Park Hotels Q4 FFO Surges 7.14%, $629M Revenue; $8M Stake Sold
Park Hotels & Resorts reported Q4 FFO of $0.51 per share, a 7.14% surprise over the $0.48 estimate, and revenues of $629 million exceeding consensus by 1.39%. Connecticut’s H/2 Credit Manager sold 741,040 shares valued at about $7.94 million, reducing its position value by $10.17 million.
1. Q4 Results
Park Hotels & Resorts delivered Q4 funds from operations of $0.51 per share, surpassing the $0.48 estimate by 7.14%, and posted revenues of $629 million, 1.39% above forecasts. FFO increased from $0.39 year-over-year, reflecting adjusted non-recurring items.
2. Operational Trend and Outlook
The REIT has topped consensus FFO estimates in three of the past four quarters and outperformed the S&P 500 by 9.3% year-to-date. Current consensus FFO forecasts for next quarter stand at $0.44 on $613.5 million in revenues, implying modest growth.
3. H/2 Credit Manager Stake Sale
Connecticut’s H/2 Credit Manager sold 741,040 shares in Q4, a transaction valued at approximately $7.94 million based on average pricing. The fund’s position value in Park Hotels & Resorts declined by $10.17 million, signaling a strategic reduction.