FAIRFAX,
Va., Dec. 11, 2023 /PRNewswire/ -- Playa Hotels
& Resorts N.V. (NASDAQ: PLYA) (the "Company" or "Playa")
announced today that the Company's Board of Directors has
authorized a new $200.0 million share
repurchase program, replacing the prior $200.0 million authorization announced in
February 2023, of which there was
approximately $30 million
remaining.
Repurchases may be made from time to time on an opportunistic
basis, subject to market and business conditions. Repurchases under
the program may be made in the open market, in privately negotiated
transactions or by other means (including Rule 10b5-1 trading
plans). Depending on market conditions and other factors, these
repurchases may be commenced or suspended from time to time without
prior notice.
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 26 resorts
(9,756 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.
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SOURCE Playa Hotels & Resorts N.V.