Park Hotels Q1 net income $33M, RevPAR up 36.5%; dividend raised to $0.15

Park Hotels & Resorts Inc.

2023-Q1 EPS reported $0.15 revenue$648,000,000

Comparable RevPAR $158.84 (+36.5% YoY); net income $33M vs loss $56M in prior year.
Adjusted FFO per share $0.42 vs $0.08; recurring quarterly dividend raised to $0.15.
Repurchased 8.8M shares for ~$105M at avg price $11.84 per share.
Sold Hilton Miami Airport for $118.25M; used $50M to fully repay revolver balance.
Full-year 2023 outlook: RevPAR $167-$179; Adj. EBITDA $624-$704M; EPS $0.47-$0.82.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Park Hotels & Resorts Inc. reported the first quarter ended March 31, 2023 results: net income $33, EPS $0.15.

Period: the first quarter ended March 31, 2023
Net income: $33
EPS: $0.15
Result: reported results

Exact text from the filing

Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the first quarter ended March 31, 2023 and provided an operational update.

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Source: SEC EDGAR

accession 0000950170-23-016008

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