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Jun 30, 2021
Park Hotels Q2 2021 Earnings Report
Park Hotels & Resorts Inc. reported second quarter 2021 results, showing improvement in key metrics driven by increased leisure demand and strategic asset sales.
Key Takeaways
Park Hotels & Resorts Inc. announced positive Hotel Adjusted EBITDA for the second quarter, driven by strong leisure demand in resort markets. The company broke even at the corporate level in June and anticipates positive cash flow for the third quarter. They completed the sale of four hotels and have one pending sale, totaling $477 million in gross proceeds, to de-leverage the balance sheet.
Pro-forma RevPAR increased by 909.7% compared to the same period in 2020, reaching $78.46.
Pro-forma occupancy for consolidated hotels open during the entire second quarter was 55.6%.
Net loss attributable to stockholders was $(116) million.
Adjusted EBITDA was $33 million, improving from $(49) million in the first quarter of 2021.
Revenue by Segment
Forward Guidance
Park Hotels & Resorts is not providing an outlook for full-year 2021 due to continued economic uncertainty, travel restrictions, and rapidly changing circumstances related to the COVID-19 pandemic.
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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