FAIRFAX,
Va., Dec. 18, 2023 /PRNewswire/ -- Playa Hotels
& Resorts N.V. (NASDAQ: PLYA) (the "Company") today announced
that it has closed on the sale of the Jewel Punta Cana for a total
gross consideration of $82.0 million.
The Company expects total net proceeds of approximately
$70.0 million. The Company has also
entered into a long-term hotel management agreement with the new
owner to manage the resort. The transaction was completed on
December 15, 2023.
Proceeds from the transaction will be used for general corporate
purposes.
About Playa Hotels & Resorts N.V.
Playa is a
leading owner, operator and developer of all-inclusive resorts in
prime beachfront locations in Mexico, Jamaica and the Dominican Republic. Playa currently owns
and/or manages a total portfolio consisting of 24 resorts
(9,027 rooms) under the following brands: Hyatt Zilara,
Hyatt Ziva, Hilton All-Inclusive,
Tapestry Collection by Hilton, Wyndham Alltra, Seadust, Jewel
Resorts and The Luxury Collection. Playa leverages years of
all-inclusive resort operating expertise and relationships with
globally recognized hospitality brands to provide a best-in-class
experience and exceptional value to guests, while building a direct
relationship to improve customer acquisition cost and drive repeat
business. For more information, please
visit www.playaresorts.com.
Forward-Looking Statements
This press release contains
"forward-looking statements," as defined by federal securities
laws. Forward-looking statements reflect our current expectations
and projections about future events at the time, and thus involve
uncertainty and risk. The words "believe," "expect," "anticipate," "will,"
"could," "would," "should," "may," "plan,"
"estimate," "intend," "predict," "potential," "continue," and the
negatives of these words and other similar expressions generally
identify forward looking statements. Such forward-looking
statements are subject to various risks and uncertainties,
including those described under the section entitled "Risk Factors"
in Playa's Annual Report on Form 10-K, filed with the SEC
on February 23, 2023, as such factors may be updated from time
to time in our periodic filings with the SEC, which are accessible
on the SEC's website at www.sec.gov. Accordingly, there are or
will be important factors that could cause actual outcomes or
results to differ materially from those indicated in these
statements. These factors should not be construed as exhaustive and
should be read in conjunction with the other cautionary statements
that are included in this release and in Playa's filings with the
SEC. While forward-looking statements reflect our good faith
beliefs, they are not guarantees of future performance. The Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, new information, data or methods,
future events or other changes after the date of this press
release, except
as required by applicable law. You should
not place undue
reliance on any forward-looking statements, which
are based only on information currently available to us (or to
third parties making the forward-looking statements).
For additional information visit
investors.playaresorts.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/playa-hotels--resorts-nv-announces-the-sale-of-jewel-punta-cana-302018248.html
SOURCE Playa Management USA,
LLC