Park Hotels & Resorts Raises FY23 AFFO Outlook From $1.76-$2.02 To $1.92-$2.03
Portfolio Pulse from Benzinga Newsdesk
Park Hotels & Resorts has raised its FY23 AFFO outlook from $1.76-$2.02 to $1.92-$2.03. The company is not providing a full year 2023 outlook for net income, net income attributable to stockholders, earnings per share, operating income and operating income margin due to the Hilton San Francisco Hotels being placed into receivership. However, this is not expected to materially affect Park's outlook for Adjusted EBITDA, Hotel Adjusted EBITDA, Hotel Adjusted EBITDA margin, Adjusted FFO or Adjusted FFO per share.
November 01, 2023 | 8:46 pm
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NEUTRAL IMPACT
Park Hotels & Resorts has raised its FY23 AFFO outlook, which could potentially lead to a positive market reaction. However, the lack of a full year 2023 outlook for several key metrics due to the Hilton San Francisco Hotels receivership could introduce uncertainty.
The raised FY23 AFFO outlook is a positive signal, indicating that Park Hotels & Resorts expects stronger cash flows. However, the lack of a full year 2023 outlook for several key metrics due to the Hilton San Francisco Hotels receivership introduces uncertainty, which could potentially impact the stock price. The net effect on the stock price is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100