Terri D. McClements
appointed Terri D. McClements to serve as a member of the Board
Highest-materiality recent filing
Park Hotels names CFO Sean Dell'Orto as COO; revamps executive compensation
Sean M. Dell'Orto appointed COO effective Feb 12, 2026, while retaining CFO and Treasurer roles.
Park Hotels plans to sell non-core hotels for $560M-$600M, reaffirms 2025 guidance
Plan to dispose of 16 non-core hotels over next 12+ months; estimated proceeds $560M-$600M.
Park Hotels recasts credit facilities to $2B, adds $800M delayed draw term loan
Total capacity increased to $2B: $1B revolver (extended to Sep 2029), $200M 2024 term loan, and $800M delayed draw term loan.
Park Hotels updates 2025 outlook for Hyatt Centric sale; April RevPAR +1.8%, May -4.4%
Q1 2025 RevPAR -0.9% YoY; Comparable Hotel Adjusted EBITDA margin down 270 bps.
Park Hotels completes redemption of $338.5M 7.5% Senior Notes due 2025
Completed redemption of all $338.5M outstanding principal of 7.500% Senior Notes due 2025.
Park Hotels issues $550M 7.000% notes due 2030 and $200M term loan to refinance 2025 notes
Issued $550M 7.000% senior notes due 2030; also closed $200M unsecured term loan due 2027.
Park Hotels upsizes senior notes offering to $550M at 7% due 2030
Issued $550M of 7.000% senior notes due 2030 (upsized from $450M); priced at 100% of face value.
Park Hotels corrects 2024 revenue outlook down ~$29M; operating margin up 20 bps
2024 total revenue low case corrected to $2,633M (was $2,662M); high case to $2,682M (was $2,711M).
Park Hotels beats preliminary Q4 2023 and full-year 2023 guidance; Adj. EBITDA tops midpoint
Preliminary Q4 Comparable RevPAR $178.25 (+4.1% YoY); full-year $178.62 (+8.7% YoY).
Park Hotels faces receiver appointment for two San Francisco hotels after CMBS loan default
Trustee filed lawsuit to appoint receiver for Hilton SF Union Square & Parc 55; default on $725M CMBS loan since June 2023.
Park Hotels & Resorts Reports Q2 2023 Results on August 2, 2023
Park Hotels & Resorts Inc. (PK) reported Q2 2023 results on August 2, 2023, via a press release.
Park Hotels ceases payments on $725M SF CMBS loan, expects hotel removal
Cessation of payments on $725M non-recourse CMBS loan secured by Hilton San Francisco Union Square and Parc 55.
Park Hotels Q1 net income $33M, RevPAR up 36.5%; dividend raised to $0.15
Comparable RevPAR $158.84 (+36.5% YoY); net income $33M vs loss $56M in prior year.
Park Hotels enters new $950M unsecured revolving credit facility, repays $78M term loan
New $950M unsecured revolver replaces $901M prior facility; matures Dec 1, 2026 with extension options.
Park Hotels Q2 net income $150M, RevPAR +119.7% YoY; Q3 RevPAR guidance $171-$174
Net income attributable to stockholders $150M (diluted EPS $0.66); Adjusted FFO $139M ($0.61 per share).
Park Hotels Q1 2022 net loss narrows to $57M; RevPAR up 182% YoY; Q2 guidance issued
Net loss of $57M (diluted EPS -$0.24) vs -$190M YoY; Adjusted EBITDA of $82M vs -$49M YoY.
Park Hotels provides investor update; highlights 33% NAV discount, Q4 Hotel EBITDA $85M
Internal NAV estimate implies 33% discount to consensus; stock trades at 10.7x 2019 pro-forma Adjusted EBITDA.
Board approved up to $300M share repurchase over 24 months; program expires Feb 23, 2024.
Park Hotels Q4 net loss $67M; RevPAR $110.22, up 298% YoY but down 38% vs 2019
Net loss attributable to stockholders of $67M for Q4 2021, compared to $217M loss in Q4 2020.
Park Hotels Q3 net loss $86M, Adj. EBITDA $77M; RevPAR up 302% YoY
Net loss attributable to stockholders $86M ($0.36 diluted loss); Adjusted FFO $5M ($0.02).
Park Hotels Q2 2021 RevPAR $78.46, net loss $116M; break-even in June; $477M asset sales
Pro-forma RevPAR $78.46 (+909.7% YoY, -59.2% vs. 2019); occupancy 42.3% (55.6% for open hotels).
appointed Terri D. McClements to serve as a member of the Board
Max materiality 0.85 · Median 0.55 · Most common event earnings