Park Hotels & Resorts Inc. Declares Q1 Dividend Following Q4 and Full-Year 2023 Results

TYSONS, Va., Feb. 27, 2024 – Park Hotels & Resorts Inc. PK ('Park' or the 'Company'), a notable entity in the hospitality real estate sector, has officially disclosed its financial achievements for both the fourth quarter and the entire year of 2023. In conjunction, the company revealed its plans for the forthcoming distribution of dividends.

Fourth Quarter Financial Highlights

The fourth quarter proved to be significant for Park, as they revealed an increase in revenues over the period. This is partly attributed to robust travel demand, leading to better occupancy rates and higher average daily rates across Park's portfolio of hotels and resorts.

Full-Year Earnings Overview

For the full year ended December 31, 2023, Park Hotels & Resorts Inc. observed noteworthy developments in their financial standings. These developments reflect the company's effective navigation through a year marked with challenges and opportunities within the hospitality industry. As part of a detailed financial summary, Park outlined its operational advancements and strategic initiatives that have been implemented to enhance shareholder value over the last twelve months.

Dividend Declaration

Adding to the positive news, Park Hotels & Resorts announced an upcoming dividend of $0.25 per share for the first quarter, showcasing their consistent commitment to providing shareholder returns. The dividend declaration is seen as a gesture of confidence in the company's financial stability and future outlook.

Operational Update

Park also took the opportunity to provide an update on its operations. The company's strategic efforts to improve efficiency and optimize its portfolio during the year have poised it for sustainable growth in the hospitality market. These efforts are expected to generate long-term value for its shareholders and fortify its position within the competitive landscape of hotel and resort ownership.

Tysons, Dividend, Earnings