$PK
Park Hotels & Resorts Inc.

2021 Q2 Form 10-Q Financial Statement

#000095017021001013 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $323.0M $42.00M
YoY Change 669.05% -94.03%
Cost Of Revenue $101.0M $34.00M
YoY Change 197.06% -86.01%
Gross Profit $222.0M $8.000M
YoY Change 2675.0% -98.26%
Gross Profit Margin 68.73% 19.05%
Selling, General & Admin $183.0M $130.0M
YoY Change 40.77% -49.61%
% of Gross Profit 82.43% 1625.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.00M $75.00M
YoY Change -5.33% 22.95%
% of Gross Profit 31.98% 937.5%
Operating Expenses $267.0M $209.0M
YoY Change 27.75% -37.98%
Operating Profit -$44.00M -$200.0M
YoY Change -78.0% -280.18%
Interest Expense $66.00M $50.00M
YoY Change 32.0% 51.52%
% of Operating Profit
Other Income/Expense, Net $13.00M $4.000M
YoY Change 225.0% -77.78%
Pretax Income -$114.0M -$258.0M
YoY Change -55.81% -389.89%
Income Tax $0.00 $3.000M
% Of Pretax Income
Net Earnings -$116.0M -$259.0M
YoY Change -55.21% -415.85%
Net Earnings / Revenue -35.91% -616.67%
Basic Earnings Per Share -$0.49 -$1.10
Diluted Earnings Per Share -$0.49 -$1.10
COMMON SHARES
Basic Shares Outstanding 236.0M 235.0M
Diluted Shares Outstanding 236.0M 235.0M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $909.0M $1.274B
YoY Change -28.65% 310.97%
Cash & Equivalents $909.0M $1.309B
Short-Term Investments
Other Short-Term Assets $35.00M $43.00M
YoY Change -18.6% -51.14%
Inventory
Prepaid Expenses
Receivables $63.00M $31.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.007B $1.348B
YoY Change -25.3% 130.82%
LONG-TERM ASSETS
Property, Plant & Equipment $8.820B $9.323B
YoY Change -5.4% 20.08%
Goodwill
YoY Change
Intangibles $44.00M
YoY Change
Long-Term Investments $13.00M $23.00M
YoY Change -43.48% -55.77%
Other Assets $112.0M $35.00M
YoY Change 220.0% -79.41%
Total Long-Term Assets $9.259B $9.711B
YoY Change -4.65% 9.77%
TOTAL ASSETS
Total Short-Term Assets $1.007B $1.348B
Total Long-Term Assets $9.259B $9.711B
Total Assets $10.27B $11.06B
YoY Change -7.17% 17.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $178.0M $129.0M
YoY Change 37.98% -37.98%
Accrued Expenses $236.0M $253.0M
YoY Change -6.72% 26.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $504.0M $456.0M
YoY Change 10.53% -30.91%
LONG-TERM LIABILITIES
Long-Term Debt $5.100B $5.118B
YoY Change -0.35% 73.55%
Other Long-Term Liabilities $107.0M $123.0M
YoY Change -13.01% -39.71%
Total Long-Term Liabilities $5.207B $5.241B
YoY Change -0.65% 66.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $504.0M $456.0M
Total Long-Term Liabilities $5.207B $5.241B
Total Liabilities $5.721B $5.684B
YoY Change 0.65% 47.44%
SHAREHOLDERS EQUITY
Retained Earnings $70.00M
YoY Change
Common Stock $4.527B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.594B $5.375B
YoY Change
Total Liabilities & Shareholders Equity $10.27B $11.06B
YoY Change -7.17% 17.26%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$116.0M -$259.0M
YoY Change -55.21% -415.85%
Depreciation, Depletion And Amortization $71.00M $75.00M
YoY Change -5.33% 22.95%
Cash From Operating Activities -$90.00M -$145.0M
YoY Change -37.93% -184.3%
INVESTING ACTIVITIES
Capital Expenditures -$8.000M -$30.00M
YoY Change -73.33% -46.43%
Acquisitions
YoY Change
Other Investing Activities $165.0M $0.00
YoY Change -100.0%
Cash From Investing Activities $157.0M -$30.00M
YoY Change -623.33% -127.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.00M 142.0M
YoY Change -116.2% -256.04%
NET CHANGE
Cash From Operating Activities -90.00M -145.0M
Cash From Investing Activities 157.0M -30.00M
Cash From Financing Activities -23.00M 142.0M
Net Change In Cash 44.00M -33.00M
YoY Change -233.33% -117.37%
FREE CASH FLOW
Cash From Operating Activities -$90.00M -$145.0M
Capital Expenditures -$8.000M -$30.00M
Free Cash Flow -$82.00M -$115.0M
YoY Change -28.7% -150.44%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity Central Index Key
EntityCentralIndexKey
0001617406
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-37795
dei Entity Registrant Name
EntityRegistrantName
Park Hotels & Resorts Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-2058176
dei Entity Address Address Line1
EntityAddressAddressLine1
1775 Tysons Boulevard
dei Entity Address Address Line2
EntityAddressAddressLine2
7th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
Tysons
dei Entity Address State Or Province
EntityAddressStateOrProvince
VA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
22102
dei City Area Code
CityAreaCode
571
dei Local Phone Number
LocalPhoneNumber
302-5757
dei Security12b Title
Security12bTitle
Common Stock, $0.01 par value per share
dei Trading Symbol
TradingSymbol
PK
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
236492895
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8820000000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9193000000
CY2021Q2 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
77000000
CY2020Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
0
CY2021Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
13000000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
14000000
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
44000000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
45000000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
909000000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
951000000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
35000000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
30000000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2000000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3000000
CY2021Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
63000000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
26000000
CY2021Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
35000000
CY2020Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
39000000
CY2021Q2 us-gaap Other Assets
OtherAssets
50000000
CY2020Q4 us-gaap Other Assets
OtherAssets
60000000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
220000000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
229000000
CY2021Q2 us-gaap Assets
Assets
10266000000
CY2020Q4 us-gaap Assets
Assets
10587000000
CY2021Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5100000000
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5121000000
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
178000000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
147000000
CY2021Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
90000000
CY2020Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
88000000
CY2021Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
10000000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
10000000
CY2021Q2 us-gaap Other Liabilities
OtherLiabilities
107000000
CY2020Q4 us-gaap Other Liabilities
OtherLiabilities
134000000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
236000000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
244000000
CY2021Q2 us-gaap Liabilities
Liabilities
5721000000
CY2020Q4 us-gaap Liabilities
Liabilities
5744000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
236891740
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
236493847
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
236217344
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
235915749
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
2000000
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
2000000
CY2021Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
4525000000
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
4519000000
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
70000000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
376000000
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-3000000
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4000000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
4594000000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
4893000000
CY2021Q2 us-gaap Minority Interest
MinorityInterest
-49000000
CY2020Q4 us-gaap Minority Interest
MinorityInterest
-50000000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4545000000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4843000000
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10266000000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10587000000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323000000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
488000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
641000000
CY2021Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
52000000
CY2020Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
56000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
100000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
116000000
CY2021Q2 pk Management And Franchise Fees
ManagementAndFranchiseFees
14000000
CY2020Q2 pk Management And Franchise Fees
ManagementAndFranchiseFees
0
pk Management And Franchise Fees
ManagementAndFranchiseFees
21000000
pk Management And Franchise Fees
ManagementAndFranchiseFees
25000000
CY2021Q2 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
5000000
CY2020Q2 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
0
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
5000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
694000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-114000000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-258000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
71000000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
75000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
145000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
150000000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16000000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
34000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
30000000
CY2021Q2 us-gaap Other Expenses
OtherExpenses
13000000
CY2020Q2 us-gaap Other Expenses
OtherExpenses
4000000
us-gaap Other Expenses
OtherExpenses
20000000
us-gaap Other Expenses
OtherExpenses
25000000
CY2021Q2 us-gaap Costs And Expenses
CostsAndExpenses
373000000
CY2020Q2 us-gaap Costs And Expenses
CostsAndExpenses
243000000
us-gaap Costs And Expenses
CostsAndExpenses
661000000
us-gaap Costs And Expenses
CostsAndExpenses
1541000000
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
CY2020Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
63000000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-44000000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-200000000
us-gaap Operating Income Loss
OperatingIncomeLoss
-167000000
us-gaap Operating Income Loss
OperatingIncomeLoss
-837000000
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2021Q2 us-gaap Interest Expense
InterestExpense
66000000
CY2020Q2 us-gaap Interest Expense
InterestExpense
50000000
us-gaap Interest Expense
InterestExpense
129000000
us-gaap Interest Expense
InterestExpense
90000000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2000000
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-8000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-9000000
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-304000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-937000000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-114000000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-261000000
us-gaap Profit Loss
ProfitLoss
-305000000
us-gaap Profit Loss
ProfitLoss
-950000000
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-116000000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-259000000
us-gaap Net Income Loss
NetIncomeLoss
-306000000
us-gaap Net Income Loss
NetIncomeLoss
-947000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4000000
CY2020Q2 pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapTax
0
CY2021Q2 pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapTax
0
pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapTax
0
pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapTax
0
CY2021Q2 pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Net Of Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapNetOfTax
0
CY2020Q2 pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Net Of Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapNetOfTax
-1000000
pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Net Of Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapNetOfTax
1000000
pk Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap Net Of Tax
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwapNetOfTax
-7000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3000000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-114000000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-262000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-304000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-953000000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2000000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-2000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-3000000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-116000000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-260000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-305000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-950000000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.10
us-gaap Payments Of Dividends
PaymentsOfDividends
0
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.01
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.01
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
235000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
us-gaap Profit Loss
ProfitLoss
-305000000
us-gaap Profit Loss
ProfitLoss
-950000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
145000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
150000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
63000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
5000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
694000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-9000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3000000
us-gaap Share Based Compensation
ShareBasedCompensation
10000000
us-gaap Share Based Compensation
ShareBasedCompensation
6000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3000000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
23000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
17000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-161000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-158000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
56000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
168000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
207000000
pk Contributions To Equity Method Investment
ContributionsToEquityMethodInvestment
5000000
pk Contributions To Equity Method Investment
ContributionsToEquityMethodInvestment
2000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
4000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
1000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
154000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
150000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1000000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
761000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
388000000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
750000000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
652000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
14000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0
us-gaap Repayments Of Debt
RepaymentsOfDebt
14000000
us-gaap Repayments Of Debt
RepaymentsOfDebt
4000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
15000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
15000000
us-gaap Payments Of Dividends
PaymentsOfDividends
241000000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
66000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-30000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
931000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
923000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
981000000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
386000000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
944000000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1309000000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4843000000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-191000000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4653000000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6000000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-114000000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4545000000
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6451000000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-4000000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-689000000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2000000
CY2020Q1 us-gaap Dividends
Dividends
106000000
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
66000000
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5583000000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5000000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-261000000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000000
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5326000000
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11229000000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11474000000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:8.0pt;line-height:1.235;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Reclassifications</span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.235;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Certain line items on the condensed consolidated statements of comprehensive loss and the condensed consolidated statements of cash flows for the six months ended June 30, 2020</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> have been reclassified to conform to the current period presentation.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:8.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.235;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim results are not necessarily indicative of full year performance.</span></p>
CY2021Q2 us-gaap Land
Land
3381000000
CY2020Q4 us-gaap Land
Land
3429000000
CY2021Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6775000000
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6951000000
CY2021Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1025000000
CY2020Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1042000000
CY2021Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
48000000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
52000000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2409000000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2281000000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8820000000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9193000000
CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
77000000
CY2021Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
71000000
CY2020Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
75000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
144000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
149000000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
5000000
CY2021Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
5000000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
88000000
CY2021Q2 pk Number Of Consolidated Variable Interest Entities
NumberOfConsolidatedVariableInterestEntities
3
CY2021Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
13000000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
14000000
CY2021Q2 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
943000000
CY2020Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
943000000
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
607000000
CY2020 pk Percentage Of Adjusted Taxable Income
PercentageOfAdjustedTaxableIncome
0.30
CY2021Q2 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
5144000000
CY2020Q4 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
5156000000
CY2021Q2 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3000000
CY2020Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3000000
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
47000000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
38000000
CY2021Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5100000000
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5121000000
CY2020Q2 pk Debt Instrument Libor Floor
DebtInstrumentLIBORFloor
0.0025
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
7000000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
98000000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
839000000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
504000000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
657000000
CY2021Q2 pk Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
3039000000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
5144000000
pk Percentage Of Adjusted Taxable Income
PercentageOfAdjustedTaxableIncome
0.50
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
pk Income Tax Expense Benefit Built In Gains Losses
IncomeTaxExpenseBenefitBuiltInGainsLosses
12000000
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
14000000
pk Income Tax Benefit Partially Offset By Trs
IncomeTaxBenefitPartiallyOffsetByTRS
16000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.600
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.002
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.600
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-116000000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-259000000
us-gaap Net Income Loss
NetIncomeLoss
-306000000
us-gaap Net Income Loss
NetIncomeLoss
-947000000
CY2021Q2 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
CY2020Q2 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
CY2021Q2 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-116000000
CY2020Q2 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-259000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-306000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-947000000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2020Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
235000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.01
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.01
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323000000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
488000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
641000000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-114000000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-261000000
us-gaap Profit Loss
ProfitLoss
-305000000
us-gaap Profit Loss
ProfitLoss
-950000000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
71000000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
75000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
145000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
150000000
CY2021Q2 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
16000000
CY2020Q2 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
14000000
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
34000000
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
28000000
CY2021Q2 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
5000000
CY2020Q2 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
0
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
5000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
694000000
CY2021Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
13000000
CY2020Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4000000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
20000000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
25000000
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
CY2020Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
63000000
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
0
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2021Q2 us-gaap Interest Expense
InterestExpense
66000000
CY2020Q2 us-gaap Interest Expense
InterestExpense
50000000
us-gaap Interest Expense
InterestExpense
129000000
us-gaap Interest Expense
InterestExpense
90000000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2000000
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-8000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-9000000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
CY2021Q2 us-gaap Severance Costs1
SeveranceCosts1
0
CY2020Q2 us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
-2000000
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000000
CY2021Q2 pk Other Items
OtherItems
1000000
CY2020Q2 pk Other Items
OtherItems
-3000000
pk Other Items
OtherItems
5000000
pk Other Items
OtherItems
-6000000
CY2021Q2 pk Adjusted Ebitda
AdjustedEbitda
42000000
CY2020Q2 pk Adjusted Ebitda
AdjustedEbitda
-108000000
pk Adjusted Ebitda
AdjustedEbitda
6000000
pk Adjusted Ebitda
AdjustedEbitda
-17000000
CY2021Q2 us-gaap Assets
Assets
10266000000
CY2020Q4 us-gaap Assets
Assets
10587000000
CY2021Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
55000000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1

Files In Submission

Name View Source Status
0000950170-21-001013-index-headers.html Edgar Link pending
0000950170-21-001013-index.html Edgar Link pending
0000950170-21-001013.txt Edgar Link pending
0000950170-21-001013-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pk-20210630.htm Edgar Link pending
pk-20210630.xsd Edgar Link pending
pk-20210630ex31_1.htm Edgar Link pending
pk-20210630ex31_2.htm Edgar Link pending
pk-20210630ex32_1.htm Edgar Link pending
pk-20210630ex32_2.htm Edgar Link pending
pk-20210630_cal.xml Edgar Link unprocessable
pk-20210630_def.xml Edgar Link unprocessable
pk-20210630_htm.xml Edgar Link completed
pk-20210630_lab.xml Edgar Link unprocessable
pk-20210630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending