Playa Hotels & Resorts N.V. Announces Pricing of Secondary Offering of 8,352,553 Ordinary Shares by Selling Shareholders

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Nov 08, 2021, 22:03 ET

FAIRFAX, Va., Nov. 8, 2021 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) ("Playa") today announced the pricing of an underwritten secondary offering of 8,352,553 of our Ordinary Shares by certain selling shareholders (the "Selling Shareholders") affiliated with Farallon Capital Management, L.L.C. (collectively, the "Farallon Funds"), at a public offering price of $8.35 per Ordinary Share, which is expected to result in gross proceeds to the Selling Shareholders of approximately $69.7 million. The offering is expected to close on November 12, 2021, subject to customary closing conditions. Upon consummation of the offering for the proposed number of shares offered, the Farallon Funds will no longer hold beneficial ownership interests in Playa.

Playa is not offering to sell any Ordinary Shares in the offering and will not receive any proceeds from the sale of Ordinary Shares by the Selling Shareholders in the offering. In addition, none of Playa's officers or directors is offering to sell any Ordinary Shares in the offering.

BofA Securities is serving as sole underwriter for the offering.

The offering of these securities is being made pursuant to an effective shelf registration statement. This offering will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus supplement, when available, and the prospectus relating to the offering may be obtained by visiting EDGAR on the SEC's website at www.sec.gov or by contacting: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department Email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V. is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations in Mexico and the Caribbean. Playa owns and/or manages a total portfolio consisting of 22 resorts (8,366 rooms) located in Mexico, Jamaica, and the Dominican Republic. In Mexico, Playa owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Panama Jack Resorts Cancún, Panama Jack Resorts Playa del Carmen, Hilton Playa del Carmen All- Inclusive Resort, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. In Jamaica, Playa owns and manages Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa. In the Dominican Republic, Playa owns and manages the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana and Hyatt Ziva Cap Cana. Playa also owns two resorts in the Dominican Republic that are managed by a third party and Playa manages five resorts on behalf of third-party owners.

Forward-Looking Statements
This press release contains "forward-looking statements," as defined by federal securities laws. Forward-looking statements reflect Playa's 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 factors that could cause actual outcomes or results to differ materially from those indicated in these statements, including the risks described under the sections entitled "Risk Factors" in Playa's Annual Report on Form 10-K, as such factors may be updated from time to time in Playa's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. 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. Currently, one of the most significant factors that could cause actual outcomes to differ materially from our forward-looking statements is the adverse effects of the current COVID-19 pandemic on the financial condition, operating results and cash flows of Playa, the airlines that service the locations where Playa owns resorts, the short and longer-term demand for travel, the global economy and the local economies where Playa owns its resorts, and the financial markets. While forward-looking statements reflect Playa's good faith beliefs, they are not guarantees of future performance. Playa 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 Playa (or to third parties making the forward-looking statements).

SOURCE Playa Management USA, LLC