earnings
confidence high
sentiment negative
materiality 0.70
Park Hotels Q3 net loss $86M, Adj. EBITDA $77M; RevPAR up 302% YoY
Park Hotels & Resorts Inc.
2021-Q3 EPS reported
-$1.66
revenue$911,000,000
- Net loss attributable to stockholders $86M ($0.36 diluted loss); Adjusted FFO $5M ($0.02).
- Pro-forma RevPAR $105.48 (+302% YoY, -43% vs Q3 2019); occupancy 51.3% (58% for 45 open hotels).
- Completed $304M in hotel sales in Q3; 2021 total $477M, exceeding $300-400M target.
- Repaid $419M of term loan, fully repaid revolver; remaining term loan $78M; liquidity $1.8B.
- Reopened NY Hilton Midtown; only two hotels suspended; no 2021 guidance issued.