Park Hotels & Resorts Inc. (PK), Tuesday announced its fourth-quarter report, which revealed an increase in its adjusted funds from operations to $110 million or $0.52 per share from $101 million or $0.45 per share in previous year.
Nareit FFO stood at $59 million or $0.28 per share versus $90 million or $0.40 per share last year.
Earnings increased to $187 million or $0.89 a share from last year's $34 million or $0.15 a share. However, analysts polled by Thomson Reuters had estimated a profit of $0.16 per share for the quarter.
Revenue totaled $657 million compared to $665 million in year ago quarter.
Looking forward, the company expects a profit of $0.64 to $0.83 per share, and an adjusted FFO of $2.02 to $2.22 per share for the fiscal year 2024.
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