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Jun 30, 2022
Park Hotels Q2 2022 Earnings Report
Park Hotels & Resorts Inc. reported second quarter 2022 results.
Key Takeaways
Park Hotels & Resorts Inc. announced results for the second quarter ended June 30, 2022. Pro-forma RevPAR was $173.03, an increase of 119.7% from the same period in 2021 and a decrease of 10.2% from the same period in 2019. Net income attributable to stockholders was $150 million and Adjusted EBITDA was $207 million.
Pro-forma RevPAR was $173.03, an increase of 119.7% from the same period in 2021.
Net income and net income attributable to stockholders were $154 million and $150 million, respectively.
Adjusted EBITDA was $207 million, an increase of 153.1%, compared to the first quarter of 2022.
Reopened the sole remaining suspended hotel, the 1,024-room Parc 55 San Francisco – a Hilton Hotel, on May 19, 2022.
Revenue by Segment
Forward Guidance
Expectations for third quarter 2022 operating results are as follows: RevPAR between $171 and $174, Net income attributable to stockholders between $0 and $20 million, Adjusted EBITDA between $145 and $165 million and Adjusted FFO per share – Diluted between $0.34 and $0.43.
Positive Outlook
- Fully diluted weighted average shares are expected to be 224 million
- RevPAR between $171 and $174
- Net income between $6 and $26 million
- Adjusted EBITDA between $145 and $165 million
- Adjusted FFO per share – Diluted between $0.34 and $0.43
Challenges Ahead
- uncertainty surrounding any new disruptions from the COVID-19 pandemic
- macro-economic factors, including inflation
- increases in interest rates
- supply chain disruptions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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