Hotels Representing Over 30% of Park Hotels’ Operating Profit Affected by Strikes, According to UNITE HERE
Park Hotels & Resorts Inc. (PK)
Last park hotels & resorts inc. earnings: 2/26 04:15 pm
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Source: Business Wire
Major U.S. Hotel Owner, Key Driver of Service and Staffing Cuts, Has Multiple Properties Affected by Ongoing Strikes BOSTON--(BUSINESS WIRE)--A recent analysis found that hotels representing over 30% of Park Hotels and Resorts’ (NYSE: PK) hotel operating profit are impacted by ongoing U.S. hotel strikes. Park-owned hotels where workers with the UNITE HERE union are on strike generated nearly a third of its 2024 YTD hotel earnings before interest, taxes, depreciation, and amortization (EBITDA), the hotel industry’s standard measure of profitability.Park is a real estate investment trust (REIT) and the biggest private-sector owner of Hilton hotels. An analysis by UNITE HERE estimated that Park earned 32.2% of its EBITDA at four hotels where Hilton employees are on strike: the DoubleTree by Hilton Hotel Seattle Airport, Hilton Boston Logan Airport, Hilton Hawaiian Village, and Hilton Seattle Airport & Conference Center.Workers are calling for higher wages, fair staffing and workloads,
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News
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- Park Hotels & Resorts Inc. (NYSE: PK) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
PK
Earnings
- 10/29/24 - Beat
PK
Sec Filings
- 11/12/24 - Form 8-K
- 10/30/24 - Form 10-Q
- 10/29/24 - Form 8-K
- PK's page on the SEC website