PR Newswire
FAIRFAX, Va., Nov. 6, 2024 /PRNewswire/ -- Playa Hotels & Resorts N.V. (the "Company" or "Playa") (NASDAQ: PLYA) today announced results of operations for the three and nine months ended September 30, 2024.
Three Months Ended September 30, 2024 Results
Net Loss was $2.7 million compared to $10.5 million in 2023Adjusted Net Income(1) was $0.3 million compared to an Adjusted Net Loss(1) of $9.7 million in 2023Net Package RevPAR decreased 6.4% over 2023 to $252.12, driven by a 7.3 percentage point decrease in Occupancy, partially offset by a 4.3% increase in Net Package ADRComparable Net Package RevPAR decreased 9.4% over 2023 to $275.97, driven by a 5.9 percentage point decrease in Occupancy and a 1.5% decrease in Net Package ADROwned Resort EBITDA(1) decreased 30.7% versus 2023 to $36.6 millionOwned Resort EBITDA Margin(1) decreased 5.1 percentage points versus 2023 to 21.1%. The depreciation of the Mexican Peso, net of foreign currency forward contracts, favorably impacted Owned Resort EBITDA Margin by approximately 170 basis points for the three months ended September 30, 2024. Business interruption insurance proceeds and recoverable expenses related to Hurricane Fiona positively impacted Owned Resort EBITDA Margin by approximately 40 basis points for the three months ended September 30, 2024 and by 50 basis points for the three months ended September 30, 2023. Excluding these impacts, Owned Resort EBITDA Margin would have been 19.1%, a decrease of 6.6 percentage points compared to 2023Adjusted EBITDA(1) decreased 38.0% versus 2023 to $25.1 million, positively impacted by approximately $3.0 million due to the depreciation of the Mexican Peso, net of foreign currency forward contracts, and by $0.7 million from business interruption insurance proceeds and recoverable expenses. For the three months ended September 30, 2023, Adjusted EBITDA was positively impacted by $1.0 million from business interruption insurance proceeds and recoverable expensesAdjusted EBITDA Margin(1) decreased 5.6 percentage points versus 2023 to 14.2%, positively impacted by approximately 160 basis points due to the depreciation of the Mexican Peso, net of foreign currency forward contracts, and by 40 basis points from business interruption insurance proceeds and recoverable expenses. For the three months ended September 30, 2023, Adjusted EBITDA Margin was positively impacted by 50 basis points from business interruption insurance proceeds and recoverable expenses. Excluding these impacts, Adjusted EBITDA Margin would have been 12.2%, a decrease of 7.2 percentage points compared to 2023Comparable Adjusted EBITDA(1) decreased 36.9% versus 2023 to $22.7 millionComparable Adjusted EBITDA Margin(1) decreased 6.8 percentage points versus 2023 to 14.9%
FAIRFAX, Va., Oct. 7, 2024 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") today announced that it plans to release its third quarter 2024 financial results after the market closes on Wednesday, November 6, 2024, with a conference call planned for Thursday, November 7, 2024, at 09:00 a.m. Eastern Time, to discuss the results.
The conference call can be accessed by dialing (888) 317-6003 for domestic participants and (412) 317-6061 for international participants.
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.
Kimpton Tres Rios is now open for early 2025 reservations
FORT LAUDERDALE, Fla., Sept. 23, 2024 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (Playa), a leading owner and operator of all-inclusive resorts in Mexico and the Caribbean today announced reservations are officially open for Kimpton Tres Rios, its newest managed all-inclusive property, for stays in early 2025. Kimpton Tres Rios marks an important first for the Kimpton brand, part of IHG Hotels & Resorts luxury and lifestyle portfolio, as the first all-inclusive resort for the renowned boutique luxury brand.
FAIRFAX, Va., Aug. 26, 2024 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") today announced that it has entered into a binding agreement with a third party to sell the Jewel Palm Beach for a total consideration of $68 million in cash.
The sale of the resort is subject to customary closing conditions, and the Company offers no assurances that this sale will be completed. The Company expects the transaction to close in the third quarter of 2024.
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