The potential for high returns and stable income streams have made real estate investment trusts, or REITs, a popular investment vehicle. However, not all REITs are created equal, especially with a potential recession hanging overhead. On today’s list, I take a look at three REITs to sell. The reasoning for my bearishness on these particular REITs stems from the fact that their area of focus — hotels and resorts — has limited upside and a lot of downside risk in the current economic environment. The lodging sector is showing signs of improvement after the pandemic, but it is not out of the woods yet. Occupancy rates remain below pre-pandemic levels , and inflation and recession threaten to stop the recovery in its tracks. As consumers continue to rein in discretionary spending, they are less likely to spend money on travel, thus reducing demand for lodging. Here are three REITs to sell. PK Park Hotels & Resorts $11.26 HST Host Hotels & Resorts $15.88 PEB Pebblebrook Hotel Trust $14.51 Park Hotels & Resorts (PK) Source: Shutterstock Park Hotels & Resorts (NYSE: PK ) is one of the largest publicly traded lodging REITs with “49 premium-branded hotels and resorts with over 30,000 rooms primarily located in prime city center and resort locations,” according to the company.
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Almost every sub-sector of REITs has been hit hard in 2022 as inflation and recession worries have taken their toll on markets. Hotel REITs have been one of the worst REIT performers during this time. Many in the group are down 40% or more and several of these hotel REITs have recently touched 52-week lows. Yet, analysts continue to have faith in the group as a whole and have set price targets well above the current prices of these stocks. Here are three hotel REITs analysts recently noted that have the highest upsides among the group: Park Hotels & Resorts Inc (NYSE: PK ) is a Tysons, Virginia-based hotel REIT with 49 premium brand hotels and resorts across 14 of the top 25 markets in the U.S. affiliates include Hilton, Marriott and Hyatt. The 52-week range for Park Hotels & Resorts is $11.04 to $21.62, and the stock was recently close to its low. Wells Fargo analyst Dori Kesten upgraded Park Hotels & Resorts from Equal-Weight to Overweight and announced a $17 price target. … Full story available on Benzinga.
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As of Wednesday, Park Hotels & Resorts Inc.’s (NYSE:PK) stock closed at $14.36, up from $14.14 the previous day. While Park Hotels & Resorts Inc. has overperformed by 1.56%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PK fell by -24.70%, with highs and lows ranging […]
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Park Hotels & Resorts (NYSE:PK) declares $0.01/share quarterly dividend, in line with previous.Forward yield 0.27%Payable Oct. 17; for shareholders of record Sept. 30; ex-div Sept.
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TYSONS, Va., Sept. 09, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a third quarter cash dividend of $0.01 per share of common stock. The dividend will be paid in cash on October 17, 2022 to stockholders of record as of September 30, 2022.
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TYSONS, Va., Sept. 09, 2022 (GLOBE NEWSWIRE) — Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) introduced right this moment that the Company has declared a 3rd […] The post Park Hotels & Resorts Announces Third Quarter Dividend of appeared first on Businessfortnight .
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Currently, Park Hotels & Resorts Inc.’s (PK) stock is trading at $14.22, marking a gain of 0.89% from last night’s close. At this price, the stock is -34.25% below its 52-week high of $21.62 and 10.19% above its 52-week low of $12.90. Based on the past 30-day period, the stock price is -12.33% below the […]
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Monday''s additional top analyst upgrades and downgrades were on Aerie Pharmaceuticals, Dow, Host Hotels & Resorts, LyondellBasell Industries, Park Hotels & Resorts and more.
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Wednesday’s top analyst upgrades and downgrades included Apple, Carvana, Elanco Animal Health, Gilead Sciences, Home Depot, Park Hotels & Resorts, Shoals Technologies, SNDL, SITE Centers and UDR.
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Park Hotels & Resorts (PK) shares slipped 1% in Tuesday premarket trading after BMO Capital Markets analyst Ari Klein downgraded the REIT to Market Perform from Outperform as…
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https://www.investing.com/news/pro/bmo-capital-downgrades-park-hotels--resorts-to-market-perform-432SI-2873249
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Park Hotels & Resorts Inc. found using ticker (PK) have now 13 analysts in total covering the stock. The consensus rating is ''Hold''. The range between the high target price and low target price is between 28 and 15 with the average target price sitting at 20.65. With the stocks previous close at 15.51 this indicates there is a potential upside of 33.1%. The day 50 moving average is 15.18 and the 200 moving average now moves to 17.82. The market cap for the company is $3,588m. Company Website: https://www.pkhotelsandresorts.com [stock_market_widget type="chart" template="basic" color="green" assets="PK" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $4,778m based on the market concensus. Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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Over the last year, companies have complained about labor shortages and difficulty hiring. With fears that the economy is cooling off, firms are cutting costs — for some that means cutting workers. Some companies see those reductions as permanent, a far cry from labor shortages of the past year. For over a year, companies have had one big complaint: Nobody wants to work anymore. Now, though, the tide seems to be turning. Firms have shifted to talking about getting rid of their staff to save costs, and becoming leaner. Lyft''s chief financial officer Elaine Paul said in an earnings call that the company has "materially pulled back on hiring." Walmart''s first quarter earnings call in May saw CEO Doug McMillon saying that the company was overstaffed after employees came back to work from Covid leave sooner than expected. "We hired more associates at the end of last year to cover for those on leave, so we ended up with weeks of overstaffing," he explained. "That issue was resolved during the quarter primarily through attrition." In other words, overstaffing was solved by people leaving — something that runs contrary to the narrative that companies are eager to hire and can''t find anyone.
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Monday''s additional top analyst upgrades and downgrades were on Coinbase Global, Global Blood Therapeutics, Grab, Leslie’s, Nektar Therapeutics, Park Hotels & Resorts, Rocket Companies and Roku.
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https://www.investing.com/news/pro/smbc-nikko-securities-downgrades-park-hotels--resorts-to-neutral-432SI-2866230
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PK earnings call for the period ending June 30, 2022.
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Park Hotels & Resorts Inc. (NYSE:NYSE:PK) Q2 2022 Earnings Conference Call August 04, 2022 11:00 AM ET Company Participants Ian Weissman - Senior Vice President of Corporate Strategy…
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Park Hotels & Resorts press release (PK): Q2 FFO of $0.61 beats by $0.14.Revenue of $695M (+115.2% Y/Y) beats by $37.62M.Adjusted EBITDA was $207M, an increase of 153.1%, compared…
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Park Hotels & Resorts (PK) is scheduled to announce Q2 earnings results on Wednesday, August 3rd, after market close.The consensus FFO Estimate is $0.47 and the consensus Revenue…
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Park Hotels & Resorts (NYSE: PK ) is set to give its latest quarterly earnings report on Wednesday, 2022-08-03. Here''s what investors need to know before the announcement. Analysts estimate that Park Hotels & Resorts will report an earnings per share (EPS) of $0.13. Park Hotels & Resorts bulls will hope to hear the company to announce they''ve not only beaten that … Full story available on Benzinga.com
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Today I’m looking at REITs to sell now, as they have little or no income and their prospects for investors are not that good as a result. Moreover, it may take some time for these REITs, or real estate investment trusts, to revive and renew their ability to produce income for their investors. The fact is that investors choose REIT stocks because of their income-producing abilities and dividend yields. The fact that these trusts are concentrated in the real estate or mortgage industry is tangential to their income feature — investors want the reliable income that real estate and mortgage investments can bring. But because of that focus on dividends, REITs with little or no income are of little value to market investors. There are two ways to play this for investors. If they already own the shares, they can sell them before the funds fall further and invest somewhere better. Or else they can play on their downfall by buying puts or shorting the REITs. 5 Electric Vehicle Stocks to Buy on the Dip Let’s dive in and look at these REITs to sell.
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Jefferies Financial Group dropped their Q3 2022 earnings estimates for Park Hotels & Resorts in a report released on Wednesday, July 13th. Jefferies Financial Group analyst D. Katz now anticipates … Read Full Story at source (may require registration) The post Jefferies Financial Group Equities Analysts Reduce Earnings Estimates for Park Hotels & Resorts Inc. (NYSE:PK) appeared first on ForexTV .
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The trading price of Park Hotels & Resorts Inc. (NYSE:PK) closed higher on Tuesday, July 12, closing at $13.95, 2.27% higher than its previous close. >> 5 Best Growth Stocks for 2022 << >> 5 Best Growth Stocks for 2022 << Traders who pay close attention to intraday price movement should know that it fluctuated … Are Value Hunters Buying Park Hotels & Resorts Inc. (NYSE: PK) Stock? Read More »
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The major real estate investment trusts followed the general market higher Thursday and most closed in the green. There were two outstanding performers today closing more than 4% higher each. Park Hotels and Resorts (NYSE: PK ) climbed a solid 5.81% on very heavy buying volume: Reversing Wednesday’s downtrend, this REIT showed good strength as investors moved back in, showing greater buying interest than it’s seen in many days. Park Hotels & Resorts, a hotel REIT with properties across the U.S., … Full story available on Benzinga.com
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All of the major real estate investment trusts are down at the opening bell today in line with the general sell-off going on for the stock market as a whole. Selling is especially evident in Park Hotels & Resorts (NYSE: PK ), which is off immediately by 3.11%: The REIT is re-testing the lows from earlier in June. A close at this price would represent a new low for the year for the REIT. Real Estate News Bite: With stocks selling off, many retail investors are turning to more stable assets, like shares of fractionalized rental properties. Arrived … Full story available on Benzinga.com
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Park Hotels & Resorts (NYSE:PK) declares $0.01/share quarterly dividend, in line with previous.Forward yield 0.26%Payable July 15; for shareholders of record June 30; ex-div June 29.See…
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TYSONS, Va., June 15, 2022 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”) announced today that the Company has declared a second quarter cash dividend of $0.01 per share of common stock. The dividend will be paid in cash on July 15, 2022 to stockholders of record as of June 30, 2022.
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Park Hotels & Resorts Inc. found using ticker (PK) have now 15 analysts covering the stock. The analyst consensus points to a rating of ''Hold''. The target price ranges between 28 and 18.5 calculating the mean target price we have 22.7. Now with the previous closing price of 19.25 this now indicates there is a potential upside of 17.9%. The day 50 moving average is 18.64 and the 200 day MA is 18.81. The market cap for the company is $4,271m. Visit the company website at: https://www.pkhotelsandresorts.com [stock_market_widget type="chart" template="basic" color="green" assets="PK" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $5,036m based on the market concensus. Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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Thursday''s top analyst upgrades and downgrades included Analog Devices, Aptiv, CF Industries, Ford, Mosaic, Park Hotels & Resorts, Patterson-UTI Energy, Pinterest, Plug Power, Salesforce, Snap, Temper Sealy, Tesla, Twilio and Urban Outfitters.
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Upgrades Citigroup upgraded the previous rating for FinVolution Group (NYSE: FINV ) from Neutral to Buy. FinVolution Gr earned $0.30 in the first quarter, compared to $0.31 in the year-ago quarter. The stock has a 52-week-high of $10.41 and a 52-week-low of $2.68. At the end of the last trading period, FinVolution Gr closed at $4.21. For Noble Corp (NYSE: NE ), BTIG upgraded the previous rating of Neutral to Buy. At the moment, the stock has a 52-week-high of $37.77 and a 52-week-low of $20.34. Noble closed at $36.28 at the end of the last trading period. For Vertex Pharmaceuticals Inc (NASDAQ: VRTX ), Maxim Group upgraded the previous rating of Hold to Buy. For the first quarter, Vertex Pharmaceuticals had an EPS of $3.52, compared to year-ago quarter EPS of $2.98. The stock has a 52-week-high of $292.75 and a 52-week-low of $176.36. At the end of the last trading period, Vertex Pharmaceuticals closed at $268.65. For Visteon Corp (NASDAQ: VC ), Morgan Stanley upgraded the previous rating of Underweight to Equal-Weight.
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WEC Energy Group, Inc. saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 4,310,000 shares, a growth of…
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WEC Energy Group with ticker code (WEC) now have 13 analysts in total covering the stock. The consensus rating is ''Hold''. The target price ranges between 117 and 92.5 calculating the average target price we see 105.5. Given that the stocks previous close was at 105.4 this would imply there is a potential upside of .1%. The 50 day MA is 101.85 and the 200 moving average now moves to 95.04. The market cap for the company is $33,603m. You can visit the company''s website by visiting: https://www.wecenergygroup.com [stock_market_widget type="chart" template="basic" color="green" assets="WEC" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $33,635m based on the market concensus. WEC Energy Group, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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WECEnergy (WEC) +0.7% in Friday''s trading as Bank of America upgraded shares to Buy from Neutral with a $109 price target, saying the stock is now available "at an attractive…
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Upgrades B of A Securities upgraded the previous rating for Ritchie Bros Auctioneers Inc (NYSE: RBA ) from Underperform to Neutral. In the first quarter, Ritchie Bros Auctioneers showed an EPS of $0.46, compared to $0.25 from the year-ago quarter. The current stock performance of Ritchie Bros Auctioneers shows a 52-week-high of $76.17 and a 52-week-low of $48.65. Moreover, at the end of the last trading period, the closing price was at $58.91. For Ford Motor Co (NYSE: F ), Morgan Stanley upgraded the previous rating of Underweight to Equal-Weight. For the first quarter, Ford Motor had an EPS of $0.38, compared to year-ago quarter EPS of $0.89. The current stock performance of Ford Motor shows a 52-week-high of $25.87 and a 52-week-low of $11.28. Moreover, at the end of the last trading period, the closing price was at $12.44. For PaySign Inc (NASDAQ: PAYS ), Barrington Research upgraded the previous rating of Market Perform to Outperform. For the first quarter, PaySign had an EPS of $0.01, compared to year-ago quarter EPS of $0.03.
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Companies Reporting Before The Bell • New Gold (AMEX: NGD ) is estimated to report quarterly earnings at $0.03 per share on revenue of $212.42 million. • InMode (NASDAQ: INMD ) is likely to report quarterly earnings at $0.37 per share on revenue of $80.24 million. • Air Industries (AMEX: AIRI ) is likely to report quarterly earnings at $0.01 per share on revenue of $15.40 million. • Enel Americas (NYSE: ENIA ) is expected to report quarterly earnings at $0.16 per share on revenue of $3.46 billion. • WEC Energy Gr (NYSE: WEC ) is expected to report quarterly earnings at $1.66 per share on revenue of $2.73 billion. • Enterprise Prods Partners (NYSE: EPD ) is expected to report quarterly earnings at $0.53 per share on revenue of $10.51 billion. • Galmed Pharmaceuticals (NASDAQ: GLMD ) is likely to report earnings for its fourth quarter. • Axsome Therapeutics (NASDAQ: AXSM ) is expected to report earnings for its first quarter. • Park Hotels & Resorts (NYSE: PK ) is projected to report quarterly loss at $0.
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During the height of the COVID-19 pandemic, hotels and other entertainment-related businesses came to a near halt. Luckily, vaccines, natural immunity and other factors are causing life to return to normal. Hotels are expected to lock in 60% of pre-COVID revenues in FY22. In March 2022, Park Hotels and Resorts Inc’s (NYSE: PK ) 48 consolidated hotels had an occupancy rate of 63.0%, representing a 10% increase since February 2022. Per Business Travel News, hotel rates in 2022 are expected to increase 13% globally year over year. While the recovery is going strong, many hotel real estate investment trusts (REITs) are still overpriced. Fortunately, some private equity investments like Hotel Adeline provide opportunity for growth while being undervalued. Is Host Hotels And Resorts Overvalued? Host Hotels and Resorts Inc. (NASDAQ: HST ) is an established REIT, but it’s somewhat overvalued since its Funds From Operations or FFO per share hasn’t grown much since 2019. FFO measures a REIT’s profitability and uses the below formula.
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Upgrades For Cal-Maine Foods Inc (NASDAQ: CALM ), Consumer Edge Research upgraded the previous rating of Equal-Weight to Overweight. For the third quarter, Cal-Maine Foods had an EPS of $0.81, compared to year-ago quarter EPS of $0.28. At the moment, the stock has a 52-week-high of $52.80 and a 52-week-low of $33.85. Cal-Maine Foods closed at $51.96 at the end of the last trading period. B of A Securities upgraded the previous rating for Southwest Gas Holdings Inc (NYSE: SWX ) from Neutral to Buy. In the fourth quarter, Southwest Gas Hldgs showed an EPS of $1.61, compared to $1.82 from the year-ago quarter. At the moment, the stock has a 52-week-high of $80.42 and a 52-week-low of $62.54. Southwest Gas Hldgs closed at $78.50 at the end of the last trading period. For PagSeguro Digital Ltd (NYSE: PAGS ), Itau BBA upgraded the previous rating of Market Perform to Outperform. PagSeguro Digital earned $0.23 in the fourth quarter, compared to $0.21 in the year-ago quarter. The stock has a 52-week-high of $61.65 and a 52-week-low of $11.76.
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Opendoor Technologies Inc. (NASDAQ:OPEN) with the stream of 2.67% also noticed, India Park Hotels & Resorts Inc. (NYSE:PK) encountered a rapid change of 3.56% in the last hour of Wednesdays The post Surging Volumes with Negative Closing: Opendoor Technologies Inc. (NASDAQ:OPEN), Park Hotels & Resorts Inc. (NYSE:PK) appeared first on Stocks Equity .
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Related Stocks: ASTE , PK , TDY , IWL , BAR , ICSH , FLIR , CVS , BSCL ,
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TYSONS, Va., July 13, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (Park or the Company) (NYSE:PK) today announced that it has entered into two separate, definitive contracts to sell the 360-room Le Meridien San Francisco and the 171-room Hotel Adagio, Autograph Collection (San Francisco, CA) for total proceeds of $303.5 million, or an average sale price of approximately $572,000 per key. When adjusted for Parks anticipated capital expenditures (capex), the blended sale price represents a 6.1% capitalization rate on 2019 net operating income (6.7% excluding capex), or 14.4x 2019 EBITDA (13.2x excluding capex). Management currently expects each of the transactions to close within the next 60 days.
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Park Hotels & Resorts Inc. with ticker code (PK) have now 13 analysts in total covering the stock. The consensus rating is ''Hold''. The target price ranges between 28 and 18 calculating the mean target price we have 23.62. Given that the stocks previous close was at 19.07 this now indicates there is a potential upside of 23.9%. The 50 day moving average now sits at 20.95 and the 200 day MA is 20.42. The company has a market cap of $4,493m. You can visit the company''s website by visiting: /> [stock_market_widget type="chart" symbol="PK" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. This article Park Hotels & Resorts Inc. – Consensus Indicates Potential 23.
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TYSONS, Va., June 30, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (Park) (NYSE:PK) today announced that it has closed on the sale of the 210-room Hotel Indigo San Diego Gaslamp Quarter in San Diego, CA and the 204-room Courtyard Washington Capitol Hill Navy Yard in Washington, DC, for combined gross proceeds of $149 million, or approximately $360,000 per key. When adjusted for Parks anticipated capital expenditures (capex), the sale price represents a 7.0% capitalization rate on 2019 net operating income (7.4% excluding capex), or 12.8x 2019 EBITDA (12.2x excluding capex). Proceeds from the sale will be used to fully repay debt currently outstanding on the Companys revolving credit facility and partially repay debt currently outstanding on its one remaining bank term loan.
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Park Hotels & Resorts Inc. found using ticker (PK) now have 13 analysts covering the stock. The analyst consensus points to a rating of ''Hold''. The range between the high target price and low target price is between 28 and 18 and has a mean target at 23.62. With the stocks previous close at 21.39 this is indicating there is a potential upside of 10.4%. The 50 day moving average now sits at 21.27 and the 200 moving average now moves to 20.21. The company has a market cap of $5,106m. Find out more information at: /> [stock_market_widget type="chart" symbol="PK" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. This article Park Hotels & Resorts Inc.
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TYSONS, Va., June 21, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (Park) today announced that it plans to report financial results for the second quarter 2021 after the stock market closes on Thursday, August 5, 2021. Park will hold a conference call on Friday, August 6, 2021 at 11:00 a.m. Eastern Time (ET) to discuss its earnings results, current operational environment and business outlook.
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Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) with the stream of -1.89% also noticed, India Park Hotels & Resorts Inc. (NYSE:PK) encountered a rapid change of -3.33% in the last hour of trading The post Traders cant Passover this Stock: Aldeyra Therapeutics, Inc. (NASDAQ:ALDX), Park Hotels & Resorts Inc. (NYSE:PK) appeared first on Stocks Equity .
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Park Hotels & Resorts Inc. with ticker code (PK) now have 13 analysts covering the stock with the consensus suggesting a rating of ''Hold''. The target price ranges between 28 and 18 and has a mean target at 23.31. Given that the stocks previous close was at 21.86 this indicates there is a potential upside of 6.6%. The 50 day moving average now sits at 21.42 and the 200 day moving average is 20.06. The company has a market cap of $5,046m. Find out more information at: /> [stock_market_widget type="chart" symbol="PK" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. This article Park Hotels & Resorts Inc. Consensus Indicates Potential 6.6% Upside first appeared on DirectorsTalk Interviews .
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Citrix Systems, Inc. (NASDAQ:CTXS) with the stream of 1.48% also noticed, India Park Hotels & Resorts Inc. (NYSE:PK) encountered a rapid change of 1.46% in the last hour of Fridays The post This Stock is in a moonbeam: Citrix Systems, Inc. (NASDAQ:CTXS), Park Hotels & Resorts Inc. (NYSE:PK) appeared first on Stocks Equity .
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Park Hotels & Resorts Inc. found using ticker (PK) now have 13 analysts covering the stock. The analyst consensus points to a rating of ''Hold''. The range between the high target price and low target price is between 28 and 18 calculating the mean target price we have 23.31. With the stocks previous close at 21.36 this indicates there is a potential upside of 9.1%. The 50 day MA is 21.49 and the 200 day MA is 19.9. The company has a market cap of $5,018m. Find out more information at: /> [stock_market_widget type="chart" symbol="PK" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park''s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. This article Park Hotels & Resorts Inc. Consensus Indicates Potential 9.
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Park Hotels & Resorts shows improving price performance, earning an upgrade to its IBD Relative Strength Rating from 78 to 81.
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By Dave Sebastian Park Hotels & Resorts Inc. sees early indications of group booking activity and business travel that could translate into demand
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Park Hotels & Resorts Inc. said Tuesday it has increased the number of its hotels that are open to 55, or 93% of its total of 59 hotels, and 86% of its total room count. The hotel operator''s stock was still inactive in premarket trading. As of May 2021, occupancy was 40.7% at its 52 hotels, up from 37.0% in April, but down 20.1% from May 2019. Revenue per available room (RevPAR) in May was up 1,325.3% from a year ago, but down 61.7% from two years ago, after April RevPAR was up 1,305.3% from a year ago but down 65.9% from April 2019. "Leisure demand trends continue to accelerate at a faster pace than we had initially anticipated, with impressive pricing power seen in most of our resort assets, while early indications of group booking activity and business transient travel should translate to a broader based recovery across all demand segments over the back half of 2021 and well into 2022," said Chief Executive Thomas Baltimore. Park''s stock has rallied 26.4% year to date while the S&P 500 has gained 12.5%.
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TYSONS, Va., June 08, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (Park or the Company) (NYSE: PK) today provided an operational and liquidity update.
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