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Park Hotels & Resorts cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$58.0M in Q3 2026 · $108M over twelve months

Operating cash flow$115M
Capital spending−$57.0M
Free cash flow+$58.0M

Analysis

In Q3 2026, Park Hotels & Resorts generated $115M of operating cash flow and spent $57.0M on capital projects, leaving free cash flow of $58.0M. That is $27.0M more than in Q3 2025 ($31.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $420M; the largest uses were net borrowing (+) / repaid (−) ($1.5B), capital spending ($312M), dividends ($200M); besides operations, cash came from other financing ($1.5B), asset & business sales ($38.0M); the cash balance rose by $26.0M.

Operating cash flow was $115M against net income of −$15.0M. The largest differences: depreciation & amortization +$74.0M, other operating capital +$41.0M, impairments +$7.0M.

Free cash flow

Park Hotels & Resorts: free cash flow by quarterPark Hotels & Resorts: free cash flow by quarter$17.0MQ4 2024$9.0MQ1 2025$65.0MQ2 2025$31.0MQ3 2025−$3.0MQ4 2025−$24.0MQ1 2026$77.0MQ2 2026$58.0MQ3 2026
Operating cash flow less capital spending.
Park Hotels & Resorts: operating cash flow against capital spendingPark Hotels & Resorts: operating cash flow against capital spendingOperating cash flowCapital spending$80.0M$63.0MQ4 2024$86.0M$77.0MQ1 2025$108M$43.0MQ2 2025$99.0M$68.0MQ3 2025$105M$108MQ4 2025$59.0M$83.0MQ1 2026$141M$64.0MQ2 2026$115M$57.0MQ3 2026
Latest (Q3 2026): Operating cash flow $115M, Capital spending $57.0M.

Capital allocation, year by year

Park Hotels & Resorts: where the cash came from (up) and went (down), by fiscal yearPark Hotels & Resorts: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow −$137MFY2021: Net borrowing −$463MFY2021: Asset sales $931MFY2021: Capital spending −$54.0M$931MFY2021FY2022: Operating cash flow $409MFY2022: Net borrowing −$62.0MFY2022: Asset sales $292MFY2022: Capital spending −$168MFY2022: Buybacks −$227MFY2022: Dividends −$7.0M$701MFY2022FY2023: Operating cash flow $503MFY2023: Net borrowing −$133MFY2023: Asset sales $116MFY2023: Capital spending −$285MFY2023: Acquisitions −$11.0MFY2023: Buybacks −$180MFY2023: Dividends −$152M$619MFY2023FY2024: Operating cash flow $429MFY2024: Net borrowing $178MFY2024: Asset sales $31.0MFY2024: Capital spending −$227MFY2024: Buybacks −$116MFY2024: Dividends −$512M$638MFY2024FY2025: Operating cash flow $398MFY2025: Net borrowing −$9.0MFY2025: Asset sales $195MFY2025: Capital spending −$296MFY2025: Buybacks −$45.0MFY2025: Dividends −$280M$593MFY2025
Over these 5 years operating cash flow totalled $1.6B; the largest uses were capital spending ($1.0B) and dividends ($951M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$295M
Debt$4.0B
Net debt$3.7B
Due within a year$1.6B

Park Hotels & Resorts funds itself: free cash flow was $108M over the last twelve months, and $295M of cash and investments stands against $4.0B of debt ($1.6B due within a year, 0.2× covered by cash).

Park Hotels & Resorts: debt maturities by year (FY2025)Park Hotels & Resorts: debt maturities by year (FY2025)$1.6BYear 1$230MYear 2$725MYear 3$750MYear 4$550MYear 5
Principal due in each year as disclosed in the annual report, against $295M of cash and investments now.

Where the cash came from and went

Park Hotels & Resorts: sources (+) and uses (−) of cash, Q3 2026Park Hotels & Resorts: sources (+) and uses (−) of cash, Q3 2026Other financing$695MNet borrowing (+) / repaid (−)−$676MOperating cash flow$115MCapital spending−$57.0MDividends−$50.0MCash drawn (+) / kept (−)−$33.0MAsset & business sales$22.0MOther investing−$12.0MPartners−$4.0M
Park Hotels & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026Park Hotels & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$1.5BNet borrowing (+) / repaid (−)−$1.5BOperating cash flow$420MCapital spending−$312MDividends−$200MAsset & business sales$38.0MCash drawn (+) / kept (−)−$26.0MOther investing$15.0MPartners−$10.0MTaxes on employees’ shares−$9.0M

From profit to cash

Park Hotels & Resorts: net income to operating cash flow, Q3 2026Park Hotels & Resorts: net income to operating cash flow, Q3 2026Net income−$15.0MDepreciation & amortization$74.0MStock-based pay$5.0MDeferred taxes−$1.0MImpairments$7.0MGains on disposals$1.0MOther operating capital$41.0MOperating cash flow$115M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$115M−$57.0M—−$50.0M−$676M−$33.0M$58.0M
Q2 2026$141M−$64.0M—−$50.0M−$122M−$112M$77.0M
Q1 2026$59.0M−$83.0M—−$50.0M−$2.0M$74.0M−$24.0M
Q4 2025$105M−$108M—−$50.0M−$3.0M$45.0M−$3.0M
Q3 2025$99.0M−$68.0M—−$49.0M−$2.0M$38.0M$31.0M
Q2 2025$108M−$43.0M—−$50.0M−$2.0M−$87.0M$65.0M
Q1 2025$86.0M−$77.0M−$45.0M−$131M−$2.0M$180M$9.0M
Q4 2024$80.0M−$63.0M−$56.0M−$53.0M−$16.0M$78.0M$17.0M

Park Hotels & Resorts: income statement and cash flow

Park Hotels & Resorts, Q3 2026: revenue $602M (-1% year over year), operating margin 6.3%. The chart follows the revenue to costs, profit and cash.

Park Hotels & Resorts: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.