Park Hotels & Resorts Boosts Q2 Outlook

(RTTNews) - While providing an operational update on Monday, Park Hotels & Resorts Inc. (PK) raised its outlook for the second quarter, based upon improving demand.

For the second quarter, the company now projects earnings in a range of $0.13 to $0.22 per share and adjusted FFO in a range of $0.47 to $0.56 per share.

Previously, the company expected earnings in the range of $0.05 to $0.14 per share and adjusted FFO in the range of $0.40 to $0.49 per share.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $0.12 per share for the quarter. Analysts' estimates usually exclude special items.

RevPAR for the quarter is now expected in a range of $169 to $173, up from the prior range of $160 to $164.

The Company said it continues to be unable to provide a full-year outlook for 2022 given the continued economic uncertainty as the global economy continues to recover from the COVID-19 pandemic and the impact from other macroeconomic factors.

However, if the positive demand trends continue over the next few months, the Company anticipates being able to provide a full-year 2022 outlook in its second quarter earnings release.