Park Hotels & Resorts Inc. (NYSE:PK) Q4 2023 Earnings Call Transcript

We certainly thought Waikoloa would be a little bit softer coming into the year, and it’s performed really well. It’s picked up short term. I think there’s some benefits still from Maui displacement. We’re seeing for the first half of the year, airlift is positive into that market. It’s up 5% domestically and 50% up from Japan in the Big Island. And in Honolulu, while it’s down a little bit domestically, it’s up almost 100% for the first half as we look kind of forward bookings for airlines. So I think we feel pretty good about where we’ll kind of go for the first half of the year. I think just the back half of the year that kind of softens a little bit for that market. But I think going forward, if somebody asked about ’25 pace, Hawaii is up another 25%, Honolulu is up for another 25% and then Waikoloa is up 55% in ’25.

So I think you’re going to have a rebound here as well as you get into ’25 for these assets.

Operator: We have reached the end of our question-and-answer session. I would like to turn the conference back over to Tom Baltimore for closing remarks.

Thomas Baltimore: I appreciate all of you taking time today. Look forward to seeing many of you at the Citi Conference next week. Safe travels.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time, and thank you for your participation.