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Dec 31, 2019
Park Hotels Q4 2019 Earnings Report
Park Hotels & Resorts reported Q4 2019 earnings, showing a slight increase in comparable RevPAR and a significant rise in net income.
Key Takeaways
Park Hotels & Resorts Inc. announced its Q4 and full-year 2019 results, with Q4 pro-forma comparable RevPAR increasing by 0.7% to $178.39 and net income reaching $126 million. The company also completed the sales of three non-core hotels for $262 million.
Pro-forma Comparable RevPAR increased by 0.7% to $178.39.
Pro-forma Comparable Total RevPAR increased by 2.1% to $275.63.
Net income was $126 million.
Completed the sales of three non-core hotels for total gross proceeds of $262 million.
Park Hotels
Park Hotels
Park Hotels Revenue by Segment
Revenue by Segment
Rooms Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comAncillary Hotel Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Park Hotels & Resorts anticipates full-year 2020 operating results with a comparable RevPAR growth between -1.0% and 1.0%.
Positive Outlook
- Comparable RevPAR Growth between (1.0)% and 1.0%
- Net income between $279 million and $308 million
- Adjusted EBITDA between $800 million and $830 million
- Diluted earnings per share between $1.12 and $1.24
- Adjusted FFO per share - Diluted between $2.55 and $2.67
Challenges Ahead
- Comparable Hotel Adjusted EBITDA margin change between (175) bps and (100) bps
- Includes $0 of Adjusted EBITDA from the Caribe Hilton
- RevPAR growth disruption of 50 bps related to meeting space ROI projects
- Adjusted EBITDA disruption of $12 million related to meeting space ROI projects
- Does not take into account potential future acquisitions and dispositions
Revenue & Expenses
Visualization of income flow from segment revenue to net income