NYSE$PK
Park Hotels & Resorts Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Park Hotels & Resorts Inc. reported first quarter results, demonstrating significant RevPAR growth and improved financial performance compared to the same period last year.
Park Hotels & Resorts Inc. announced its first quarter 2022 results, highlighting a RevPAR increase of 181.7% compared to Q1 2021 and a net loss improvement of 70.7%. The company's Adjusted EBITDA was $82 million, and Hotel Adjusted EBITDA reached $89 million. The company also repurchased 3.4 million shares of common stock and reinstated its quarterly cash dividend.
- RevPAR increased by 181.7% compared to the same period in 2021, reaching $116.42.
- Net loss improved by 70.7% compared to the same period in 2021, with a net loss of $(56) million.
- Adjusted EBITDA was $82 million, reflecting a positive shift from the previous year.
- The company reopened the Hilton Short Hills, NJ, and anticipates reopening the Parc 55 San Francisco - a Hilton Hotel, on May 19, 2022.
Headline financials
Revenue & EPS history
Park Hotels · Revenue · Quarterly
$479M
Revenue by segment
Park Hotels · $463M total across 3 segments · Q1 2022
- Rooms$292M+175.5%63.1%
- Food & Beverage$110M+400.0%23.8%
- Ancillary Hotel$61M+110.3%13.2%
Forward guidance
Park's outlook for Q2 2022 anticipates continued recovery with RevPAR between $160 and $164, and net income between $16 and $36 million.
Tailwinds
- RevPAR is projected to grow between 104% and 109% compared to 2021.
- Net income is expected to be between $16 million and $36 million.
- Adjusted EBITDA is forecasted to be between $160 million and $180 million.
- Adjusted FFO per share is anticipated to be between $0.40 and $0.49.
- Hotel Adjusted EBITDA margin change vs. 2021 is expected to be between 1,320 bps and 1,470 bps.
Headwinds
- Q2 2022 outlook is based on many factors, many of which are outside the Company's control, including uncertainty surrounding any new disruptions from the COVID-19 pandemic, and all of which are subject to change.
- RevPAR growth vs 2019 is expected to be between (16)% and (14)%.
- Hotel Adjusted EBITDA margin change vs. 2019 is expected to be between (390) bps and (240) bps.
- The Company continues to be unable to provide a full-year outlook for 2022 given the continued economic uncertainty as the global economy continues to recover from the COVID-19 pandemic.
- Outlook does not take into account potential future acquisitions and dispositions, including those currently under contract, which could result in a material change to Park’s outlook.
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 2022
-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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