Park Hotels & Resorts Announces Third Quarter Dividend of $0.01 Per Share
September 09 2022 - 4:15PM
Park Hotels & Resorts Inc. (NYSE: PK) (“Park” or the “Company”)
announced today that the Company has declared a third quarter cash
dividend of $0.01 per share of common stock. The dividend will be
paid in cash on October 17, 2022 to stockholders of record as of
September 30, 2022.
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.
Currently, one of the most significant factors continues to be the
adverse effect of COVID-19, including actions taken to contain the
pandemic or mitigate its effects, the emergences of virus variants
and resurgences, on the Company’s financial condition, results of
operations, cash flows and performance, its hotel management
companies and its hotels’ tenants, and the global economy and
financial markets. Investors are cautioned to interpret many of the
risks identified in the risk factors included in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2021 as
being heightened as a result of the ongoing and numerous adverse
effects of COVID-19.
Forward-looking statements involve risks, uncertainties and
assumptions. Actual results may 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.
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 49 premium-branded hotels and
resorts with over 30,000 rooms primarily located in prime city
center and resort locations. Visit www.pkhotelsandresorts.com for
more information.
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
at www.pkhotelsandresorts.com
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