FAIRFAX,
Va., Aug. 26, 2024 /PRNewswire/ -- Playa Hotels
& Resorts N.V. (NASDAQ: PLYA) (the "Company") today announced
that it has entered into a binding agreement with a third party to
sell the Jewel Palm Beach for a total consideration of $68
million in cash.
The sale of the resort is subject to customary closing
conditions, and the Company offers no assurances that this sale
will be completed. The Company expects the transaction to close in
the third quarter of 2024.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V., through its subsidiaries
(NASDAQ: PLYA, "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 25 resorts (9,127
rooms) under the following brands: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry
Collection by Hilton, Wyndham Alltra, Seadust, Kimpton, 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 22, 2024, 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 Management USA,
LLC
