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Mar 31, 2020
Park Hotels Q1 2020 Earnings Report
Park Hotels & Resorts Inc. reported first quarter 2020 results and provided an operational update.
Key Takeaways
Park Hotels & Resorts Inc. reported a net loss of $689 million for the first quarter of 2020, including a $607 million non-cash impairment loss related to goodwill and $88 million of non-cash impairment losses related to long-lived assets. Pro-forma RevPAR was $136.27, a decrease of 22.6% from the same period in 2019, and pro-forma Total RevPAR was $218.17, a decrease of 20.2% from the same period in 2019. Adjusted EBITDA was $82 million, and adjusted FFO attributable to stockholders was $57 million.
Pro-forma RevPAR decreased by 22.6% compared to the same period in 2019, reaching $136.27.
Pro-forma Total RevPAR decreased by 20.2% compared to the same period in 2019, amounting to $218.17.
Net loss was $689 million, including $607 million in non-cash impairment loss related to goodwill and $88 million of non-cash impairment losses related to long-lived assets.
Adjusted EBITDA stood at $82 million.
Revenue by Segment
Forward Guidance
Park has withdrawn its previously issued 2020 guidance due to economic uncertainty, travel restrictions, and rapidly-changing circumstances related to the COVID-19 pandemic and is not providing an updated outlook at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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