NYSE$PK
Park Hotels & Resorts Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Park Hotels & Resorts Inc. reported first quarter results and provided an operational update on COVID-19.
Park Hotels & Resorts Inc. reported a pro-forma RevPAR of $40.79, a decrease of 70.0% from the same period in 2020. The company's net loss was $(191) million, and Adjusted EBITDA was $(49) million. The company is seeing improvement in leisure traveler sentiment, and as a result, an improvement in occupancy, ADR and RevPAR in recent months.
- Pro-forma RevPAR was $40.79, a decrease of 70.0% from the same period in 2020.
- Pro-forma Occupancy for Park’s 42 consolidated hotels open during the entirety of the first quarter was 37.4%.
- Net loss and net loss attributable to stockholders were $(191) million and $(190) million, respectively.
- Adjusted EBITDA was $(49) million.
Headline financials
Revenue & EPS history
Park Hotels · Revenue · Quarterly
$165M
Revenue by segment
Park Hotels · $157M total across 3 segments · Q1 2021
- Rooms$106M-70.7%67.5%
- Ancillary Hotel$29M-49.1%18.5%
- Food & Beverage$22M-86.3%14.0%
Forward guidance
Park currently expects its portfolio to generate positive Hotel Adjusted EBITDA during the second quarter of 2021 and expects to reach break-even at the corporate level during the second half of 2021.
Tailwinds
- Continued distribution of the COVID-19 vaccines.
- Forecasts for robust economic growth and fiscal stimulus.
- Significant pent-up traveler demand.
- Portfolio expected to generate positive Hotel Adjusted EBITDA during the second quarter of 2021.
- Expects to break-even at the corporate level during the second half of 2021.
Headwinds
- Continued economic uncertainty.
- Travel restrictions.
- Rapidly changing circumstances related to the COVID-19 pandemic.
- Trends affecting the economy will continue to depress hotel operating results across the portfolio.
- Economic environment lacks sufficient clarity at this time to provide accurate guidance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-1.5%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
37%
15 / 41 earnings
Positive
+11.8%
Q3 2023
Best reaction
-16.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.6% | +0.3% | +7.1% | |
| Q4 2025 | -1.3% | -1.4% | -10.1% | |
| Q3 2025 | -4.8% | -6.0% | +0.8% | |
| Q1 2025 | -1.2% | +1.2% | -1.9% | |
| Q4 2024 | -0.5% | -5.7% | -14.7% | |
| Q3 2024 | +0.7% | -0.9% | +11.5% | |
| Q2 2024 | -2.5% | -9.8% | +1.0% | |
| Q1 2024 | -4.2% | -3.5% | -6.7% | |
| Q4 2023 | +6.0% | +9.4% | +9.8% | |
| Q3 2023 | +11.8% | +16.7% | +29.6% | |
| Q2 2023 | -5.3% | -1.8% | -5.2% | |
| Q1 2023 | +1.9% | +7.4% | +7.4% | |
| Q4 2022 | +3.3% | +3.9% | -16.6% | |
| Q3 2022 | -9.0% | -9.4% | -4.1% | |
| Q2 2022 | -1.0% | -0.5% | -8.3% | |
| Q1 2022 | -1.1% | -2.1% | -5.6% | |
| Q4 2021 | -4.1% | -7.2% | -5.8% | |
| Q3 2021 | +0.7% | +6.7% | -14.2% | |
| Q2 2021 | +7.7% | +6.9% | +7.2% | |
| Q1 2021 | +1.2% | -1.5% | -7.1% | |
| Q4 2020 | -3.1% | -7.1% | -2.6% | |
| Q3 2020 | -1.7% | +37.2% | +73.1% | |
| Q2 2020 | -3.7% | +13.6% | +22.1% | |
| Q1 2020 | -16.4% | -16.2% | +46.8% | |
| Q4 2019 | -9.0% | -9.3% | -57.7% | |
| Q3 2019 | -3.5% | -6.5% | +0.9% | |
| Q2 2019 | -5.0% | -9.5% | -12.3% | |
| Q1 2019 | -5.4% | -6.8% | -16.8% | |
| Q4 2018 | -0.4% | +1.3% | -0.9% | |
| Q3 2018 | +1.2% | +2.0% | +6.0% | |
| Q2 2018 | +4.2% | +3.7% | +6.9% | |
| Q1 2018 | +2.6% | +4.3% | +13.5% | |
| Q4 2017 | -6.0% | +0.6% | +4.0% | |
| Q4 2015 | -6.0% | +0.6% | +4.0% | |
| Q3 2016 | +0.7% | +0.8% | -0.8% | |
| Q3 2017 | +0.5% | +1.1% | -0.4% | |
| Q2 2016 | -0.7% | -1.4% | +1.0% | |
| Q2 2017 | -3.9% | -1.5% | -0.7% | |
| Q4 2016 | +0.2% | -1.8% | +4.4% | |
| Q1 2016 | +0.2% | -1.8% | +4.4% | |
| Q1 2017 | -0.6% | -3.4% | +4.1% | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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