Park Hotels & Resorts Files 8-K on Financial Condition
Ticker: PK · Form: 8-K · Filed: Jan 22, 2024 · CIK: 1617406
Complexity: simple
Sentiment: neutral
Topics: financial-condition, results-of-operations, 8-K
TL;DR
**Park Hotels & Resorts just dropped an 8-K, likely with fresh financial results, so watch for potential stock moves.**
AI Summary
Park Hotels & Resorts Inc. filed an 8-K on January 22, 2024, to report on its financial condition and operations. This filing, under the Securities Exchange Act of 1934, indicates that the company is providing an update on its business performance. For investors, this matters because it signals that new financial information is available, which could influence the stock's valuation and future prospects, potentially leading to price movements based on the disclosed results.
Why It Matters
This filing indicates that Park Hotels & Resorts Inc. is providing updated financial information, which is crucial for investors to assess the company's current health and future outlook.
Risk Assessment
Risk Level: low — This 8-K is a routine disclosure of financial information, which is generally a low-risk event unless the disclosed information itself contains significant negative news.
Analyst Insight
A smart investor would review the full contents of the 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits' once they are publicly available to understand the company's performance before making any investment decisions.
Key Numbers
- 001-37795 — Commission File Number (identifies the company's filings with the SEC)
- 36-2058176 — IRS Employer Identification No. (unique tax identification number for the company)
- 1775 Tysons Blvd., 7th Floor, Tysons, VA 22102 — Business Address (principal executive offices of Park Hotels & Resorts Inc.)
- (571) 302-5757 — Registrant’s Telephone Number (contact number for Park Hotels & Resorts Inc.)
Key Players & Entities
- Park Hotels & Resorts Inc. (company) — the registrant filing the 8-K
- January 22, 2024 (date) — date of earliest event reported and filing date
- Delaware (company) — state of incorporation for Park Hotels & Resorts Inc.
- 001-37795 (dollar_amount) — Commission File Number
- 36-2058176 (dollar_amount) — IRS Employer Identification No.
Forward-Looking Statements
- Park Hotels & Resorts Inc. will release detailed financial results for the period ending December 31, 2023, shortly after this 8-K. (Park Hotels & Resorts Inc.) — high confidence, target: 2024-02-15
- The stock price of Park Hotels & Resorts Inc. (PK) will experience volatility as investors react to the newly disclosed financial information. (PK) — medium confidence, target: 2024-01-23
FAQ
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is Park Hotels & Resorts Inc., as stated in the filing.
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing was January 22, 2024, according to the 'Date of Report' section.
Under which Act is this current report filed?
This current report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is the state or other jurisdiction of incorporation for Park Hotels & Resorts Inc.?
Park Hotels & Resorts Inc. is incorporated in Delaware, as indicated in the filing.
What are the specific items of information included in this 8-K filing?
The ITEM INFORMATION section of the filing lists 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits' as the items included.
Filing Stats: 614 words · 2 min read · ~2 pages · Grade level 9.7 · Accepted 2024-01-22 07:01:24
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share PK New York Stock E
Filing Documents
- pk-20240122.htm (8-K) — 27KB
- a991preliminaryearnings.htm (EX-99.1) — 28KB
- a991preliminaryearnings001.jpg (GRAPHIC) — 189KB
- a991preliminaryearnings002.jpg (GRAPHIC) — 288KB
- a991preliminaryearnings003.jpg (GRAPHIC) — 113KB
- a991preliminaryearnings004.jpg (GRAPHIC) — 109KB
- a991preliminaryearnings005.jpg (GRAPHIC) — 122KB
- a991preliminaryearnings006.jpg (GRAPHIC) — 119KB
- a991preliminaryearnings007.jpg (GRAPHIC) — 238KB
- a991preliminaryearnings008.jpg (GRAPHIC) — 257KB
- a991preliminaryearnings009.jpg (GRAPHIC) — 150KB
- 0001617406-24-000004.txt ( ) — 2378KB
- pk-20240122.xsd (EX-101.SCH) — 2KB
- pk-20240122_lab.xml (EX-101.LAB) — 25KB
- pk-20240122_pre.xml (EX-101.PRE) — 13KB
- pk-20240122_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On January 22, 2024 , Park Hotels & Resorts, Inc. (the "Company") issued a press release announcing preliminary results for the quarter and year ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this report. The press release is based on preliminary estimates of certain operating results for the three months and year ended December 31, 2023. The Company currently intends to release its finalized year-end earnings results after the market closes on February 27, 2024, and management will hold a conference call to discuss the results at 11 a.m. Eastern Time on February 28, 2024. In accordance with General Instructions B.2 of Form 8-K, the information included in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1 hereto) shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release dated January 22, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Park Hotels & Resorts Inc. Date: January 22, 2024 By: /s/ Sean M. Dell'Orto Sean M. Dell'Orto Executive Vice President, Chief Financial Officer and Treasurer