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Park Hotels & Resorts (Park Hotels & Resorts) Property, Plant and Equipment : $7,656 Mil (As of Dec. 2023)


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What is Park Hotels & Resorts Property, Plant and Equipment?

Park Hotels & Resorts's quarterly net PPE increased from Jun. 2023 ($8,207 Mil) to Sep. 2023 ($8,229 Mil) but then declined from Sep. 2023 ($8,229 Mil) to Dec. 2023 ($7,656 Mil).

Park Hotels & Resorts's annual net PPE declined from Dec. 2021 ($8,721 Mil) to Dec. 2022 ($8,515 Mil) and declined from Dec. 2022 ($8,515 Mil) to Dec. 2023 ($7,656 Mil).


Park Hotels & Resorts Property, Plant and Equipment Historical Data

The historical data trend for Park Hotels & Resorts's Property, Plant and Equipment can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Park Hotels & Resorts Property, Plant and Equipment Chart

Park Hotels & Resorts Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Property, Plant and Equipment
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9,842.00 9,422.00 8,721.00 8,515.00 7,656.00

Park Hotels & Resorts Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Property, Plant and Equipment Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8,515.00 8,408.00 8,207.00 8,229.00 7,656.00

Park Hotels & Resorts Property, Plant and Equipment Calculation

Property, Plant and Equipment (PPE) are the fixed assets of the companyFixed assets are also known as non-current assets.

Property, plant, and equipment includes assets that will - in the normal course of business - neither be used up in the next year nor will become a part of any product sold to customers.

Some of the most common parts of property, plant, and equipment are:


Land
Buildings (and leasehold improvements)
Transportation equipment
Manufacturing equipment
Office equipment
Office furniture

Companies with lots of property, plant, and equipment often have special categories. For example, railroad property includes:


Track
Ties
Ballast
Bridges
Tunnels
Signals
Locomotives
Freight Cars

There is often a note in the financial statements - found in a company's 10-K - that will explain the different categories of property a company owns.

The market value of property, plant, and equipment can differ tremendously from the book value of property, plant, and equipment.

For example, when Berkshire Hathaway liquidated its textile mills, it had to pay the buyers of the company's manufacturing equipment to haul the equipment away. That property, plant, and equipment was literally worth less than zero. On the other hand, some companies own thousands of acres of land.

All property, plant, and equipment other than land is depreciated. Land is never depreciated. However, land is not marked up to market value either. Under Generally Accepted Accounting Principles (GAAP), land is shown on the balance sheet at cost.

The property, plant, and equipment line shown on the balance sheet is usually net property, plant, and equipment. This means it is the cost of the property, plant, and equipment less accumulated depreciation.


Park Hotels & Resorts  (NYSE:PK) Property, Plant and Equipment Explanation

A company with durable competitive advantage doesn't need to constantly upgrade its equipment to stay competitive. The company replaces when it wears out. On the other hand, a company without any advantages must replace to keep pace.

Difference between a company with a moat and one without is that the company with the competitive advantage finances new equipment through internal cash flows, whereas the no advantage company requires debt to finance.

Producing a consistent product that doesn't change equates to consistent profits. There is no need to upgrade plants which frees up cash for other ventures. Think Coca Cola, Johnson & Johnson etc.


Park Hotels & Resorts Property, Plant and Equipment Related Terms

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Park Hotels & Resorts (Park Hotels & Resorts) Business Description

Industry
Traded in Other Exchanges
Address
1775 Tysons Boulevard, 7th Floor, Tysons, VA, USA, 22102
Park Hotels & Resorts owns upper-upscale and luxury hotels with 26,373 rooms across 41 hotels in the United States. Park also has interests through joint ventures in another 2,656 rooms in four U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and many of its lower-quality U.S. hotels to focus on high-quality assets in domestic gateway markets.
Executives
Geoffrey Garrett director C/O PARK HOTELS & RESORTS, 1775 TYSONS BOULEVARD, 7TH FLOOR, TYSONS VA 22102
Thomas D Eckert director 1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Nancy M. Vu officer: SVP,Gen. Counsel & Secretary 1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Thomas A Natelli director 1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Jill C Olander officer: See Remarks C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Baltimore Thomas J Jr director, officer: See Remarks PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD, 7TH FLOOR, TYSONS VA 22102
Darren W Robb officer: See Remarks C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Carl A. Mayfield officer: EVP, Design and Construction C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD, 7TH FLOOR, TYSONS VA 22102
Matthew Abram Sparks officer: See Remarks C/O HILTON GRAND VACATIONS, 5323 MILLENIA LAKES BLVD., SUITE 400, ORLANDO FL 32839
Hna Tourism Group Co., Ltd. 10 percent owner HNA BUILDING, NO. 7 GUOXING ROAD, HAIKOU F4 570203
Stephen I Sadove director
Mu Xianyu director C/O PARK HOTELS & RESORTS INC., 1600 TYSONS BOULEVARD, STE. 1000, MCLEAN VA 22102
Blackstone Real Estate Associates Vi L.p. 10 percent owner C/O THE BLACKSTONE GROUP, 345 PARK AVE., NEW YORK NY 10154
Blackstone Real Estate Partners Vi.te.2 Prime L.p. 10 percent owner C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Hlt Holdco Iii Prime Llc 10 percent owner C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154