Park Hotels & Resorts Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

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...

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.

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.

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.

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.

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) 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 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%.

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.

Real Estate Investment Trusts (REITs) are companies that own, operate or finance real estate properties. They offer investors the opportunity to gain exposure to the real estate market without the upfront investment of purchasing a property.

Hotel REITs experienced a significant drop in share value during the COVID-19 pandemic but have since recovered and outperformed the Vanguard Real Estate ETF. Consumer spending is shifting towards services like travel and leisure, which bodes well for Hotel REITs. Hotel REITs have posted the fourth-best total returns among REIT sectors in 2024, indicating their potential for future growth.

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While the top- and bottom-line numbers for Park Hotels & Resorts (PK) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Park Hotels & Resorts' (PK) preliminary fourth-quarter and full-year 2023 results showcase impressive performance.