Park Hotels & Resorts Inc. Announces Fourth Quarter Dividend of $0.25 Per Share
07 Dicembre 2022 - 10:15PM
Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”)
announced today that the Company has declared a fourth quarter cash
dividend of $0.25 per share of common stock. The dividend will be
paid in cash on January 17, 2023 to holders of record as of
December 30, 2022. Of the full $0.25 per share dividend, $0.12 per
share represents the fourth quarter payment based on 2022 results
of operations, while the remaining $0.13 per share is attributable
to gains from the sale of Park’s assets during 2022.
About Park Hotels &
ResortsPark is the second largest publicly traded
lodging REIT with a diverse portfolio of market-leading hotels and
resorts with significant underlying real estate value. Park’s
portfolio currently consists of 47 premium-branded hotels and
resorts with approximately 30,000 rooms primarily located in prime
city center and resort locations. Visit www.pkhotelsandresorts.com
for more information.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, but are not limited
to, statements related to Park’s current expectations regarding the
performance of its business, financial results, liquidity and
capital resources, including expected dates that its hotels will
break even or achieve positive Hotel Adjusted EBITDA, the impact to
the Company's business and financial condition and that of its
hotel management companies, measures being taken in response to
COVID-19, the impact from macroeconomic factors (including
inflation, increases in interest rates, potential economic slowdown
or a recession and geopolitical conflicts), the effects of
competition and the effects of future legislation or regulations,
the expected completion of anticipated dispositions, the
declaration and payment of future dividends and other
non-historical statements. Forward-looking statements include all
statements that are not historical facts, and in some cases, can be
identified by the use of forward-looking terminology such as the
words “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates,” “hopes” or the
negative version of these words or other comparable words. You
should not rely on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond the Company’s control and which could
materially affect its results of operations, financial condition,
cash flows, performance or future achievements or events.
Forward-looking statements are based on current expectations of
management and therefore involve estimates and assumptions that are
subject to risks, uncertainties and other factors that could cause
actual results to differ materially from those expressed in these
forward-looking statements. You should not put undue reliance on
any forward-looking statements and Park urges investors to
carefully review the disclosures Park makes concerning risk and
uncertainties in Item 1A: “Risk Factors” in Park’s Annual Report on
Form 10-K for the year ended December 31, 2021, as such factors may
be updated from time to time in Park’s filings with the SEC, which
are accessible on the SEC’s website at www.sec.gov. Except as
required by law, Park undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
For more information, contact:Ian
WeissmanSenior Vice President, Corporate
Strategy571-302-5591iweissman@pkhotelsandresorts.com
For additional information or to receive press
releases via e-mail, please visit our website
atwww.pkhotelsandresorts.com
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