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Park Hotels & Resorts (PK)
:PK
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.06Last Year’s EPS
0.89Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2018
|% Change Since: 1.41%
|Next Earnings Date:Aug 01, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of strong performance in several key markets and successful redevelopment projects, juxtaposed with challenges in Hawaii and disruptions from hurricanes and labor strikes. Despite these challenges, the company remains optimistic about its strategic initiatives and future performance.Company Guidance
In the Park Hotels & Resorts Q3 2024 earnings call, the company reported a RevPAR growth of 3.3% year-over-year, driven by strong performance in group and business transient demand, with urban markets like Chicago, New Orleans, and Boston showing a combined RevPAR increase of 14%. Leisure trends in resort markets such as Orlando, Miami, and San Diego contributed to an 11% RevPAR growth. The company highlighted redevelopment projects in Orlando and Key West, with the Waldorf Astoria Orlando ranking ninth in Condé Nast Traveler's 2024 Reader's Choice Awards. Park Hotels & Resorts is exploring further development opportunities in Hawaii, Key West, Santa Barbara, and Miami. The Bonnet Creek complex in Orlando achieved a 22% RevPAR growth, while Key West experienced a 130% increase. Miami's RevPAR grew over 7%, and New Orleans saw an 8-point occupancy increase. Group revenue rose nearly 13% to $110 million, with 2024 group revenue pace up over 9%. However, Hawaii's RevPAR declined by 8% due to labor strikes and weather disruptions. The company emphasized strategic dispositions and capital recycling, with asset sales generating over $40 million and a buyback of 2.5 million shares in Q3. Despite uncertainties in labor negotiations affecting full-year guidance, Park remains optimistic about future growth and portfolio reshaping.RevPAR Growth and Strong Performance
Park Hotels & Resorts reported a 3.3% RevPAR growth in Q3 2024, driven by strong convention calendars in Chicago, New Orleans, and Boston, resulting in a 14% RevPAR increase in those urban markets.
Successful Redevelopment Projects
The company's redevelopment projects in Orlando and Key West showed significant success, with Key West seeing a 130% RevPAR growth due to renovations, and Orlando's Bonnet Creek complex witnessing a 22% RevPAR growth.
Strong Group Segment Performance
Group revenue increased nearly 13% year-over-year to approximately $110 million, with banquet and catering revenue improving by 9%. Group revenue pace for 2024 is up over 9%.
Capital Allocation and Asset Disposals
During Q3, Park Hotels disposed of two noncore assets, improving their balance sheet and using proceeds to repurchase 2.5 million shares of common stock for $35 million.
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PK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $13.43 | $13.44 | +0.07% |
| Jul 31, 2024 | $14.15 | $13.86 | -2.05% |
| Apr 30, 2024 | $14.90 | $14.75 | -1.01% |
| Feb 27, 2024 | $14.51 | $15.20 | +4.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Park Hotels & Resorts (PK) report earnings?
Park Hotels & Resorts (PK) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Park Hotels & Resorts (PK) earnings time?
Park Hotels & Resorts (PK) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PK EPS forecast?
PK EPS forecast for the fiscal quarter 2024 (Q4) is 0.06.
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