Park Hotels & Resorts Inc
PK
ISIN US7005171050 / Valor 34891343
Park Hotels & Resorts Inc
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About company
Park Hotels & Resorts Inc is a prominent lodging real estate investment trust with a varied portfolio of well-known hotels and resorts in prime U.S. and international markets. The company focuses on owning and operating high-quality properties in key locations, catering to both leisure and business travelers. With a strong presence in the hospitality industry, Park Hotels & Resorts Inc continues to expand its portfolio and deliver value to its shareholders through strategic investments and operational excellence.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.08.2024):
Revenue Growth
Park Hotels & Resorts Inc. reported a 2.0% increase in Comparable RevPAR for the second quarter of 2024, reaching $194.90 compared to $191.03 in the same period of 2023. This growth was driven by strong group and leisure demand trends at their hotels in key markets such as Boston, Miami, and New York.
Net Income Improvement
For the second quarter of 2024, Park Hotels & Resorts Inc. achieved a significant turnaround in net income, reporting $67 million compared to a net loss of $146 million in the second quarter of 2023. This represents a 145.9% improvement year-over-year.
Adjusted EBITDA
Park Hotels & Resorts Inc. saw a 3.2% increase in Adjusted EBITDA for the second quarter of 2024, reaching $193 million compared to $187 million in the same period of the previous year. This improvement reflects the company's effective cost management and operational efficiencies.
Dividends
In July 2024, Park Hotels & Resorts Inc. declared a third quarter cash dividend of $0.25 per share, to be paid on October 15, 2024, to stockholders of record as of September 30, 2024. This follows the second quarter dividend of $0.25 per share paid in July 2024.
Operational Highlights
During the second quarter of 2024, Park Hotels & Resorts Inc. continued to execute its capital allocation strategies, including the refinancing of $650 million of senior notes due in June 2025 and repurchasing nearly 1.7 million shares of common stock for $25 million. These actions are part of the company's efforts to strengthen its balance sheet and enhance shareholder value.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3108 M
Market cap (USD)
250,162
Daily traded volume (Shares)
15.085 / 14.85
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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