Park Hotels & Resorts, Inc. (NYSE:PK) Q4 2023 Results Conference Call February 28, 2024 11:00 AM ET
Company Participants
Ian Weissman - Senior Vice President, Corporate Strategy
Thomas Baltimore - Chairman, President & CEO
Sean Dell'Orto - Chief Financial Officer & Treasurer
Conference Call Participants
Floris Van Dijkum - Compass Point
Dany Asad - Bank of America
Smedes Rose - Citi
Charles Scholes - Truist Securities
Duane Pfennigwerth - Evercore ISI
Dori Kesten - Wells Fargo
Jay Kornreich - Wedbush Securities
Anthony Powell - Barclays
David Katz - Jefferies
Bill Crow - Raymond James
Chris Darling - Green Street Advisors
Keegan Carl - Wolfe Research
Operator
Greetings, and welcome to the Park Hotels & Resorts, Inc. Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.
I will now turn the conference over to Ian Weissman, Senior Vice President of Corporate Strategy. Thank you. You may begin.
Ian Weissman
Thank you, operator, and welcome, everyone, to the Park Hotels & Resorts fourth quarter and full year 2023 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. 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 the 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 financial information available on our website at pkhotelsandresorts.com.
Additionally, unless otherwise stated, all operating results will be presented on a comparable hotel basis with a comparable view excluding the two Hilton San Francisco hotel. This morning, Tom Baltimore, our Chairman and Chief Executive Officer; will provide a review of Park's fourth quarter performance and the outlook for 2024. Sean Dell'Orto, our Chief Financial Officer, will provide additional color on fourth quarter results, an update on our balance sheet and liquidity and further details on guidance. Following our prepared remarks, we will open the call for questions.