Aegis Value Fund on Park Hotels & Resorts Inc.
Thesis
Aegis initiated Park Hotels & Resorts as part of a broader hotel REIT opportunity. The fund believes hotel REITs were trading at steep discounts to replacement cost ahead of a favorable 2026 demand calendar. Limited hotel supply growth in recent years provides additional support to industry fundamentals. The thesis is therefore centered on discounted real-estate value and improving demand conditions.
“initiated a new position in Park Hotels & Resorts (PK)”