Playa Hotels Results
Playa Hotels & Resorts N.V. Reports Third Quarter 2021 Results
Net Loss was $12.4 million compared to a Net Loss of $78.6 million in 2020.
Net Loss was $12.4 million compared to a Net Loss of $78.6 million in 2020.
In conjunction with the closing of the transaction, the new owner has signed a franchise agreement with Hyatt Hotels to rebrand the resort as the Hyatt Zilara Riviera Maya following renovations.
Owned Resort EBITDA decreased 89.2% versus 2020 to $6.5 million. Adjusted EBITDA decreased 105.0% versus 2020 to $(2.5) million.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) today announced that it has entered into a binding agreement with a third party to sell the Capri Hotel for a total consideration of $55 million in cash. Upon closing, the Company expects to execute a management contract and will operate the resort once it reopens after repositioning and renovation.
Slated to open May 2021, The Yucatan Resort Playa del Carmen offers 60 guestrooms distributed in a four-story building, a restaurant, sushi bar, rooftop pool and bar, spa and fitness center. The boutique resort is located just minutes from the beach on Playa del Carmen's famed Fifth Avenue known for its small-town charm plus high-end restaurants, luxury boutiques and well-recognized resorts.
By the end of this year, Hilton and Playa Hotels & Resorts will introduce Hilton La Romana, an All-inclusive Resort, and Hilton Playa del Carmen, an All-inclusive Resort, adding 1,269 new Hilton guest rooms to its existing global portfolio.
Playa will now-under the Panama Jack brand-pursue the redevelopment of two existing all-inclusive hotels in Mexico: Gran Caribe Resort in Cancun and Gran Porto Resort in Playa del Carmen.
As one of the founding members of Playa Hotels & Resorts in 2006, Ryan previously held the position of Vice President of Treasury & Planning. Ryan will continue to report to Larry Harvey, CFO of Playa.
Klein is an industry veteran with more than 20 years of experience in the travel and leisure sector. Most recently, Klein served as President, CEO, and member of the Board of Directors of Sabre Corporation.
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