FAIRFAX,
Va., Sept. 23, 2024 /PRNewswire/ -- Playa
Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") today
announced that it has closed on the sale of the Jewel Palm Beach
resort for a total consideration of $68 million in cash.
The Company expects total net proceeds of approximately
$64 million.
Proceeds from the transaction will be utilized for general
corporate purposes.
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 24 resorts (8,627
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