Park Hotels Q1 2022 net loss narrows to $57M; RevPAR up 182% YoY; Q2 guidance issued

Park Hotels & Resorts Inc.

2022-Q1 EPS reported -$0.24 revenue$479,000,000

Net loss of $57M (diluted EPS -$0.24) vs -$190M YoY; Adjusted EBITDA of $82M vs -$49M YoY.
Pro-forma RevPAR $116.42 (+181.7% YoY); occupancy 51.9% vs 26.6%; ADR $224.42 (+44.2%).
Repurchased 3.4M shares for $61M at avg $17.99; reinstated quarterly dividend at $0.01/share.
Q2 2022 outlook: RevPAR $160-$164; Adj. EBITDA $160-$180M; Adj. FFO per share $0.40-$0.49.
Moody's upgraded outlook to Stable; reopened Hilton Short Hills; Parc 55 SF reopening May 19.

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