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.

Earnings data Q1 2021

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

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., June 12, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the second quarter 2023 after the stock market closes on August 2, 2023. Park will hold a conference call on Thursday, August 3, 2023, at 11:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.

Park Hotels & Resorts Inc. Announces Second Quarter 2023 Earnings Conference Call on August 3, 2023

TYSONS, Va., June 08, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a second quarter cash dividend of $0.15 per share of common stock. The dividend will be paid in cash on July 17, 2023 to stockholders of record as of June 30, 2023.

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

Shares of Park Hotels & Resorts Inc. PK, +5.77% fell 0.7% in premarket trading Monday after the lodging real estate investment trust (REIT) said it made the “very difficult, but necessary” decision to stop payments on its $725 million commercial mortgage-backed security (CMBS) loan secured by two of its San Francisco hotels. The REIT said it plans to work with the loan's servicers to determine the best path, which is expected to be the eventual removal of the hotels from its portfolio.

Park Hotels & Resorts makes ‘difficult, but necessary' decision stop payments on San Francisco CMBS loan

TYSONS, Va., June 05, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that, starting in June, it ceased making payments toward the $725 million non-recourse CMBS loan which is scheduled to mature in November 2023, and is secured by two of its San Francisco hotels—the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco. The Company intends to work in good faith with the loan's servicers to determine the most effective path forward, which is expected to result in ultimate removal of these hotels from its portfolio.

Park Hotels & Resorts Inc. Announces Cessation of Payment on $725 Million Non-Recourse CMBS Loan Secured By Two of Its San Francisco Hotels

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Despite lingering recession concerns, hotel REITs are pacing for a second-straight year of outperformance after punishing early-pandemic declines, buoyed by steady post-pandemic operating improvement and the long-awaited return of dividends. The final pandemic-era travel restrictions were lifted last week with the ending of the vaccine mandate for foreign arrivals. International travel demand should provide a healthy tailwind over the coming quarters.

Hotel REITs: Pandemic Is Officially Over

The company had a stellar first quarter to 2023, reporting impressive earnings. A sustainable forward dividend yield of 4.4%, which has significant room for increment.

Park Hotels & Resorts: Strong Q1 Results, Undervaluation Remains

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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Park Hotels & Resorts (PK) Stock Undervalued Right Now?

While the COVID-19 crisis imposed an unprecedented headwind against the broader travel industry, optimistically aligned rumblings in the derivates market for Park Hotels & Resorts (US:PK) may bode well not just for the underlying enterprise but the sector at large.

Why Unusual Options Volume for Park Hotels & Resorts Intrigues Onlookers

The mean of analysts' price targets for Park Hotels & Resorts (PK) points to a 25.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe Park Hotels & Resorts (PK) Could Rally 25.89%: Here's is How to Trade

Park Hotels & Resorts Inc. (NYSE:PK ) Q1 2023 Earnings Conference Call May 1, 2023 11:00 AM ET Company Participants Ian C. Weissman - SVP, Corporate Strategy Thomas J.

Park Hotels & Resorts Inc. (PK) Q1 2023 Earnings Call Transcript

Park Hotels & Resorts (PK) came out with quarterly funds from operations (FFO) of $0.42 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to FFO of $0.08 per share a year ago.

Park Hotels & Resorts (PK) Tops Q1 FFO and Revenue Estimates

TYSONS, Va., May 01, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the first quarter ended March 31, 2023 and provided an operational update.

Park Hotels & Resorts Inc. Reports First Quarter 2023 Results

TYSONS, Va., March 28, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) is proud to announce that it has received the 2023 ENERGY STAR Partner of the Year Award for Energy Management from the U.S. Environmental Protection Agency (“EPA”) and the U.S. Department of Energy.

Park Hotels & Resorts Inc. Announces 2023 Energy Star® Partner of the Year Award

TYSONS, Va., March 23, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the first quarter 2023 before the stock market opens on May 1, 2023. Park will hold a conference call later that morning at 11:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.

Park Hotels & Resorts Inc. Announces First Quarter 2023 Earnings Conference Call on May 1, 2023

Is Park Hotels & Resorts (PK) a Great Value Stock Right Now?

The hotel industry has survived the pandemic and, after a disastrous 2020/2021, robust travel recovery has allowed earnings to bounce back in 2022. Park Hotels & Resorts trades at a large discount to various NAV estimates and despite recession fears I see the REIT as a potential takeover target if the current discount persists.

Park Hotels & Resorts: Buy Into The Disconnect Between Market Value And NAV

TYSONS, Va., March 15, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a first quarter cash dividend of $0.15 per share of common stock. The dividend will be paid in cash on April 17, 2023 to stockholders of record as of March 31, 2023.

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

Park Hotels & Resorts is a hospitality REIT focused on the luxury and full-service segment with a strong balance sheet. Forward dividend yield of 4.3%, with room for further growth.

Park Hotels & Resorts: Growing Dividends; Value Play

Park Hotels & Resorts Inc. (NYSE:PK ) Q4 2022 Earnings Conference Call February 23, 2023 11:00 AM ET Company Participants Ian Weissman - Senior Vice President, Corporate Strategy Tom Baltimore - Chairman, President and Chief Executive Officer Sean Dell'Orto - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Floris Van Dijkum - Compass Point Duane Pfennigwerth - Evercore ISI Anthony Powell - Barclays Smedes Rose - Citi Patrick Scholes - Truist Securities Aryeh Klein - BMO Capital Markets Chris Woronka - Deutsche Bank David Katz - Jefferies Robin Farley - UBS Bill Crow - Raymond James Jay Kornreich - SMBC Operator Greetings. Welcome to the Park Hotels & Resorts Inc. Fourth Quarter 2022 Earnings Conference Call.

Park Hotels & Resorts Inc. (PK) Q4 2022 Earnings Call Transcript

Park Hotels & Resorts (PK) delivered FFO and revenue surprises of 9.76% and 1.90%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Park Hotels & Resorts (PK) Q4 FFO and Revenues Beat Estimates

TYSONS, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the fourth quarter and full year ended December 31, 2022 and provided an operational update.

Park Hotels & Resorts Inc. Reports Fourth Quarter and Full Year 2022 Results

Park Hotels & Resorts (PK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy Park Hotels & Resorts (PK) Ahead of Earnings?

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TYSONS, Va., Feb. 02, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that it has closed on the sale of the 508-room Hilton Miami Airport located in Miami, FL for $118.25 million, or $233,000 per key. When adjusted for Park's anticipated capital expenditures (“capex”), the sale price represents a 6.2% capitalization rate on 2019 net operating income (7.9% excluding capex), or 14.0x 2019 EBITDA (11.1x excluding capex). Proceeds from the sale will be used to pay off the outstanding $50 million revolver balance and for general corporate purposes.

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