PK - A Fresh Look At A Travel Favorite: Park Hotels & Resorts
- US Tourism demand for 2021 is slated to rise 33.4%, with an additional 14.4% added in 2022. Hotel RevPAR outlook is +47.3% for 2021, with an additional 19.7% in 2022.
- COVID rates are dropping in Park's key US markets: Honolulu, Kona, San Francisco, New York City, Miami, Orlando, Key West, Boston, and Washington DC.
- Park's recent hotel sales ($477 million) have deleveraged its portfolio. Total quarterly payments for non-mortgage debt ($36.156 million) are now a miniscule 1.4% of total assets valued at $10.266 billion.
- The real estate value of Park's trophy hotels in key travel locations has been maintained throughout the Pandemic. A COVID discount for distressed hotel assets never materialized.
- Park's large and expensive hotels in Honolulu (Waikiki beach), Kona (Waikoloa), and Florida should see a dramatic rise in occupancy this winter, as vacationers return to Disney World and the Hawaiian and Florida beaches.
For further details see:
A Fresh Look At A Travel Favorite: Park Hotels & Resorts