Park Hotels & Resorts Inc. (NYSE:PK) Q3 2022 Earnings Conference Call November 3, 2022 11:00 PM ET
Company Participants
Ian Weissman - Senior Vice President of Corporate Strategy
Tom Baltimore - Chairman & Chief Executive Officer
Sean Dell'Orto - Chief Financial Officer
Conference Call Participants
Smedes Rose - Citi
Dany Asad - Bank of America
Dori Kesten - Wells Fargo
Anthony Powell - Barclays
Duane Pfennigwerth - Evercore ISI
Chris Woronka - Deutsche Bank
Neil Malkin - Capital One Securities
Robin Farley - UBS
Patrick Scholes - Truist
Bill Crow - Raymond James
Jay Kornreich - SMBC
Chris Darling - Green Street
Operator
Ladies and gentlemen, greetings and welcome to the Park Hotels & Resorts Inc. Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Ian Weissman, Senior VP, Corporate Strategy. Please go ahead, sir.
Ian Weissman
Thank you, operator, and welcome everyone to the Park Hotels & Resorts third quarter 2022 earnings call.
Before we begin, I would like to remind everyone that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed and we are not obligated to publicly update or revise these forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements.
Note also that all comparisons to prior year periods are on a pro forma basis. Please refer to the documents filed by Park with the SEC, specifically the most recent reports on Form 10-K and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements.
In addition, on today's call, we will discuss certain non-GAAP financial information, such as FFO and adjusted EBITDA. You can find this information together with reconciliations to the most directly comparable GAAP financial measure in yesterday's earnings release, as well as in our 8-K filed with the SEC and the supplemental information available on our website at pkhotelsandresorts.com.
This morning, Tom Baltimore, our Chairman and Chief Executive Officer will provide a review of Park's third quarter performance, an outline of Park's strategic priorities and an outlook for the balance of this year. Sean Dell'Orto, our Chief Financial Officer will provide additional color on third quarter results, an update on our balance sheet and liquidity, and guidance for the fourth quarter. Following our prepared remarks, we will open the call for questions.