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Jun 30, 2020
Park Hotels Q2 2020 Earnings Report
Park Hotels & Resorts Inc. announced second quarter 2020 results and provided an operational update on COVID-19.
Key Takeaways
Park Hotels & Resorts Inc. reported a challenging second quarter in 2020 due to the COVID-19 pandemic. Pro-forma RevPAR decreased by 95.9% compared to the same period in 2019, and occupancy for the 18 consolidated hotels open during the entire quarter was 20.8%. The company reported a net loss of $(261) million and an Adjusted EBITDA of $(122) million. However, Park increased its total liquidity to $1.6 billion and took proactive measures to preserve cash.
Pro-forma RevPAR decreased 95.9% from the same period in 2019.
Occupancy for Park’s 18 consolidated hotels open during the entirety of the second quarter was 20.8%.
Net loss was $(261) million and net loss attributable to stockholders was $(259) million.
Increased total liquidity by $300 million, from $1.3 billion as of March 31, 2020 to $1.6 billion as of June 30, 2020.
Revenue by Segment
Forward Guidance
Given the continued economic uncertainty, travel restrictions and rapidly-changing circumstances related to the COVID-19 pandemic, in March 2020, Park withdrew its previously issued 2020 guidance. Park 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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