Professional
Added to YB: 2024-03-01
Pitch date: 2024-02-28
PK [bullish]
Park Hotels & Resorts Inc.
-23.89%
current return
Author Info
No bio for this author
Company Info
Park 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.
Market Cap
$2.1B
Pitch Price
$14.29
Price Target
26.50 (+144%)
Dividend
9.57%
EV/EBITDA
11.09
P/E
-156.05
EV/Sales
2.57
Sector
Hotel and Resort REITs
Category
value
Park Hotels & Resorts Inc.: Modest Occupancy and Rate Growth Lead to Solid Fourth-Quarter Results
$PK Q4 beat; $26.50 FV reit'd on 71% occ, 1.9% ADR, 4.1% RevPAR rise but 5.9% cost inflation. '24 guide 3.5-5.5% RevPAR, flat margins. Spun off $HLT, divested non-core to focus on premium US hotels. Bulls: econ growth, leverage, M&A. Bears: supply, rates, trends.
Read full article (11 min)