Park Hotels & Resorts(US:PK)2020-11-06 15:41Financial Performance & Liquidity - Park Hotels & Resorts reported a net loss attributable to stockholders of $(276) million for the three months ended September 30, 2020, and $(1,223) million for the nine months ended September 30, 2020[16] - The company's pro-forma Hotel Adjusted EBITDA for the three months ended September 30, 2020, was $(76) million, compared to $217 million for the same period in 2019, a significant decrease[26] - Pro-forma Hotel Revenues decreased by 875% from $750 million to $95 million for the three months ended September 30, 2020, compared to the same period in 2019[27] - As of September 30, 2020, Park Hotels & Resorts had approximately $16 billion in liquidity and estimates a monthly burn rate of roughly $50 million, providing over two and a half years of available funds to meet financial obligations[84] Portfolio & Operating Metrics - As of November 5, 2020, Park's portfolio consisted of 60 hotels with 33,228 rooms [4] - Pro-forma RevPAR for all markets in Q3 2020 was $2614, a decrease of 861% compared to $18793 in Q3 2019 [53] - Pro-forma Occupancy for all markets in Q3 2020 was 191%, a decrease of 656 percentage points compared to 847% in Q3 2019 [53] Capital Structure - As of September 30, 2020, the company's total debt was $5121 million [14] - The company has $3856 million in fixed-rate debt with a weighted average interest rate of 506% [80] - The company has $1301 million in variable-rate debt with a weighted average interest rate of 308% [80]