Park Hotels & Resorts Inc. (PK) vs Ryman Hospitality Properties, Inc. (RHP)

Park Hotels & Resorts Inc. and Ryman Hospitality Properties, Inc. are both Reit Hotel & Motel companies. Ryman Hospitality Properties, Inc. is the larger, with a market value of $9.1B against $3.3B — 2.7× the size. Park Hotels & Resorts Inc. has negative trailing earnings, so its P/E is not meaningful; Ryman Hospitality Properties, Inc. trades at 31.3×. Ryman Hospitality Properties, Inc. grew revenue faster over the last twelve months: 12.3% against −1.36%. Ryman Hospitality Properties, Inc. has the higher net margin (9.91% vs −6.41%) and the higher return on invested capital (7.79% vs 0.49%). Both pay a dividend; Park Hotels & Resorts Inc. yields more (5.93% vs 3.56%). Across the 20 metrics below, Ryman Hospitality Properties, Inc. leads on 12 and Park Hotels & Resorts Inc. on 8.

Valuation

Metric PK RHP Reit Hotel & Motel median
P/E n/m 31.25 28.25
P/S 1.33 3.10 1.63
P/B 1.11 10.75 1.11
Price to free cash flow 30.92 30.95 8.28
EV/EBITDA 20.78 14.09 13.09
EV/Sales 2.75 4.40 2.84
Earnings yield (4.93%) 3.20% (0.33%)
Free cash flow yield 3.23% 3.23% 6.50%

Profitability

Metric PK RHP Reit Hotel & Motel median
Gross margin 65.09% 32.53% 37.37%
Operating margin 2.05% 19.82% 9.53%
Net margin (6.41%) 9.91% (0.66%)
Free cash flow margin 4.29% 10.01% 17.01%
Return on equity (5.08%) 33.29% 0.53%
Return on assets (1.97%) 4.42% (0.26%)
Return on invested capital 0.49% 7.79% 2.16%

Growth

Metric PK RHP Reit Hotel & Motel median
Revenue growth (TTM) (1.36%) 12.25% 1.17%
EPS growth (last fiscal year) (241.58%) (13.93%) (16.85%)
Revenue growth, 5-year CAGR 24.43% 37.49% 24.43%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PK RHP Reit Hotel & Motel median
Debt to equity 1.29 5.02 0.86
Current ratio 1.53 1.34 1.38
Net debt to EBITDA 11.46 4.47 5.14

Dividend

Metric PK RHP Reit Hotel & Motel median
Dividend yield 5.93% 3.56% 3.00%
Payout ratio — 1.17 1.24

Size

Metric PK RHP Reit Hotel & Motel median
Market cap 3.34b 9.09b 1.93b

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