Park Hotels & Resorts Inc. operates as a lodging real estate investment trust (REIT) that owns a geographically diverse portfolio of premium-branded hotels and resorts. The company was established in 2017 following its corporate spin-off from Hilton Worldwide, which allowed it to operate as an independent, publicly traded entity. Park's business model centers on acquiring, owning, and actively managing high-quality hospitality real estate, generating revenue primarily through room rentals, food and beverage sales, and ancillary hotel services.
The company's portfolio consists of over 30 hotels and resorts comprising more than 20,000 rooms, with a strong concentration in the luxury and upper-upscale segments. Its properties are strategically located in prime U.S. markets with high barriers to entry, including central business districts of major cities like New York, Chicago, and Boston, as well as premier resort destinations in Hawaii, Orlando, and Key West. While the majority of its properties operate under Hilton brands—such as Hilton Hotels & Resorts, DoubleTree, Embassy Suites, and Waldorf Astoria—Park has diversified its operator base to include brands franchised from Marriott and Hyatt following its 2019 acquisition of Chesapeake Lodging Trust.
Park Hotels & Resorts maintains a competitive position through its scale, affiliation with leading global hospitality brands, and focus on active asset management and capital recycling. By investing in high-return property enhancements and divesting non-core or slower-growth assets, the company aims to optimize its portfolio and deliver long-term value to its shareholders. All of its current operations and properties are located within the United States and its territories.
