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Park Hotels & Resorts(PK) - 2023 Q4 - Earnings Call Presentation
2024-02-28 16:00
Financial Performance & Outlook - Park Hotels & Resorts reported a net income attributable to stockholders of $97 million for the year ended December 31, 2023[13] - Adjusted FFO attributable to stockholders was $439 million, or $2.04 per diluted share for the year ended December 31, 2023[22] - The company anticipates a full-year 2024 net income between $146 million and $186 million[31] - Adjusted EBITDA for full-year 2024 is projected to be between $645 million and $685 million[31] - Adjusted FFO per share – Diluted for 2024 is expected to be between $2.02 and $2.22[31] Portfolio Performance - Comparable RevPAR increased by 49% for the year ended December 31, 2023[46] - Comparable Hotel Adjusted EBITDA reached $680 million for the year ended December 31, 2023[20] - Comparable Hotel Revenues totaled $2441 million for the year ended December 31, 2023[20] - Comparable Hotel Adjusted EBITDA margin was 278% for the year ended December 31, 2023[20] Capital Structure - As of December 31, 2023, the company's total debt stood at $3765 million[13] - The company has approximately $950 million of available capacity under the Revolver[101] - Net debt to full-year Comparable Adjusted EBITDA ratio is 515x[27]