Park Hotels & Resorts

Park Hotels & Resorts, Inc. operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio. The company was founded by Conrad Hilton in 1919 and is headquartered in Tysons, VA.

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Park Hotels & Resorts excels in 2022, eyes growth in RevPAR and operational efficiency

Park Hotels & Resorts' 2022 performance demonstrated resilience and strategic focus, with a strong balance sheet and guidance for growth in 2023. While challenges exist in certain markets, opportunities for improvement through asset management and operational enhancements are on the horizon.

Park Hotels & Resorts excels in Q1, eyes group demand growth

Park Hotels & Resorts reported a successful Q1 with strong financial metrics and optimistic outlook for the future. The company is increasing full-year guidance, focusing on group demand, expense management, and capital recycling through asset sales. Despite challenges like capital investments and tax implications, Park Hotels & Resorts remains confident in its recovery and growth strategies.

Park Hotels & Resorts Reports Solid Q2 Performance Amid San Francisco Challenges

Despite challenges in San Francisco and moderated EBITDA expectations, the overall performance was solid, especially in Hawaii. The company is focused on optimizing its portfolio and improving liquidity through asset sales.

Park Hotels & Resorts excels in Q3, eyes strategic growth

Park Hotels & Resorts delivered a solid Q3 performance with improved RevPAR and balance sheet metrics.
The company is focused on cost savings, strategic projects, and reshaping the portfolio for enhanced shareholder value.
Opportunities lie in acquisitions, market growth, and strong demand in key markets like Hawaii and New York.
Challenges include managing exposure in specific markets and reducing leverage to target levels for financial stability.

Park Hotels & Resorts excels in Q4, eyes robust 2024 growth

Park Hotels & Resorts had a strong Q4 2023, with positive outlook for 2024. The company's balance sheet is healthy, and it aims for continued growth through strategic investments and returning capital to shareholders.

Park Hotels & Resorts excels in Q1, eyes strategic growth

Park Hotels & Resorts reported a robust Q1 performance with revenue growth driven by strong group demand and strategic investments.
The company's focus on cost management, portfolio optimization, and revenue diversification positions it well for sustained growth and value creation.
Challenges include managing renovation impacts, labor costs, and asset sales alignment, while opportunities lie in leveraging market trends and portfolio reshaping.
Overall, Park Hotels & Resorts remains optimistic about sustained growth, supported by positive outlook, increased guidance, and ongoing operational enhancements.

Park Hotels & Resorts reports strong Q2 performance and eyes growth opportunities

Park Hotels & Resorts had a productive quarter, focusing on balance sheet improvements, capital allocation, and strong performance in key markets. Despite challenges like renovation disruptions and weaker inbound travel, the company maintains a positive outlook with strategic growth plans and asset management strategies.

Park Hotels & Resorts reports solid Q3 performance and growth opportunities

Park Hotels & Resorts demonstrated resilience amidst disruptions, focusing on growth opportunities and strategic asset management.
Challenges from natural disasters and labor strikes were mitigated by strong performance in key markets and proactive portfolio reshaping.
With a solid foundation and growth initiatives in place, Park Hotels & Resorts is poised for continued success and value creation.

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TYSONS, Va., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a fourth quarter dividend of $0.93 per share of common stock which includes Park's regular quarterly dividend of $0.15 coupled with a $0.78 top off dividend based on 2023 operating results. The dividend, as well as the previously announced special cash dividend of $0.77 per share of common stock, will be paid in cash on January 16, 2024 to stockholders of record as of December 29, 2023.

Park Hotels & Resorts Inc. Announces Fourth Quarter Dividend of $0.93 Per Share

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TYSONS, Va., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that it has been named the 2023 Leader in the Light recipient in recognition of its sustainability practices within the lodging and resorts sector by the National Association of Real Estate Investment Trusts (“Nareit”). This is the second consecutive year that Park has received this honor.

Park Hotels & Resorts Inc. Awarded Nareit's 2023 Leader in the Light Award for its Sustainability Practices

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Park Hotels & Resorts Inc. (NYSE:PK ) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Ian Weissman - Senior Vice President, Corporate Strategy Tom Baltimore - Chairman & Chief Executive Officer Sean Dell'Orto - Chief Financial Officer Conference Call Participants Floris van Dijkum - Compass Point Smedes Rose - Citi Duane Pfennigwerth - Evercore ISI Dany Asad - Bank of America Bill Crow - Raymond James Dori Kesten - Wells Fargo Ari Klein - BMO Capital Markets Anthony Powell - Barclays Jay Kornreich - Wedbush Chris Woronka - Deutsche Bank Chris Darling - Green Street Operator Greetings, and welcome to the Park Hotels & Resorts Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Park Hotels & Resorts Inc. (PK) Q3 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Park Hotels & Resorts (PK) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Here's What Key Metrics Tell Us About Park Hotels & Resorts (PK) Q3 Earnings

TYSONS, Va., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the third quarter ended September 30, 2023, a special dividend and provided an operational update.

Park Hotels & Resorts Inc. Reports Third Quarter 2023 Results and Announces Special Dividend of $0.77 Per Share

TYSONS, Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the trustee under the $725 million non-recourse CMBS loan (“Loan”), by and through its special servicer, filed a lawsuit against the borrower entities related to the cessation of payments on the Loan. In connection with the lawsuit, the trustee requested the appointment of a receiver to take control of the hotels securing the Loan – the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco. Once appointed by the court, the receiver will have complete and exclusive control and possession of the hotels and will maintain Hilton and its workforce to manage the ongoing operations at the hotels. In addition, if appointed by the court on the terms stipulated between the special servicer and the borrowers, the receiver will have the ability to market the hotels for sale and have until September 1, 2024 to consummate a transaction, subject to a 60-day extension if the hotels are under contract by September 1, 2024. As further stipulated between the special servicer and borrowers, if the hotels are not sold within the predetermined sale period then the receiver will no longer have the authority to sell the hotels and the receivership will end with a non-judicial foreclosure. The Company anticipates appointment of a receiver will occur within the next few business days.

Park Hotels & Resorts Inc. Announces Lawsuit Related to $725 Million Non-Recourse CMBS Loan Secured By Two of its San Francisco Hotels

Park Hotels & Resorts Inc. looks undervalued and is gaining operational momentum. The REIT's second-quarter financial results show growth in revenue per available room and occupancy, indicating increasing demand. Our valuation model suggests value is in store. Moreover, the REIT's dividend profile seems solid.

Park Hotels & Resorts: Things Are Looking Up

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Their urban hotels in San Francisco and New York face a bleak future. The latest results for their New York Hilton hotel are artificially high because of the housing of immigrants at competitor hotels. Their current dividend yield is not attractive compared to alternative investments.

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TYSONS, Va., Sept. 13, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the third quarter 2023 after the stock market closes on November 1, 2023. Park will hold a conference call on Thursday, November 2, 2023, at 10:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.

Park Hotels & Resorts Inc. Announces Third Quarter 2023 Earnings Conference Call On November 2, 2023

TYSONS, Va., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a third quarter cash dividend of $0.15 per share of common stock. The dividend will be paid in cash on October 16, 2023 to stockholders of record as of September 29, 2023.

Park Hotels & Resorts Inc. Announces Third Quarter Dividend of $0.15 Per Share

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Park Hotels & Resorts is an attractive REIT with high dividend yield. The company's fundamentals are improving, with revenues almost back to pre-pandemic levels. The stock seems undervalued, trading at a deep discount to NAV, making it an attractive investment opportunity despite some significant risks.

Park Hotels & Resorts Is A Risky Buy

Park Hotels & Resorts stock has a potential upside of 60% to my NAV estimate, and despite a lack of immediate catalyst, shares should eventually trade up to that level. San Francisco exposure was a concern for the company due to economic and social issues in the city, but the company is now offloading its troubled assets. Focusing on Hawaii resorts and urban properties in the rest of the US appears to be a good decision that could help the stock's re-rating.

Park Hotels & Resorts: San Francisco Headwinds Overshadowing Strong Recovery

Park Hotels & Resorts Inc. (NYSE:PK ) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Ian Weissman - SVP, Corporate Strategy Tom Baltimore - Chairman and CEO Sean Dell'Orto - CFO Conference Call Participants Floris Van Dijkum - Compass Point Smedes Rose - Citi Ari Klein - BMO Capital Markets Anthony Powell - Barclays Chris Woronka - Deutsche Bank Duane Pfennigwerth - Evercore ISI Bill Crow - Raymond James Dori Kesten - Wells Fargo Robin Farley - UBS David Katz - Jefferies Gregory Miller - Truist Securities Chris Darling - Green Street Operator Greetings and welcome to the Park Hotels & Resorts Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note this conference is being recorded.

Park Hotels & Resorts Inc. (PK) Q2 2023 Earnings Call Transcript

The headline numbers for Park Hotels & Resorts (PK) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Park Hotels & Resorts (PK) Reports Q2 Earnings: What Key Metrics Have to Say

Park Hotels & Resorts (PK) came out with quarterly funds from operations (FFO) of $0.60 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.61 per share a year ago.

Park Hotels & Resorts (PK) Meets Q2 FFO Estimates

TYSONS, Va., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the second quarter ended June 30, 2023 and provided an operational update.

News for Park Hotels & Resorts Stock (PK)