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In a challenging year for the hospitality sector, Park Hotels & Resorts Inc (NYSE:PK). stock has touched a 52-week low, dipping to $12.22. The company, which has grappled with the lingering effects of the pandemic on travel and tourism, has seen a significant downturn in its stock value. Over the past year, Park Hotels & Resorts has experienced a decline of 29.68%, reflecting investor concerns about the speed of recovery in the hotel industry and potential headwinds facing the sector. This latest price level underscores the volatility and the pressures faced by hospitality companies as they navigate a path to recovery in a still uncertain global economic landscape.
In other recent news, Park Hotels & Resorts Inc. announced its fourth-quarter 2024 earnings, significantly surpassing Wall Street expectations. The company reported an earnings per share (EPS) of $0.32, well above the forecasted $0.07, and achieved revenue of $625 million, exceeding the anticipated $610.3 million. Additionally, Park Hotels & Resorts is undertaking a substantial $100 million renovation project at the Royal Palm Resort in Miami, aiming to enhance the property’s quality and guest experience. Despite the positive financial results, the company’s stock saw only a modest increase in after-hours trading. Looking ahead, Park Hotels & Resorts has projected RevPAR growth of 0-3% for 2025 and anticipates an adjusted EBITDA between $610 million and $670 million. The company also plans to sell $300-$400 million in non-core assets in 2025. Analyst notes from firms such as Compass Point and Evercore ISI indicate a focus on the company’s asset sales and refinancing strategies. These developments highlight Park Hotels & Resorts’ continued efforts to optimize its portfolio and enhance shareholder value.
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