Real estate is the worst-performing sector, down over 5% year-to-date (YTD). Due to higher for longer rates, there has been a broad-based selloff. Investors are throwing out the baby with the bath water. And now, there are some cheap REITs to buy.The major issue for REITs has been the rise of the work-from-home phenomenon, which has increased vacancy rates. Besides, higher interest rates pose financing challenges, which has been a headwind. However, BMO Capital thinks REITs are oversold and investors should ...

Park Hotels & Resorts Inc. (NYSE:PK) Q1 2024 Results Conference Call May 1, 2024 11:00 AM ET Company Participants Ian Weissman - Senior Vice President, Corporate Strategy Tom Baltimore - Chairman, President & CEO Sean Dell’Orto - Chief Financial Officer & Treasurer Conference Call Participants Floris Van Dijkum - Compass Point Smedes Rose - Citibank Duane Pfennigwerth - Evercore ISI Chris Woronka - Deutsche Bank Anthony Powell - Barclays David Katz - Jefferies Stephen Grambling - Morgan Stanley Bill Crow - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to Commission File Number 001-37795 ______________________ ...

Exhibit 99.2 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 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more info ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________ FORM 10-K ________________________________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Numb ...

Park Hotels & Resorts, Inc. (NYSE:PK) Q4 2023 Results Conference Call February 28, 2024 11:00 AM ET Company Participants Ian Weissman - Senior Vice President, Corporate Strategy Thomas Baltimore - Chairman, President & CEO Sean Dell'Orto - Chief Financial Officer & Treasurer Conference Call Participants Floris Van Dijkum - Compass Point Dany Asad - Bank of America Smedes Rose - Citi Charles Scholes - Truist Securities Duane Pfennigwerth - Evercore ISI Dori Kesten - Wells Fargo Jay Kornreich - Wedbush Securi ...

TYSONS, Va., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. ("Park" or the "Company") (NYSE:PK) today provided an update on fourth quarter operating trends. "I am incredibly pleased with the strength of our portfolio as operating trends remained very solid in both October and November. Results were once again driven by improvements across our urban portfolio which delivered year-over-year 10% Comparable RevPAR growth during the first two months of the quarter. Business travel accelerated in Bo ...

About Park and Safe Harbor Disclosure About Park Hotels & Resorts Inc. Park (NYSE: PK) is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 43 premium-branded hotels and resorts (excluding the Hilton San Francisco Hotels) with over 26,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more inform ...

财务数据和关键指标变化 - 第三季度的RevPAR（每间可用房收入）同比增长3%，达到约178美元，主要受入住率提升2.5个百分点的推动 [42] - 酒店收入为6.57亿美元，酒店调整后的EBITDA为1.73亿美元，EBITDA利润率为26.3% [42] - 调整后的EBITDA为1.63亿美元，调整后的每股FFO（基金运营收入）为0.51美元，均超出预期 [44] 各条业务线数据和关键指标变化 - 组团业务的收入同比增长12%，达到超过9500万美元，预计2023年组团收入将达到2019年同期的93% [20] - 夏威夷的两家度假村RevPAR增长3.5%，其中希尔顿威基基村的RevPAR增长超过4% [23] - Casa Marina度假村的全面翻新导致其在第三季度的运营暂停，预计将对2023年的EBITDA产生1500万美元的影响 [34] 各个市场数据和关键指标变化 - 夏威夷市场的需求主要由国内休闲需求和强劲的组团趋势推动，预计第四季度RevPAR将实现低双位数的同比增长 [27] - 纽约市的可比城市组合RevPAR增长7%，希尔顿纽约中城酒店的RevPAR同比增长近30% [28] - 芝加哥的会议房间夜数预计将达到创纪录的786,000个房间夜，同比增长65% [32] 公司战略和发展方向和行业竞争 - 公司计划继续专注于运营卓越和资本配置，预计2024年将迎来强劲的增长，特别是在夏威夷和纽约等市场 [40] - 公司将继续出售非核心资产，并利用收益进行股票回购和投资于回报率项目 [61] - 预计2024年将是公司历史上组团收入的创纪录年份，特别是在芝加哥和新奥尔良等市场 [38] 管理层对经营环境和未来前景的评论 - 管理层对未来的展望持乐观态度，认为公司在多个市场的需求强劲，尤其是在夏威夷和纽约 [39] - 预计2024年将实现EBITDA的显著增长，管理层对未来的增长潜力充满信心 [40] - 管理层指出，尽管面临经济放缓的风险，但目前尚未看到对临时需求的显著影响 [31] 其他重要信息 - 公司宣布将支付每股0.77美元的特别现金股息，预计于2024年1月16日支付 [16] - 公司当前流动性约为17亿美元，其中现金为7.26亿美元，净债务为39亿美元 [46] - 预计2023年将向股东返还约6.25亿美元的资本，包括4.45亿美元的股息和1.8亿美元的股票回购 [49] 问答环节所有提问和回答 问题: 关于未来的资本回报计划 - 管理层表示，尽管有资本回报计划，但仍有大量现金，未来可能会进行更多的股票回购和收购 [58] 问题: 关于夏威夷市场的表现 - 管理层认为夏威夷市场的表现优于其他度假市场，预计日本游客的回归将进一步推动需求 [62] 问题: 关于芝加哥的物业税收益 - 管理层确认芝加哥的物业税收益未在之前的指导中提及，预计将对未来的财务表现产生积极影响 [112] 问题: 关于新奥尔良市场的长期前景 - 管理层对新奥尔良市场持乐观态度，认为该市场面临的挑战相对较小，未来有增长潜力 [117] 问题: 关于资产销售的计划 - 管理层表示将继续出售非核心资产，但会保持定价纪律，确保在合适的时机进行交易 [153]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to Commission File Number 001-37795 __________________ ...