Park Hotels & Resorts stock hits 52-week low at $11.49

Park Hotels & Resorts Inc . (NYSE:PK) stock has reached a new 52-week low, touching down at $11.49 amidst a challenging year for the hospitality sector. The company, which has been navigating through the headwinds of a post-pandemic recovery, has seen its stock price significantly retreat by 31.97% over the past year. This latest price level reflects investor concerns over travel demand and operational costs, as the industry grapples with a return to pre-pandemic norms. Park Hotels & Resorts, with its portfolio of properties, continues to adapt its strategies in an effort to rebound from the current lows and improve its market position.

In other recent news, Park Hotels & Resorts Inc. reported its fourth-quarter 2024 earnings, significantly surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $0.32, well above the forecasted $0.07. Revenue also exceeded projections, coming in at $625 million compared to the anticipated $610.3 million. Additionally, Park Hotels & Resorts is undertaking a $100 million renovation project at the Royal Palm Resort in Miami, aiming to enhance its guest experience and competitiveness in the market. Despite these positive developments, the stock saw only a modest increase in after-hours trading. The company has also set ambitious targets for 2025, including RevPAR growth of 0-3% and an adjusted EBITDA range of $610 million to $670 million. Park Hotels & Resorts plans to sell $300-$400 million in non-core assets to further improve its portfolio quality and reduce debt. These recent developments reflect the company’s ongoing efforts to strategically position itself for long-term growth.

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