Gold prices edge up amid Fed rate cut hopes; US-Russia talks awaited
In a challenging year for the hospitality sector, Park Hotels & Resorts Inc (NYSE:PK). stock has touched a 52-week low, dipping to $12.71. The company, which has grappled with the lingering effects of the pandemic on travel and tourism, has seen its stock price reflect investor concerns. Over the past year, Park Hotels & Resorts has experienced a notable decline, with its stock value decreasing by 11.84%. This downturn highlights the broader struggles within the industry as it continues to navigate an uncertain recovery path.
In other recent news, Park Hotels & Resorts has been the focus of several key developments. UBS expressed concerns over Park Hotels’ financial outlook, citing issues in Hawaii and New York City that could impact EBITDA. The firm adjusted its EBITDA projections for Park Hotels downward by 3-4% for fiscal year 2025, due to challenges in Hawaii’s tourism industry and expected labor cost increases in New York City.
In contrast, Citi analysts maintained their Buy rating for Park Hotels, despite acknowledging significant disruption expected at the Royal Palm Miami due to renovations in 2025. They adjusted their EBITDA projection for 2025 to $666 million, a slight decrease from the previously forecasted $673 million.
On the positive side, Park Hotels announced a fourth-quarter dividend of $0.65 per share, which includes a regular quarterly dividend of $0.25 and an additional $0.40 top-off dividend. This announcement reflects the company’s 2024 operating results.
UBS also revised its financial model for Park Hotels, raising the price target to $15.00 from the previous $14.00, while maintaining a Neutral rating on the stock. This adjustment followed Park Hotels’ third-quarter earnings report and the finalization of long-term labor agreements at several key properties.
These recent developments highlight the dynamic and evolving landscape for Park Hotels & Resorts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.