FAIRFAX, Va., June 28, 2021 /PRNewswire/ — Playa Motels & Resorts N.V. (NASDAQ: PLYA) (the “Organization”) currently introduced that it has accomplished the sale of the Capri Lodge for a full consideration of $55 million in income. In conjunction with the closing of the transaction, the new owner has signed a franchise arrangement with Hyatt Inns to rebrand the resort as the Hyatt Zilara Riviera Maya following renovations.
“We are unbelievably thrilled to be introducing the Hyatt Zilara Riviera Maya to our managed resort portfolio, together with our other category-defining Hyatt All-Inclusive resorts,” explained Bruce Wardinski, Chairman and CEO of Playa Resorts & Resorts. “I am fired up to observe this vacation resort attain its total probable following its repositioning and branding, driving worth for our new associates, associates and shareholders.”
The transaction elevated the Firm’s liquidity by approximately $48.8 million, reflecting the $55 million consideration net of customary closing prices.
Proceeds from the sale of the vacation resort will be utilized for basic organization uses and lowering the Firm’s fantastic credit card debt.
About Playa Lodges & Resorts N.V.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA, “Playa”) is a top proprietor, operator and developer of all-inclusive resorts in primary beachfront spots in popular trip destinations in Mexico and the Caribbean. Playa owns and/or manages a complete portfolio consisting of 22 resorts (8,366 rooms) situated in Mexico, Jamaica, and the Dominican Republic. Playa leverages several years of all-inclusive resort functioning experience and relationships with globally regarded hospitality models to provide a most effective in class encounter and exceptional benefit to our friends, though making a immediate connection to improve consumer acquisition cost and drive repeat business enterprise. Playa owns and manages 15 resorts (6,004 rooms) located throughout Mexico, Jamaica and the Dominican Republic. Playa also owns two resorts in the Dominican Republic that are managed by a 3rd celebration and manages 5 resorts on behalf of 3rd-bash house owners. For far more facts, you should visit www.playaresorts.com.
Forward-On the lookout Statements
This press launch contains ”forward-wanting statements,” as defined by federal securities regulations. Forward-looking statements replicate Playa’s present expectations and projections about potential gatherings at the time, and therefore contain uncertainty and chance. The words and phrases “consider,” “assume,” “anticipate,” “will,” “could,” “would,” “must,” “may perhaps,” “system,” “estimate,” “intend,” “forecast,” “opportunity,” “continue on,” and the negatives of these phrases and other equivalent expressions usually recognize ahead wanting statements. This sort of forward-searching statements are issue to several pitfalls and uncertainties, which include individuals explained beneath the part entitled “Threat Variables” in Playa’s Once-a-year Report on Form 10-K, filed with the SEC on March 4, 2021, as this kind of factors may be current from time to time in Playa’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be vital variables that could lead to real outcomes or results to vary materially from these indicated in these statements. These things should not be construed as exhaustive and really should be study in conjunction with the other cautionary statements that are provided in this launch and in Playa’s filings with the SEC. At present, some of the most significant elements that could induce genuine outcomes to differ materially from our ahead-on the lookout statements are the adverse effects of the latest COVID-19 pandemic on our financial situation, liquidity, outcomes of functions and potential clients, reductions in services by the airlines that support the destinations the place we have resorts, the limited and more time-phrase desire for travel, the world financial system and the community economies wherever we personal resorts, and the economic marketplaces. The extent to which the COVID-19 pandemic will keep on to impression us and customer habits will count on long term developments, which are really uncertain and cannot be predicted with self-assurance, like the scope, severity and length of the pandemic, continuing resurgences of the pandemic, government actions taken to consist of the pandemic or mitigate its influence, the pace, effectiveness and distribution of vaccines and treatment method therapies, and the immediate and oblique financial results of the pandemic and containment steps, like the magnitude of its influence on unemployment fees and purchaser discretionary spending, among the many others. Whilst forward-searching statements reflect Playa’s excellent religion beliefs, they are not ensures of potential efficiency. Playa disclaims any obligation to publicly update or revise any forward-hunting statement to reflect modifications in fundamental assumptions or aspects, new information, details or approaches, future activities or other improvements soon after the date of this push release, except as demanded by relevant regulation. You really should not spot undue reliance on any forward-hunting statements, which are primarily based only on information and facts presently out there to Playa (or to third functions earning the forward-looking statements).
For further details check out investors.playaresorts.com.
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