Filing Flows › Park Hotels & Resorts (PK) › Q4 2025
Park Hotels & Resorts (PK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Park Hotels & Resorts (PK) reported revenue of $629M for the fourth quarter 2025 (Q4 2025), +0.6% from a year earlier and +3% from the quarter before. Operating margin was -26.1%, net loss $204M (32.4% of revenue).
Park Hotels & Resorts, Q4 2025: revenue $629M (+0.6% year over year), operating margin -26.1%, net loss $204M, operating cash flow $105M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $629M | +3% | +0.6% |
| Operating profit | −$164M | -378% | — |
| Net earnings | −$204M | — | — |
| Operating cash flow | $105M | +6% | +31% |
What changed
Revenue was $629.0M in Q4 2025, up 1% year over year and up 3% from the previous quarter. Rooms was the largest line at 59% of revenue.
Operating costs exceeded revenue by $164.0M, an operating margin of -26.1%. Total costs grew 46% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+48%). The quarter ended with a net loss of $204.0M, wider than the previous quarter's $14.0M loss.
Operating cash flow was $105.0M (up 31% year over year). Non-cash charges added back $67.0M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $237.0M. Capital expenditures of $108.0M exceeded it, leaving free cash flow of −$3.0M.
Questions
What was Park Hotels & Resorts' revenue in the fourth quarter 2025?
Park Hotels & Resorts (PK) reported revenue of $629M for the fourth quarter 2025 (Q4 2025), +0.6% from a year earlier and +3% from the quarter before.
Was Park Hotels & Resorts profitable in the fourth quarter 2025?
Operating loss was $164M (-26.1% of revenue) and net loss $204M.