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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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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Are Investors Undervaluing Park Hotels & Resorts (PK) Right Now?

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TYSONS, Va., June 11, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park”) (NYSE: PK) today announced that it plans to report financial results for the second quarter 2024 after the stock market closes on Wednesday, July 31, 2024. Park will hold a conference call on Thursday, August 1, 2024, at 12:00 p.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.

Park Hotels & Resorts Announces Second Quarter 2024 Earnings Conference Call on August 1, 2024

Given its robust fundamental growth and aligned valuation, we maintain our buy rating on Park Hotels & Resorts Inc. PK REIT's latest results show illustrious unitary growth. Moreover, a spread between asset-level returns and liability costs is encouraging. Despite the high cost, a solid development pipeline and unit upgrades could add value.

Park Hotels & Resorts: Asymmetrical Returns In The Cards

Park Hotels & Resorts is a hotel REIT, generating a significant portion of its revenue from the Hawaii and Orlando markets. The market outlook is overall positive and the management has guided for a higher range of FFO per share and adjusted EBITDA this year. This is a conservatively financed business with strong liquidity, but more importantly, the dividend appears to be well-covered and the shares undervalued.

Park Hotels & Resorts: Well-Covered Dividend And Undervalued Shares

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TYSONS, Va., May 16, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park”) (NYSE: PK) announced today the expiration of and the final results for the previously announced offer to purchase for cash (the “Tender Offer”) commenced by Park's subsidiaries, Park Intermediate Holdings LLC, a Delaware limited liability (the “Company”), PK Domestic Property LLC, a Delaware limited liability company, and PK Finance Co-Issuer Inc., a Delaware corporation (collectively, the “Issuers”), for any and all of their outstanding 7.500% Senior Notes due 2025 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on May 13, 2024 (the “Expiration Time”).

Park Hotels & Resorts Announces Final Results of Tender Offer

TYSONS, Va., May 16, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) announced today that certain of its subsidiaries, Park Intermediate Holdings LLC (the “Operating Company”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (together with the Operating Company and PK Domestic LLC, the “Issuers”), completed the previously announced offering of $550 million aggregate principal amount of 7.000% senior notes due 2030 (the “Notes”). The Notes will pay interest semi-annually in arrears, at a rate of 7.000% per year, and will mature on February 1, 2030. The Notes are guaranteed by Park, PK Domestic REIT Inc. and certain subsidiaries of the Operating Company that guarantee the Company's credit agreement and existing senior notes due 2025, 2028, and 2029.

Park Hotels & Resorts Inc Announces Closing of $550 Million of 7.000% Senior Notes Due 2030

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TYSONS, Va., May 02, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) announced today that certain of its subsidiaries, Park Intermediate Holdings LLC (the “Operating Company”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (together with the Operating Company and PK Domestic LLC, the “Issuers”), priced an offering of $550 million aggregate principal amount of 7.000% senior notes due 2030 (the “Notes”) at a price equal to 100% of face value. The Notes will pay interest semi-annually in arrears, at a rate of 7.000% per year, and will mature on February 1, 2030. The Notes will be guaranteed by Park, PK Domestic REIT Inc. and certain subsidiaries of the Operating Company that guarantee the Company's senior credit facilities and existing senior notes.

Park Hotels & Resorts Inc. Announces Upsizing and Pricing of Senior Notes Offering

TYSONS, Va., May 02, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park”) (NYSE: PK) announced today that its subsidiaries, Park Intermediate Holdings LLC, a Delaware limited liability (the “Company”), PK Domestic Property LLC, a Delaware limited liability company, and PK Finance Co-Issuer Inc., a Delaware corporation (collectively, the “Issuers”), commenced a tender offer to purchase for cash (the “Tender Offer”), subject to certain terms and conditions, any and all of their outstanding 7.500% Senior Notes due 2025 (the “Notes”), at the price set forth below.

Park Hotels & Resorts Inc. Announces Tender Offer for Any and All of Its 7.500% Senior Notes Due 2025

TYSONS, Va., May 02, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) announced today that certain of its subsidiaries, Park Intermediate Holdings LLC (the “Operating Company”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (together with the Operating Company and PK Domestic LLC, the “Issuers”), intend to offer $450 million aggregate principal amount of senior notes due 2030 (the “Notes”). The Notes will be guaranteed by Park, PK Domestic REIT Inc. and certain subsidiaries of the Operating Company that guarantee the Company's senior credit facilities and existing senior notes.

Park Hotels & Resorts Inc. Announces Senior Notes Offering

Park Hotels & Resorts Inc. (NYSE:PK ) Q1 2024 Results Conference Call May 1, 2024 11:00 AM ET Company Participants Ian Weissman - Senior Vice President, Corporate Strategy Tom Baltimore - Chairman, President & CEO Sean Dell'Orto - Chief Financial Officer & Treasurer Conference Call Participants Floris Van Dijkum - Compass Point Smedes Rose - Citibank Duane Pfennigwerth - Evercore ISI Chris Woronka - Deutsche Bank Anthony Powell - Barclays David Katz - Jefferies Stephen Grambling - Morgan Stanley Bill Crow - Raymond James Dori Kesten - Wells Fargo Jay Kornreich - Wedbush Securities Ryan Lambert - JPMorgan Robin Farley - UBS Operator Greetings, and welcome to Park Hotels and Resorts, Inc. First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Park Hotels & Resorts Inc. (PK) Q1 2024 Earnings Call Transcript

The headline numbers for Park Hotels & Resorts (PK) give insight into how the company performed in the quarter ended March 2024, 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 Q1 Earnings: What Key Metrics Have to Say

Park Hotels & Resorts (PK) came out with quarterly funds from operations (FFO) of $0.52 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to FFO of $0.42 per share a year ago.

Park Hotels & Resorts (PK) Q1 FFO and Revenues Surpass Estimates

TYSONS, Va., April 30, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the first quarter ended March 31, 2024 and provided an operational update.

Park Hotels & Resorts Inc. Reports First Quarter 2024 Results

TYSONS, Va., April 19, 2024 (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 $0.25 per share of common stock. The dividend will be paid in cash on July 15, 2024 to stockholders of record as of June 28, 2024.

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

Park Hotels & Resorts has outperformed the Vanguard Real Estate Index Fund ETF by close to 20% this year. RevPAR grew 4.1% Y/Y in Q4 2023, with a similar increase of about 4.5% projected for 2024. The company's debt is entirely fixed-rate with an average interest rate of 5.24%.

Park Hotels & Resorts: Valuation Appears Stretched After Recent Outperformance

Investors love dividends for a variety of reasons. They provide assurance that a company is financially healthy enough to reward investors.

News for Park Hotels & Resorts Stock (PK)