Park Hotels & Resorts Inc. - $PK STOCK NEWS

Park Hotels & Resorts Inc. is offering to purchase any and all of its outstanding 7.500% Senior Notes due 2025 through a tender offer. The offer expires on May 13, 2024, and includes certain terms and conditions. The purchase price for the Notes is detailed in the offer materials, with the Settlement Date expected to be on May 16, 2024. Holders of the Notes who participate in the offer will receive the tender offer consideration along with accrued and unpaid interest up to the Settlement Date. The offer is subject to conditions, including debt financing transactions, and may be amended or terminated by the Issuers.

Park Hotels & Resorts Inc. announced a senior notes offering of $450 million aggregate principal amount due 2030, guaranteed by the Company and certain subsidiaries. The net proceeds will be used for various purposes, including purchasing and redeeming existing senior notes and general corporate use.

Park Hotels & Resorts Inc. reported its first-quarter 2024 results showing an increase in revenue and operating income, driven by strategic investments in Hawaii, Key West, and Orlando. The company experienced significant growth in Comparable RevPAR, operating income margin, and Adjusted FFO per share. Despite net income declines, Park remains focused on creating long-term shareholder value through portfolio reshaping, investments in ROI projects, and balance sheet strengthening.

Park Hotels & Resorts Inc. declares a second quarter dividend of $0.25 per share, payable to stockholders on July 15, 2024. The dividend announcement reflects the company's commitment to returning value to shareholders.

Park Hotels & Resorts Inc. receives the 2024 ENERGY STAR Partner of the Year Award for Energy Management, marking the second consecutive year of this achievement. The Company stands out as the sole hotel company to earn this recognition for its energy management program, showcasing a strong commitment to sustainability and environmental stewardship.

Park Hotels & Resorts Inc. (NYSE: PK) announced its plans to report financial results for the first quarter of 2024. The company will hold a conference call to discuss earnings results, operational environment, and business outlook on May 1, 2024.

Park Hotels & Resorts Inc. (PK) reported strong financial results for Q4 and full year 2023, with increases in key metrics like Net income, Operating income, and Comparable RevPAR. The company exceeded its operational goals, strengthened its balance sheet, and returned over $630 million to shareholders. Park invested nearly $400 million in renovation projects, leading to positive outlooks for 2024. Despite challenges like disruptions from renovations, Park's strategic initiatives have driven growth and increased shareholder value.

Park Hotels & Resorts Inc. announced strong financial results for Q4 and full year 2023, showcasing significant growth in net income and operational metrics. The company focused on strategic objectives, strengthened its balance sheet, and returned capital to shareholders. Park invested in transformative renovation projects, leading to sector-leading total returns for shareholders. Despite disruptions from renovations, Comparable RevPAR and Adjusted EBITDA saw impressive growth. Park's liquidity stands at over $1.3 billion, with a focus on long-term value creation and sustainability practices.

Park Hotels & Resorts Inc. (PK) has reported preliminary fourth quarter and full-year 2023 results, with both preliminary Comparable RevPAR and Adjusted EBITDA exceeding the midpoint of their previously announced 2023 guidance ranges. The company's portfolio delivered impressive results, with business travel accelerating in Boston, Chicago, and New York, driving a nearly 8% year-over-year preliminary Comparable RevPAR increase for the quarter in their urban portfolio. Additionally, leisure demand trends remained strong at their Hawaii hotels, with combined fourth quarter preliminary RevPAR for those two resorts up over 8% versus the prior year. Looking ahead to 2024, the company expresses excitement for the future.