earnings
confidence high
sentiment positive
materiality 0.70
Park Hotels Q2 2021 RevPAR $78.46, net loss $116M; break-even in June; $477M asset sales
Park Hotels & Resorts Inc.
2021-Q2 EPS reported
-$1.30
revenue$488,000,000
- Pro-forma RevPAR $78.46 (+909.7% YoY, -59.2% vs. 2019); occupancy 42.3% (55.6% for open hotels).
- Net loss attributable to stockholders $(116)M; diluted loss per share $(0.49).
- Adjusted EBITDA $33M, up from $(49)M in Q1 2021; corporate break-even in June 2021.
- Reopened 4 hotels; 90% of rooms open; 3 hotels remain closed (NY Hilton Midtown, Parc 55, Hilton Short Hills).
- Sold 4 hotels for $477M gross proceeds; issued $750M 2029 senior secured notes; liquidity >$1.8B.