Park Hotels & Resorts Inc

Latest Results (06.10.2025):

Park Hotels & Resorts Inc. reported strong financial and operational performance for the fourth quarter and full-year ended December 31, 2024. Despite challenges from renovations and strike activity, the company exceeded expectations with significant growth in Comparable RevPAR and successful portfolio management driving overall success.

Comparable RevPAR Growth

For the fourth quarter, Park Hotels & Resorts achieved a Comparable RevPAR increase of over 3% year-over-year, and a full-year growth of 4.2% when adjusting for strike activity. This growth was primarily driven by exceptional performances at the Bonnet Creek and Key West hotels.

Share Repurchases and Dividends

In 2024, Park repurchased 8.0 million shares of its common stock for $116 million at an average price of $14.44 per share. Additionally, the company declared total dividends of $1.40 per share, including a fourth quarter dividend of $0.65 based on 2024 operating results.

Asset Sales and Portfolio Reshaping

The company continued its strategic portfolio reshaping by disposing of three non-core assets in 2024, including the sale of two joint venture hotels for a combined $200 million. Since 2017, Park has sold 45 hotels for over $3 billion, enhancing its focus on core properties.

Capital Investments and Renovations

Park invested nearly $230 million in capital improvements during 2024, including transformative renovations at key properties. Looking ahead, the company plans to invest an additional $100 million in renovating the Royal Palm South Beach Miami and continue guestroom renovations in Hawaii and New Orleans.

Debt Management and Liquidity

As of December 31, 2024, Park maintained liquidity of approximately $1.4 billion, including $950 million under its revolving credit facility. The company issued $550 million in 2030 Senior Notes and a new $200 million term loan in 2024 to refinance existing debt and support general corporate purposes.