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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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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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.

Park Hotels & Resorts Inc. Announces Sale of Hilton Miami Airport

Park Hotels & Resorts is seeing a strong recovery in hotel operating fundamentals, driven by increasing travel demand. Management has done a good job of deleveraging the balance sheet and reinstating a meaningful dividend.

Park Hotels: I'm Betting On A Rebound With This 7% Yield

TYSONS, Va., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park”) (NYSE:PK) (“Park” or the “Company”) announced today the tax reporting information for its 2022 cash distributions on its common stock.

Park Hotels & Resorts Inc. Announces Tax Treatment of 2022 Dividends

TYSONS, Va., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the fourth quarter and full year 2022 after the stock market closes on February 22, 2023. Park will hold a conference call on Thursday, February 23, 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 Fourth Quarter and Full Year 2022 Earnings Conference Call on February 23, 2023

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TYSONS, Va., Dec. 22, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today provided an update on fourth quarter operating trends and the Company's capital allocation activity.

Park Hotels & Resorts Inc. Provides Update on Recent Operating Trends and Capital Allocation Activity

TYSONS, Va., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a fourth quarter cash dividend of $0.25 per share of common stock. The dividend will be paid in cash on January 17, 2023 to holders of record as of December 30, 2022. Of the full $0.25 per share dividend, $0.12 per share represents the fourth quarter payment based on 2022 results of operations, while the remaining $0.13 per share is attributable to gains from the sale of Park's assets during 2022.

Park Hotels & Resorts Inc. Announces Fourth Quarter Dividend of $0.25 Per Share

TYSONS, Va., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park”) (NYSE:PK) today announced that it has successfully amended and restated its existing $901 million revolving credit facility to increase total capacity to $950 million, extend the maturity from December 2023 to December 2026, and release all collateral securing the credit facility (and its senior notes) consisting of pledges of equity interests in Park-affiliated entities owning certain unencumbered assets (as modified, the “Credit Facility”).

Park Hotels & Resorts Inc. Completes Upsize of Revolving Credit Facility to $950 Million and Extends Maturity to 2026

Park Hotels & Resorts is paying a minimal and rather symbolic dividend, which allows it to retain quite a bit of cash. The debt level does not concern me too much given the robust LTV ratios and the staggered maturity dates.

Park Hotels & Resorts: The Balance Sheet Doesn't Concern Me

Park Hotels & Resorts Inc. (NYSE:PK ) Q3 2022 Earnings Conference Call November 3, 2022 11:00 PM ET Company Participants Ian Weissman - Senior Vice President of Corporate Strategy Tom Baltimore - Chairman & Chief Executive Officer Sean Dell'Orto - Chief Financial Officer Conference Call Participants Smedes Rose - Citi Dany Asad - Bank of America Dori Kesten - Wells Fargo Anthony Powell - Barclays Duane Pfennigwerth - Evercore ISI Chris Woronka - Deutsche Bank Neil Malkin - Capital One Securities Robin Farley - UBS Patrick Scholes - Truist Bill Crow - Raymond James Jay Kornreich - SMBC Chris Darling - Green Street Operator Ladies and gentlemen, greetings and welcome to the Park Hotels & Resorts Inc. Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Park Hotels & Resorts Inc. (PK) Q3 2022 Earnings Call Transcript

Park Hotels & Resorts (PK) delivered FFO and revenue surprises of 5% and 1.59%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Park Hotels & Resorts (PK) Q3 FFO and Revenues Surpass Estimates

TYSONS, Va., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the third quarter ended September 30, 2022 and provided an operational update.

Park Hotels & Resorts Inc. Reports Third Quarter 2022 Results

Park Hotels & Resorts (PK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Park Hotels & Resorts (PK) Moves to Buy: Rationale Behind the Upgrade

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Lodging REITs like Host Hotels & Resorts (HST), Pebblebrook Hotel Trust (PEB) and Park Hotels & Resorts (PK) are set to gain from the recovery of the hotel industry and the upcoming holiday season.

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TYSONS, Va., Sept. 09, 2022 (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 $0.01 per share of common stock. The dividend will be paid in cash on October 17, 2022 to stockholders of record as of September 30, 2022.

Park Hotels & Resorts Announces Third Quarter Dividend of $0.01 Per Share

Park Hotels & Resorts' financial position has greatly improved since the corona crisis. I give Park Hotels & Resorts a sell rating because of the large amount of debt on their balance sheet.

Park Hotels & Resorts: No Expansion Possible Due To Their Large Debt Problem

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TYSONS, Va., Aug. 30, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the third quarter 2022 after the stock market closes on November 2, 2022. Park will hold a conference call on Thursday, November 3, 2022 at 11:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.

Park Hotels & Resorts Inc. Announces Third Quarter 2022 Earnings Conference Call on November 3, 2022

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