Park Hotels Q4 2020 Earnings Report
Key Takeaways
Park Hotels & Resorts Inc. reported a challenging fourth quarter and full year 2020, significantly impacted by the COVID-19 pandemic. Pro-forma RevPAR decreased significantly, and the company experienced a net loss. However, Park has taken proactive measures to mitigate the crisis, including increasing open hotels, reducing capital expenditures, and amending credit facilities.
Pro-forma RevPAR decreased by 84.5% compared to the same period in 2019.
Occupancy for consolidated hotels open during the fourth quarter was 35.3%.
Net loss attributable to stockholders was $(217) million.
The company increased the total number of open hotels to 50 of 60 since suspending operations in March 2020.
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Park Hotels Revenue by Segment
Forward Guidance
Given the continued economic uncertainty, travel restrictions and rapidly changing circumstances related to the COVID-19 pandemic, Park is not providing an outlook for 2021 at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income