NYSE$PK
Park Hotels & Resorts Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Park Hotels' Q3 2022 results were announced, demonstrating significant recovery driven by strong leisure demand and accelerating business transient demand.
Park Hotels & Resorts Inc. reported third-quarter 2022 results with a pro-forma RevPAR of $171.27, net income of $40 million, and adjusted EBITDA of $158 million. The company continued its capital recycling strategy, selling non-core assets and improving liquidity. Leisure demand remained strong, and business transient demand continued to accelerate.
- Pro-forma RevPAR increased by 61.7% year-over-year to $171.27, but decreased 8.8% compared to 2019.
- Pro-forma occupancy was 71.7%, a 1 percentage point increase from Q2 2022.
- Net income was $40 million, and diluted earnings per share was $0.15.
- Adjusted EBITDA was $158 million.
Headline financials
Revenue & EPS history
Park Hotels · Revenue · Quarterly
$662M
Revenue by segment
Park Hotels · $643M total across 3 segments · Q3 2022
- Rooms$428M+56.2%66.6%
- Food & Beverage$148M+94.7%23.0%
- Ancillary Hotel$67M+15.5%10.4%
Forward guidance
Park Hotels & Resorts expects fourth quarter RevPAR to be between $163 and $166, net income between $6 million and $20 million, and adjusted EBITDA between $140 million and $155 million.
Tailwinds
- RevPAR is expected to be between $163 and $166.
- Net income is projected to be between $6 million and $20 million.
- Adjusted EBITDA is anticipated to be between $140 million and $155 million.
- Hotel Adjusted EBITDA margin is expected to be between 24.0% and 25.0%.
- Adjusted FFO per share is forecasted to be between $0.35 and $0.43.
Headwinds
- RevPAR change vs. 2019 is expected to be between -9% and -7%.
- Hotel Adjusted EBITDA margin change vs. 2019 is expected to be between -520 bps and -420 bps.
- The outlook does not account for potential future acquisitions and dispositions.
- The outlook is subject to uncertainty surrounding new disruptions from the COVID-19 pandemic.
- The outlook is subject to macro-economic factors, including inflation and potential economic slowdown.
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro