital improvements and asset repositioning to enhance future performance.

The company has strengthened its balance sheet, expanding its revolving credit line from $950 million to $1 billion, extending debt maturities through 2029, and securing an additional $800 million in loan capacity.

The results come amid an industry-wide downturn, as the American Hotel & Lodging Association (AHLA) estimates $650 million in lost hotel business due to the prolonged US government shutdown. Alongside over 30 lodging associations, AHLA is urging Congress to take immediate action as occupancy rates continue to decline.

Photo by Kian Lem on Unsplash