Playa Hotels & Resorts N.V. Provides Update on Recent Operating Trends

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Sep 08, 2021, 16:05 ET

FAIRFAX, Va., Sept. 8, 2021 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") today provided an update on July and August preliminary Occupancy and Net Package Average Daily Rate ("ADR") results. The following preliminary update is for the Company's total owned resort portfolio consisting of 7,124 rooms:

For the combined months of July and August, Occupancy was 63.8% at a Net Package ADR of $328. This preliminary ADR represents an approximate 34% increase compared to the same period in 2019.

"We are continuing to execute our strategy and are pleased to announce our progress thus far this quarter," said Bruce Wardinski, Chairman and CEO of Playa Hotels & Resorts. "We expected our absolute ADR to decline as the quarter progressed due to seasonal factors but exceeding 2019 ADR by over 30% is well beyond our expectations."

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. 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 our guests, while building a direct relationship to improve customer acquisition cost and drive repeat business. 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 third party and manages five resorts on behalf of third-party owners. 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," "preliminary" (with respect to results), 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 March 4, 2021, and 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. Currently, some of the most significant factors that could cause actual outcomes to differ materially from our forward-looking statements are the adverse effects of the current COVID-19 pandemic on our financial condition, liquidity, results of operations and prospects, reductions in service by the airlines that service the locations where we own resorts, the short and longer-term demand for travel, the global economy and the local economies where we own resorts and the financial markets. The extent to which the COVID-19 pandemic will continue to impact us and consumer behavior will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, continuing resurgences of the virus and its variances, including the Delta variant, government actions taken to contain the pandemic or mitigate its impact, the speed, effectiveness and distribution of vaccines and treatment therapies, the rate of public adoption of COVID-19 vaccines and the direct and indirect economic effects of the pandemic and containment measures, including the magnitude of its impact on unemployment rates, labor-force availability, and consumer discretionary spending, among others. 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 quarterly report, 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.

SOURCE Playa Hotels & Resorts N.V.