Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
IPO Year: 2016
Exchange: NYSE
Website: pkhotelsandresorts.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
5/15/2024 | $20.00 | In-line → Outperform | Evercore ISI |
3/22/2024 | $14.00 → $20.00 | Neutral → Buy | Citigroup |
1/2/2024 | $14.00 → $21.00 | Hold → Buy | Jefferies |
12/14/2023 | $11.00 → $16.00 | Underweight → Neutral | JP Morgan |
11/6/2023 | $16.00 → $19.00 | Equal Weight → Overweight | Barclays |
10/23/2023 | $13.00 | Hold | HSBC Securities |
10/3/2023 | $13.00 | Neutral | Wedbush |
9/28/2023 | $16.00 | Outperform | Wolfe Research |
6/9/2023 | $18.50 | Outperform → In-line | Evercore ISI |
3/30/2023 | $17.00 → $12.50 | Overweight → Equal Weight | Wells Fargo |
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
4 - Park Hotels & Resorts Inc. (0001617406) (Issuer)
TYSONS, Va., July 31, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE:PK) today announced results for the second quarter ended June 30, 2024 and provided an operational update. Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 Change(1) 2024 2023 Change(1)Comparable RevPAR$194.90 $191.03 2.0% $185.28 $177.05 4.6%Comparable Occupancy 77.1% 77.0% 0.1% pts 74.0% 72.2% 1.8% ptsComparable ADR$252.90 $248.33 1.8% $250.51 $245.38 2.1% Comparable Total RevPAR$311.32 $301.74
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. The conference call will be accessible by telephone and through the internet. Interested individuals are invited to participate by following these steps: Telephone:Please dial (877) 451-6152, or (201) 389-0879 for international participants, and request Park Hotels & Resorts'
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"). On May 16, 2024, the Issuers
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
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. The Issuers intend to use the net proceeds o
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. Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) Three Months Ended March 31, 2024 2023 Change(1)Comparable RevPAR$175.65 $162.91 7.8%Comparable Occupancy 70.9% 67.4% 3.5% ptsComparable ADR$247.91 $241.96 2.5% Comparable Total RevPAR$289.68 $271.73 6.6% Net income(2)$29 $33 (12.1)%Net income attributable to stockholders(2)$28 $33 (15.2)% Operating income$92 $80 15
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. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements related to the effects of Park's decision to cease payments on its $725 mill
TYSONS, Va., March 18, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE:PK) ("Park") today announced that it plans to report financial results for the first quarter 2024 after the stock market closes on Tuesday, April 30, 2024. Park will hold a conference call on Wednesday, May 1, 2024, at 11:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook. The conference call will be accessible by telephone and through the internet. Interested individuals are invited to participate by following these steps: Telephone:Please dial (877) 451-6152, or (201) 389-0879 for international participants, and request Park Hotels & Resorts'
TYSONS, Va., Feb. 27, 2024 (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, 2023 and provided an operational update. Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) Three Months Ended December 31, Year Ended December 31, 2023 2022 Change(1) 2023 2022 Change(1)Comparable RevPAR$178.25 $171.21 4.1% $178.62 $164.33 8.7%Comparable Occupancy 71.0% 69.5% 1.5%pts 72.7% 67.8% 4.9%ptsComparable ADR$250.93 $246.35 1.9% $245.80 $242.61 1.3% Comparable Total RevPAR$287.21
TYSONS, Va., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE:PK) today provided preliminary fourth quarter and full-year 2023 results. "I am incredibly pleased with our preliminary fourth quarter and year-end results, with both preliminary Comparable RevPAR and Adjusted EBITDA exceeding the midpoint of our previously announced 2023 guidance ranges. Our portfolio continued to deliver impressive results, as business travel accelerated in Boston, Chicago and New York, which helped to drive a near 8% year-over-year preliminary Comparable RevPAR increase for the quarter in our urban portfolio, while leisure demand trends remained strong at our Hawai
Evercore ISI upgraded Park Hotels & Resorts from In-line to Outperform and set a new price target of $20.00
Citigroup upgraded Park Hotels & Resorts from Neutral to Buy and set a new price target of $20.00 from $14.00 previously
Jefferies upgraded Park Hotels & Resorts from Hold to Buy and set a new price target of $21.00 from $14.00 previously
JP Morgan upgraded Park Hotels & Resorts from Underweight to Neutral and set a new price target of $16.00 from $11.00 previously
Barclays upgraded Park Hotels & Resorts from Equal Weight to Overweight and set a new price target of $19.00 from $16.00 previously
HSBC Securities initiated coverage of Park Hotels & Resorts with a rating of Hold and set a new price target of $13.00
Wedbush initiated coverage of Park Hotels & Resorts with a rating of Neutral and set a new price target of $13.00
Wolfe Research initiated coverage of Park Hotels & Resorts with a rating of Outperform and set a new price target of $16.00
Evercore ISI downgraded Park Hotels & Resorts from Outperform to In-line and set a new price target of $18.50
Wells Fargo downgraded Park Hotels & Resorts from Overweight to Equal Weight and set a new price target of $12.50 from $17.00 previously
Truist Securities analyst Patrick Scholes maintains Park Hotels & Resorts (NYSE:PK) with a Buy and lowers the price target from $21 to $20.
Wedbush analyst Richard Anderson reiterates Park Hotels & Resorts (NYSE:PK) with a Neutral and maintains $17 price target.
Barclays analyst Anthony Powell maintains Park Hotels & Resorts (NYSE:PK) with a Overweight and raises the price target from $21 to $22.
During the last three months, 7 analysts shared their evaluations of Park Hotels & Resorts (NYSE:PK), revealing diverse outlooks from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2 2 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 1 0 0 3M Ago 2 1 1 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $20.29, a high estimate of $24.
Evercore ISI Group analyst Richard Hightower upgrades Park Hotels & Resorts (NYSE:PK) from In-Line to Outperform and raises the price target from $19 to $20.
Park Hotels & Resorts (NYSE:PK) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.45 by 15.56 percent. The company reported quarterly sales of $639.000 million which beat the analyst consensus estimate of $629.707 million by 1.48 percent. This is a 1.39 percent decrease over sales of $648.000 million the same period last year.
Citigroup analyst Smedes Rose upgrades Park Hotels & Resorts (NYSE:PK) from Neutral to Buy and raises the price target from $14 to $20.
6 analysts have shared their evaluations of Park Hotels & Resorts (NYSE:PK) during the recent three months, expressing a mix of bullish and bearish perspectives. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 1 2 0 0 Last 30D 0 0 1 0 0 1M Ago 2 1 1 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $20.5, along with a high estimate of $24.00 and a low estimate of $18.00. This current
Wells Fargo analyst Dori Kesten maintains Park Hotels & Resorts (NYSE:PK) with a Equal-Weight and raises the price target from $17 to $18.
10-Q - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
10-Q - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
8-K - Park Hotels & Resorts Inc. (0001617406) (Filer)
DEFA14A - Park Hotels & Resorts Inc. (0001617406) (Filer)
The website includes customer reviews of hotels owned by lodging REIT Park Hotels and Resorts UNITE HERE, the hotel workers union, has launched a website collecting customer reviews of hotels owned by Park Hotels and Resorts (NYSE:PK), one of the largest lodging REITs in the world. The launch of the website comes amidst ongoing strikes across the country, including over 1,250 hotel workers on strike in Boston, New Haven, and San Diego as of September 12. Over Labor Day weekend, over 10,000 hotel workers went on strike for higher wages, fair staffing and workloads, and the reversal of COVID-era cuts. ParkHotelsCapExProblems.org collects TripAdvisor and Yelp reviews of certain Park properti
TYSONS, Va., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE) ("Park") announced today that its two Hawaii hotels—the 2,860-room Hilton Hawaiian Village in Honolulu and the 647-room Hilton Waikoloa Village on the Big Island—sustained no material damage from Hurricane Hone, a Category 1 hurricane that impacted the Hawaiian Islands on Sunday. Both hotels maintained power and uninterrupted services, and continue to welcome guests with all customary services and amenities available. "I want to personally thank our teams on the ground for their hard work and dedication in protecting the properties," commented Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer. "I
Historical Q-2 Revenue Comparison Highlights Significant Growth HOUSTON, TX / ACCESSWIRE / August 26, 2024 / Camber Energy, Inc. (OTC:PK) ("Camber" or the "Company") filed on August 26, 2024 its quarterly report on Form 10-Q for the quarter ended 6/30/2024 and is pleased to share a comparison of revenues reported in Q-2 2024 versus revenues reported by the Company in Q-2 for the preceding three years.Q-2 Historical Reported Revenue Comparison: Revenues for Q-2 2024 were derived primarily from the Company's power solutions' business, including from the design, sale and/or service of power generation units and systems.2024 Q-2 versus Q-1 Comparison:Revenues for the quarter ended 6
TYSONS, Va., July 31, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE:PK) today announced results for the second quarter ended June 30, 2024 and provided an operational update. Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 Change(1) 2024 2023 Change(1)Comparable RevPAR$194.90 $191.03 2.0% $185.28 $177.05 4.6%Comparable Occupancy 77.1% 77.0% 0.1% pts 74.0% 72.2% 1.8% ptsComparable ADR$252.90 $248.33 1.8% $250.51 $245.38 2.1% Comparable Total RevPAR$311.32 $301.74
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. The conference call will be accessible by telephone and through the internet. Interested individuals are invited to participate by following these steps: Telephone:Please dial (877) 451-6152, or (201) 389-0879 for international participants, and request Park Hotels & Resorts'
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"). On May 16, 2024, the Issuers
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 subsidiar
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
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. The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on May 13, 2024 (the "Expiration Time"), unless e
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. The Issuers intend to use the net proceeds o
TYSONS, Va., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE:PK) ("Park") today announced the appointment of Terri D. McClements as a new independent director to its Board of Directors (the "Board"), effective immediately. With Ms. McClements' appointment to the Board, the Board now has ten members, nine of whom are independent. Ms. McClements is a seasoned business leader, having spent her career in accounting, operational and executive leadership roles. Ms. McClements, a licensed certified public accountant, retired in 2023 as a partner with PricewaterhouseCoopers LLP ("PwC") where she spent over three decades in various roles. Most recently, Ms. McClements served as
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
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