Park Hotels plans to sell non-core hotels for $560M-$600M, reaffirms 2025 guidance

Park Hotels & Resorts Inc.

Plan to dispose of 16 non-core hotels over next 12+ months; estimated proceeds $560M-$600M.
Proceeds expected to reduce net-debt to EBITDA by 0.3x-0.4x; used for debt paydown.
Reaffirmed FY 2025 Adj. EBITDA guidance $595M-$620M; Adj. FFO/sh $1.85-$1.97.
Preliminary Oct Core RevPAR (ex Royal Palm) up 3.8% YoY; Nov up ~2%.
Core portfolio RevPAR $218, Hotel Adj. EBITDA margin 30%, significantly above non-core.

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