FAIRFAX, Virginia., 26 August 2024 /PRNewswire/ – Playa Hotels & Resorts NV (NASDAQ: PLYA) (the “Company”) today announced that it has entered into a binding agreement with a third party to sell Jewel Palm Beach for an aggregate cash consideration of $68 million.
The sale of the resort is subject to customary closing conditions and the Company provides 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 NV
Playa Hotels & Resorts NV, through its subsidiaries (NASDAQ: PLYA, “Playa”), is a leading owner, operator and developer of all-inclusive resorts in prime beach locations in Mexico, Jamaica and the Dominican RepublicPlaya currently owns and/or manages a portfolio of 25 resorts (9,127 rooms) under the following brands: Hyatt Zilara, Hyatt ZivaHilton All-Inclusive, Tapestry Collection by Hilton, Wyndham Alltra, Seadust, Kimpton, Jewel Resorts and The Luxury Collection. Playa leverages its years of experience operating all-inclusive resorts and relationships with globally recognized hotel brands to provide guests with a first-class experience and exceptional value, while building a direct relationship to improve customer acquisition costs and encourage repeat business. For more information, visit www.playaresorts.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the United States securities laws. Forward-looking statements reflect our current expectations and projections about future events at the time they are made and therefore involve uncertainties and risks. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “might,” “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 in the “Risk Factors” section of Playa’s Annual Report on Form 10-K filed with the SEC on February 22, 2024as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible at 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 by these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements contained in this release and in Playa’s filings with the SEC. Although 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 statements 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 law. You should not place undue reliance on forward-looking statements, which are based only on information currently available to us (or to third parties making the forward-looking statements).
For more information, visit investors.playaresorts.com.
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