Core Insights - Park Hotels & Resorts reported a revenue of $649 million for the quarter ended September 2024, reflecting a decrease of 4.4% year-over-year [1] - The earnings per share (EPS) for the quarter was $0.49, a significant increase from $0.13 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $654.98 million, resulting in a surprise of -0.91% [1] - The company met the consensus EPS estimate of $0.49, indicating no surprise in earnings [1] Performance Metrics - Comparable RevPAR (Revenue per Available Room) growth was 3.3%, slightly above the three-analyst average estimate of 3.2% [3] - The occupancy rate reached 78.1%, surpassing the average estimate of 76.1% based on two analysts [3] - Room revenues totaled $403 million, which was below the estimated $405.21 million, marking a year-over-year decline of 6.7% [3] - Ancillary hotel revenues were reported at $68 million, exceeding the average estimate of $62.97 million, with a year-over-year increase of 3% [3] - Food and beverage revenues amounted to $157 million, slightly below the average estimate of $160.33 million, reflecting a year-over-year decrease of 1.3% [3] - Other revenues were reported at $21 million, below the estimated $23.32 million, representing a year-over-year decline of 4.6% [3] - Diluted earnings per share were $0.26, exceeding the average estimate of $0.15 [3] Stock Performance - Over the past month, shares of Park Hotels & Resorts have returned -1%, in contrast to the Zacks S&P 500 composite's +1.7% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Park Hotels & Resorts (PK) came out with quarterly funds from operations (FFO) of $0.49 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.51 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post FFO of $0.63 per share when it actually produced FFO of $0.65, delivering a surprise of 3.17%. Over the last four quarters, the company has surpassed consensus FFO estimates three times. Park Hotels & Resor ...

TYSONS, Va., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE: PK) today announced results for the third quarter ended September 30, 2024 and provided an operational update. ______________________________________________ Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------- ...

Core Insights - Park Hotels & Resorts Inc. announced that the Waldorf Astoria Orlando hotel has been ranked 9th in the world by Condé Nast Traveler in its 2024 Readers' Choice Awards for the Best Resorts in the World [1][2] Company Overview - Park Hotels & Resorts is one of the largest publicly traded lodging REITs, with a diverse portfolio of iconic and market-leading hotels and resorts that possess significant underlying real estate value [2] - The company's portfolio currently consists of 41 premium-branded hotels and resorts, totaling over 25,000 rooms located in prime city center and resort locations [2] Investment and Development - The recognition of the Waldorf Astoria Orlando is attributed to Park's development capabilities, following a $220 million investment aimed at reimagining both the Waldorf Astoria Orlando and Signia by Hilton Orlando Bonnet Creek [2] - The company aims to continue creating exceptional experiences for guests while driving long-term value for shareholders [2]

Core Insights - Pasithea Therapeutics Corp. announced promising safety, tolerability, pharmacokinetic (PK), and preliminary efficacy data for PAS-004, a next-generation MEK inhibitor, in its Phase 1 clinical trial [1][3][4] Pharmacokinetics and Dosing - The Phase 1 clinical trial is designed as a multi-center, open-label, dose escalation study to evaluate PAS-004 in patients with advanced solid tumors driven by MAPK pathway mutations [2] - PAS-004 demonstrated a long half-life of approximately 70 hours, allowing for once-daily or less frequent oral dosing, which is a significant improvement over first-generation MEK inhibitors [5][9] - At steady-state, drug levels peaked at about 5 hours with a geometric mean maximum concentration (Cmax) of 16.2 ng/mL for the 2 mg dose and 61.3 ng/mL for the 4 mg dose [5] Safety and Tolerability - No treatment-related adverse events (TRAEs) or dose-limiting toxicities (DLTs) were observed in the first two dosing cohorts, indicating a favorable safety profile [7] - The absence of common side effects associated with MEK inhibitors, such as rash or gastrointestinal toxicity, was noted [7][9] Preliminary Efficacy - A patient with stage 3 colon cancer, who had received four prior lines of therapy, achieved prolonged stable disease while on PAS-004, suggesting early signs of efficacy [1][4] - The patient had a BRAF K601E mutation, which currently lacks approved therapies, highlighting the potential of PAS-004 in treating difficult-to-manage cases [4] Future Directions - The company has initiated dosing for a third cohort at an increased dose of 8 mg and plans to provide periodic updates on the trial's progress [8][9] - PAS-004 is positioned to potentially outperform current MEK inhibitors in terms of safety, reduced administration frequency, and efficacy across various indications, including neurofibromatosis type 1 (NF1) and other MAPK-driven cancers [4][9]

Core Viewpoint - Park Hotels & Resorts Inc. plans to report its financial results for the third quarter of 2024 on October 29, 2024, and will hold a conference call to discuss these results on October 30, 2024 [1]. Group 1: Financial Reporting - The financial results for Q3 2024 will be announced after the stock market closes on October 29, 2024 [1]. - A conference call is scheduled for October 30, 2024, at 11:00 a.m. Eastern Time to discuss earnings results and business outlook [1]. Group 2: Conference Call Participation - The conference call can be accessed via telephone or the internet, with specific dial-in numbers provided for participants [2]. - Participants are encouraged to join the call 10 minutes early to ensure connectivity [2]. Group 3: Company Overview - Park Hotels & Resorts is one of the largest publicly traded lodging REITs, with a portfolio of 41 premium-branded hotels and resorts totaling over 25,000 rooms [4]. - The properties are located in prime city center and resort locations, highlighting the significant underlying real estate value [4].

About Park and Safe Harbor Disclosure About Park Hotels & Resorts Inc. Park (NYSE: PK) is one of the largest publicly-traded lodging real estate investment trusts ("REIT") with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 42 premium-branded hotels and resorts with approximately 26,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more informat ...

For the quarter ended June 2024, Park Hotels & Resorts (PK) reported revenue of $686 million, down 3.9% over the same period last year. EPS came in at $0.65, compared to -$0.70 in the year-ago quarter. The reported revenue represents a surprise of -1.29% over the Zacks Consensus Estimate of $694.94 million. With the consensus EPS estimate being $0.63, the EPS surprise was +3.17%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Park Hotels & Resorts (PK) came out with quarterly funds from operations (FFO) of $0.65 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to FFO of $0.60 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 3.17%. A quarter ago, it was expected that this company would post FFO of $0.44 per share when it actually produced FFO of $0.52, delivering a surprise of 18.18%. Over the last four quarters, the comp ...

TYSONS, Va., July 31, 2024 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE: PK) today announced results for the second quarter ended June 30, 2024 and provided an operational update. ______________________________________________ Selected Statistical and Financial Information (unaudited, amounts in millions, except RevPAR, ADR, Total RevPAR and per share data) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------- ...