Park Hotels Sells 5 Properties for $198M, Eyes Growth in Top Cities

Park Hotels & Resorts announced that it has sold or agreed to sell five non-core hotels for about $198 million at an average earnings multiple of nearly 43 times. These transactions represent a major step in the company’s ongoing plan to reduce lower performing assets and shift resources toward markets with stronger long-term potential.

Sale details

The completed deals include the sale of the 316 room Hyatt Centric Fisherman’s Wharf in San Francisco in May 2025 and the sale of Park’s ownership stake in the 559 room Capital Hilton in Washington, DC last month.

Three additional hotel sales are expected to close by early 2026.

The company also intends to exit three ground lease properties by year end, including the Embassy Suites in Kansas City, DoubleTree Seattle Airport, and DoubleTree Sonoma.

These assets delivered limited financial value, with an average 2025 RevPAR of $124 and an EBITDA margin of only 7 percent.

Next moves

As these transactions progress, the company aims to sell the rest of its non-core assets over the next 12 months. This will allow Park to concentrate resources on about 20 priority hotels located in high demand markets such as Hawaii, Orlando, and New York.

Park’s recent performance

The portfolio reshaping comes during a challenging stretch for Park, which has seen its stock decline more than 20 percent this year.

In the third quarter of 2025, the company posted a net loss of $14 million, falling short of analysts’ predictions for a profit. While revenue hit $610 million, slightly beating forecasts, it was still down 6 percent compared to the $649 million reported in the same quarter a year earlier.

The asset sales increase liquidity that can support shareholder dividends and fit into a broader pattern of retreat from underperforming cities.

Photo by Shen Pan on Unsplash