Park Hotels & Resorts stock hits 52-week low at $12.56

Park Hotels & Resorts Inc . (NYSE:PK) stock has reached a new 52-week low, touching down at $12.56 amidst a challenging year for the hospitality sector. The company, which has grappled with the lingering effects of the pandemic on travel and tourism, has seen its stock price decline by 22.35% over the past year. This latest price level reflects investor concerns over the slow recovery pace and potential headwinds facing the industry, as Park Hotels & Resorts continues to navigate through an uncertain economic environment.

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, and exceeded revenue estimates by posting $625 million compared to the expected $610.3 million. These positive results highlight a strong quarter for the company as it continues to outperform market expectations. Additionally, Park Hotels & Resorts is undertaking major renovations, including a $100 million project at the Royal Palm Resort in Miami, aiming to enhance the property’s quality and guest experience.

The company plans to suspend operations at the Royal Palm Resort in May 2025, with a reopening anticipated before the World Cup in June 2026. In terms of future performance, Park Hotels & Resorts projects RevPAR growth of 0-3% for 2025 and anticipates an adjusted EBITDA between $610 million and $670 million. The company is also targeting $300-$400 million in non-core asset sales during the year. Analysts from firms like Evercore ISI and Compass Point discussed various aspects of the company’s strategy, including asset sales and debt refinancing plans. Despite the strong earnings report, the market reaction was muted, with the stock experiencing only a slight increase in after-hours trading.

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