Playa Hotels & Resorts N.V. Completes the Sale of the Capri Hotel and Executes New Resort Management Contract |

FAIRFAX, Va., June 28, 2021 /PRNewswire/ — Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the “Firm”) these days introduced that it has completed the sale of the Capri Resort for a total consideration of $55 million in hard cash. In conjunction with the closing of the transaction, the new proprietor has signed a franchise arrangement with Hyatt Lodges to rebrand the vacation resort as the Hyatt Zilara Riviera Maya subsequent renovations.

“We are very thrilled to be including the Hyatt Zilara Riviera Maya to our managed vacation resort portfolio, alongside our other classification-defining Hyatt All-Inclusive resorts,” claimed Bruce Wardinski, Chairman and CEO of Playa Inns & Resorts. “I am energized to check out this resort realize its entire possible next its repositioning and branding, driving benefit for our new partners, associates and shareholders.”

The transaction amplified the Firm’s liquidity by approximately $48.8 million, reflecting the $55 million consideration internet of customary closing expenditures.

Proceeds from the sale of the resort will be utilized for typical company uses and lowering the Firm’s exceptional personal debt.

About Playa Hotels & Resorts N.V.

Playa Accommodations & Resorts N.V. (NASDAQ: PLYA, “Playa”) is a major operator, operator and developer of all-inclusive resorts in primary beachfront spots in common holiday destinations in Mexico and the Caribbean. Playa owns and/or manages a overall portfolio consisting of 22 resorts (8,366 rooms) located in Mexico, Jamaica, and the Dominican Republic. Playa leverages many years of all-inclusive resort working know-how and relationships with globally recognized hospitality brands to offer a most effective in course experience and extraordinary worth to our guests, when creating a direct romance to strengthen purchaser acquisition expense and push repeat small business. Playa owns and manages 15 resorts (6,004 rooms) found in the course of Mexico, Jamaica and the Dominican Republic. Playa also owns two resorts in the Dominican Republic that are managed by a third celebration and manages 5 resorts on behalf of 3rd-party owners. For a lot more data, you should pay a visit to www.playaresorts.com.

Forward-Looking Statements

This press launch has ”forward-on the lookout statements,” as defined by federal securities guidelines. Ahead-wanting statements reflect Playa’s present-day expectations and projections about long run functions at the time, and as a result require uncertainty and threat. The words “feel,” “assume,” “anticipate,” “will,” “could,” “would,” “ought to,” “could,” “strategy,” “estimate,” “intend,” “forecast,” “probable,” “carry on,” and the negatives of these text and other related expressions commonly identify forward wanting statements. These forward-hunting statements are topic to several hazards and uncertainties, like those people described under the area entitled “Danger Things” in Playa’s Once-a-year Report on Variety 10-K, filed with the SEC on March 4, 2021, as these components could be up-to-date from time to time in Playa’s periodic filings with the SEC, which are available on the SEC’s web site at www.sec.gov. Accordingly, there are or will be essential variables that could result in actual results or outcomes to vary materially from people indicated in these statements. These factors need to not be construed as exhaustive and ought to be browse in conjunction with the other cautionary statements that are incorporated in this launch and in Playa’s filings with the SEC. Now, some of the most considerable variables that could induce genuine outcomes to vary materially from our forward-hunting statements are the adverse consequences of the latest COVID-19 pandemic on our monetary ailment, liquidity, benefits of operations and prospective customers, reductions in provider by the airways that company the spots where we very own resorts, the small and extended-time period demand from customers for travel, the world-wide economy and the local economies in which we possess resorts, and the economical markets. The extent to which the COVID-19 pandemic will carry on to impression us and shopper actions will depend on potential developments, which are hugely uncertain and can not be predicted with confidence, including the scope, severity and period of the pandemic, continuing resurgences of the pandemic, federal government actions taken to consist of the pandemic or mitigate its impact, the velocity, efficiency and distribution of vaccines and cure therapies, and the direct and oblique economic consequences of the pandemic and containment actions, together with the magnitude of its effect on unemployment prices and customer discretionary paying out, between other individuals. When ahead-looking statements replicate Playa’s superior religion beliefs, they are not guarantees of future overall performance. Playa disclaims any obligation to publicly update or revise any ahead-looking statement to replicate variations in underlying assumptions or things, new information, information or strategies, upcoming situations or other improvements soon after the date of this press launch, apart from as expected by relevant legislation. You need to not location undue reliance on any forward-wanting statements, which are centered only on info at the moment available to Playa (or to 3rd parties building the ahead-seeking statements).

For more info take a look at buyers.playaresorts.com.

 

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Resource Playa Lodges & Resorts N.V.