Free Research Report as Park Hotels’ Q4 Results Beat Market Estimates

Stock Monitor: Red Lion Hotels Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 16, 2018 / Active-Investors.com has just released a free earnings report on Park Hotels & Resorts Inc. (NYSE: PK) ("Park Hotels"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PK. The Company released its financial results on March 01, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's total revenues, adjusted funds from operations (AFFO), and diluted earnings per share (EPS) growth beat market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Red Lion Hotels Corporation (NYSE: RLH), which also belongs to the Services sector as the Company Park Hotels & Resorts. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=RLH

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Park Hotels & Resorts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=PK

Earnings Highlights and Summary

Park Hotels reported total revenues of $686 million in Q4 FY17, which grew from $670 million in Q4 FY16. The Company's total revenue numbers for the reported quarter beat market consensus estimates of $671 million. During the reported quarter, the Company's room revenues came in at $433 million versus $434 million in the year ago comparable quarter. The Company's food and beverage revenues rose to $187 million in Q4 FY17 from $183 million in Q4 FY16. The Company's Ancillary Hotel revenues stood at $49 million in the reported quarter, up from $47 million in Q4 FY16. Furthermore, the Company's other revenues were $17 million in Q4 FY17 compared to $6 million in Q4 FY16.

The hotel and resort real estate investment trust reported a net income attributable to stockholders of $60 million, or $0.28 per diluted share, in Q4 FY17 compared to $17 million, or $0.09 per diluted share, in the previous year's corresponding quarter. Meanwhile, the Company's AFFO increased to $145 million, or $0.68 per diluted share, in Q4 FY17 from $140 million, or $0.72 per diluted share, in Q4 FY16. Moreover, Wall Street had expected the Company to report AFFO of $0.63 per diluted share.

For the full year FY17, the McLean, Virginia-based Company's total revenues were $2.79 billion compared to $2.73 billion in FY16. The Company posted a net income attributable to stockholders of $2.63 billion, or $12.21 per diluted share, in FY17 compared to $133 million, or $0.67 per diluted share, in FY16. Additionally, the Company's AFFO came in at $596 million, or $2.78 per diluted share, in FY17 versus $522 million, or $2.97 per diluted share, in FY18.

Operating Metrics

For Q4 FY17, the Company's room expenses were $115 million compared to $114 million in the last year's same quarter. The Company's food and beverage expenses were $128 million in Q4 FY17. The Company's total operating costs and expenses increased to $622 million in Q4 FY17 from $583 million in Q4 FY16. The Company's operating income was $65 million in the reported quarter compared to $87 million in the year ago same quarter.

The Company's comparable revenue per available room (RevPAR) increased 1.7% to $159.50 y-o-y in Q4 FY17 from $156.85 in the prior year's comparable quarter. The comparable occupancy rate was 78.7% in Q4 FY17 versus 78.3% in Q4 FY16. Park Hotels' comparable average daily rate (ADR) increased 1.1% to $202.57 in Q4 FY17 from $200.40 in Q4 FY16. Furthermore, the Company's comparable hotel adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) margin came in at 27.8% of revenues in Q4 FY17 compared to 27.1% of revenues in Q4 FY16.

Cash Flow and Balance Sheet

For FY17, the Company's net cash provided by operating activities was $653 million compared to $399 million in FY16. Park Hotels had cash and cash equivalents and restricted cash worth $379 million at the close of its books as on December 31, 2017, compared to $350 million as on December 31, 2016. The Company had reported a debt of $2.96 billion as on December 31, 2017, compared to $3.01 billion as on December 31, 2016.

Dividend

On February 23, 2018, Park Hotels declared a cash dividend of $0.43 per share for the first quarter of FY18, to be paid on April 16, 2018, to stockholders of record as of March 30, 2018.

Outlook

In its outlook for the full year FY18, the Company has forecasted comparable RevPAR growth to be in the range of 0% to 2%. The Company's adjusted EBITDA is anticipated to be in the range of $705 million to $745 million for the year ending December 31, 2018. The Company's adjusted diluted EPS is expected to be between $1.05 and $1.20 for FY18. Furthermore, Park Hotels' AFFO per diluted share is projected to be in the range of $2.59 to $2.75 for FY18.

Stock Performance Snapshot

April 13, 2018 - At Friday's closing bell, Park Hotels & Resorts' stock advanced 1.68%, ending the trading session at $27.89.

Volume traded for the day: 3.71 million shares, which was above the 3-month average volume of 2.58 million shares.

Stock performance in the last month – up 3.14%; and past twelve-month period – up 5.76%

After last Friday's close, Park Hotels & Resorts' market cap was at $5.97 billion.

Price to Earnings (P/E) ratio was at 25.45.

The stock has a dividend yield of 6.17%.

The stock is part of the Services sector, categorized under the Lodging industry.

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