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Added to YB: 2026-06-26

Pitch date: 2026-06-24

PRKS [bullish]

United Parks & Resorts Inc.

Author Info

Warden Capital is a real estate oriented investment firm sharing musings on public and private commercial real estate markets. Sign up for the newsletter.

Company Info

United Parks & Resorts Inc., together with its subsidiaries, operates as a theme park and entertainment company in the United States.

Market Cap

$2.2B

Pitch Price

N/A

Price Target

N/A

Dividend

N/A

EV/EBITDA

8.20

P/E

16.52

EV/Sales

2.74

Sector

Hotels, Restaurants and Leisure

Category

value

Show full summary:
On United Parks and Resorts - $PRKS

PRKS: Seaworld/Busch Gardens owner at ~$46, 8x EV/EBITDA, ~11.85% implied cap rate, ~9.3% AFFO yield, below ~$7-8B replacement cost. Hill Path owns 57%, plowing ~100% FCF into buybacks; ~45% short interest vs near-zero effective float = squeeze powder keg. Pass sales +12% YoY through April. Q2 catalyst. Manageable recession risk; asymmetric upside.

Read full article (16 min)