Park Hotels & Resorts Inc. Withdraws 2020 Outlook Due to Increased Uncertainty About Scope of COVID-19 Impact
Park Hotels & Resorts Inc. (PK)
Last park hotels & resorts inc. earnings: 2/26 04:15 pm
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pkhotelsandresorts.com
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Source: Business Wire
TYSONS, Va.--(BUSINESS WIRE)--Park Hotels & Resorts Inc. (NYSE: PK) (the “Company” or “Park”) today announced that it is has withdrawn its previously announced 2020 outlook amid growing concerns about the COVID-19 virus outbreak. Since providing guidance nearly two weeks ago, Park has experienced a material increase in the number of corporate group cancellations. Additionally, increasing travel restrictions, governmental travel advisories and state of emergency declarations across several of our key markets are expected to adversely impact the Company’s financial results for the full year 2020.On February 26, 2020, as part of the Company's full-year 2019 earnings press release, Park provided full-year 2020 guidance which included approximately $8 million of lost rooms revenues resulting primarily from known group customer cancellations related to COVID-19. Largely over the last week, the Company has experienced a material increase in expected lost rooms revenue from group customer
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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