Park Hotels & Resorts reinstated 2024 earnings guidance after ending a six-week hotel workers' strike.

Park Hotels & Resorts Inc. reinstated its 2024 earnings guidance after labor agreements were finalized at four of its hotels in Hawaii, Seattle, and Boston, ending a six-week strike. The company expects demand to accelerate through the holiday season but anticipates a negative impact of 600 to 700 basis points on Comparable RevPAR growth in Q4 due to recovery from the strike. The outlook includes a Comparable RevPAR growth of 1.5% to 4.5% and an adjusted EBITDA per share of $2.00 to $2.26 for the year.

November 11, 2024
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