Park Hotels beats preliminary Q4 2023 and full-year 2023 guidance; Adj. EBITDA tops midpoint

Park Hotels & Resorts Inc.

2023-FY EPS reported $0.44 revenue$2,698,000,000

Preliminary Q4 Comparable RevPAR $178.25 (+4.1% YoY); full-year $178.62 (+8.7% YoY).
Full-year Adjusted EBITDA $659M vs. guidance midpoint $656M; Adjusted FFO per share $2.05 vs. $1.97.
Net income attributable to stockholders Q4 $188M (+452.9% YoY); full-year $98M (-39.5% YoY).
Urban portfolio Q4 RevPAR up ~8% YoY; Hawaii resorts combined Q4 RevPAR up >8% YoY.
Company plans 2024 non-core asset sales to improve balance sheet and reinvest in renovations.

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 preliminary financial results for quarter and year ended December 31, 2023.

Period: quarter and year ended December 31, 2023
Result: preliminary results

Exact text from the filing

issued a press release announcing preliminary results for the quarter and year ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this report. The press release is based on preliminary estimates of certain operating results for the three months and year ended December 31, 2023. The Company currently intends to release its finalized year-end earnings results after the market closes on February 27, 2024, and management will hold a conference call to discuss the results at 11 a.m. Eastern Time on February 28, 2024.

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Source: SEC EDGAR

accession 0001617406-24-000004

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