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Park Hotels & Resorts reports full year 2017 results

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Published on 05/03/18 - Updated on 17/03/22

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Park Hotels & Resorts

Hilton Hawaiian Village Beach Resort tops Park’s hotels with RevPAR growth of 3.3% for the quarter and 2.9% for the year.

Thomas J. Baltimore, Jr., Chairman, President and Chief Executive Officer, said: “We’ve made great strides in closing the margin gap with our peers, returned nearly $1 billion in cash and stock dividends to stockholders and have made tremendous progress on our capital recycling program through the sale of 12 non-core hotels for gross proceeds of $379 million.”

Full Year 2017 Highlights

• Comparable RevPAR was $163.49, an increase of 0.7% on a Pro-forma basis from the same period in 2016;

• Net income was $2,631 million and net income attributable to stockholders was $2,625 million;

• Adjusted EBITDA was $757 million. 

Top 10 Hotels

RevPAR for Park’s Top 10 Hotels, which accounts for approximately 65% of Hotel Adjusted EBITDA for the year, increased 0.3% for the quarter and declined 0.7% for the year, on a Pro-forma basis, as compared to the same periods in 2016. Top 10 Hotels include:

• Hilton Hawaiian Village Beach Resort;

• New York Hilton Midtown;

• Hilton San Francisco Union Square;

• Parc 55 San Francisco;

• Hilton Waikoloa Village;

• Hilton New Orleans Riverside;

• Hilton Chicago;

• Hilton Orlando Bonnet Creek;

• Waldorf Astoria Orlando;

• Casa Marina, a Waldorf Astoria Resort.

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