Playa Hotels & Resorts Nv Stock Price, News & Analysis

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) announced the sale of the Capri Hotel for $55 million. The transaction enhances liquidity by approximately $48.8 million, net of closing costs. Following the sale, the resort will be rebranded as the Hyatt Zilara Riviera Maya under a new franchise agreement with Hyatt Hotels. Proceeds will be used for general business purposes and to reduce outstanding debt. Playa operates a portfolio of 22 resorts across Mexico and the Caribbean, aiming to provide exceptional guest experiences.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) reported a Q1 2021 net loss of $69.7 million, worsening from $22.6 million in the prior year, fueled by $24.0 million in impairment losses. Total revenue fell by 56% year-over-year to $75.3 million, with occupancy at 31.6%. Despite challenges, March 2021 marked a milestone with positive Adjusted EBITDA achieved for the first time since the pandemic began. The company raised $138 million in equity, enhancing liquidity, and anticipates improved bookings as travel resumes.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) has rescheduled its 2021 annual general meeting (AGM) to June 29, 2021, at 4:00 p.m. CEST. The meeting will take place at the company’s offices in Amsterdam, Netherlands. Shareholders of record as of June 1, 2021, will vote on the proposals outlined in the proxy statement filed on April 19, 2021. It is important to note that proxies or votes from the originally scheduled meeting on May 13, 2021, are no longer valid. Proxy materials are expected to be distributed around June 3, 2021.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) announced the sale of the Capri Hotel for $55 million in cash, with plans for management post-renovation. The transaction is expected to close in the second quarter of 2021. Additionally, Playa signed a hotel management agreement for a 438-room luxury hotel in Riviera Maya, slated to open as the Hyatt Ziva Riviera Cancun in Q3 2021. This move aligns with Playa's strategy to expand its portfolio of branded all-inclusive resorts, enhancing its operational model without substantial capital expenditure.

Hyatt Hotels Corporation (NYSE:H) and Playa Hotels & Resorts (NASDAQ:PLYA) announced plans for a new Hyatt Ziva Riviera Cancun, an all-inclusive resort in Mexico's Riviera Cancun, set to open later this year. This 438-room resort will enhance the Hyatt Ziva portfolio, focusing on family-friendly experiences and offering extensive amenities including pools, a spa, and 15,000 sq ft of event space. The addition of this resort will bring the total number of Hyatt Ziva resorts to six across Mexico and the Caribbean, reflecting a commitment to the all-inclusive market.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) will release its Q1 2021 financial results post-market on May 5, 2021. An earnings conference call is scheduled for May 6, 2021, at 11:30 a.m. EDT, accessible to both domestic and international participants via provided phone numbers. The call will also be available for replay from May 6 to May 13, 2021. Playa Hotels operates a portfolio of 20 all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic, totaling 7,867 rooms, solidifying its position in prominent vacation destinations.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) announced the addition of The Yucatan Resort Playa del Carmen, Tapestry Collection by Hilton, to its managed all-inclusive resort portfolio. This strategic entry into the soft branded all-inclusive market follows a partnership with Hilton that began in 2018. Slated to open in May 2021, the resort will feature 60 rooms and various amenities, enhancing Playa's offerings in Playa del Carmen. Guests will benefit from Hilton Honors loyalty program privileges, solidifying the collaboration's impact on the hospitality sector.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) reported significant financial losses for Q4 and the full year 2020, attributing the downturn to the COVID-19 pandemic. Q4 2020 net loss was $73.8 million, up from $17.9 million in 2019, with a total net revenue decrease of 53.2%. Adjusted net loss for the year was $194.2 million. Despite these challenges, occupancy rates showed signs of recovery, particularly in December, indicating potential pent-up demand. The company plans to enhance liquidity through equity offerings and asset sales during 2021.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) has announced a rescheduling of its fourth quarter 2020 financial results conference call. The earnings will now be released after market hours on March 4, 2021, with a call scheduled for March 5, 2021, at 10:00 a.m. EST. Interested participants can access the call via specific dial-ins, and a taped replay will be available until March 12, 2021. Playa operates 20 resorts across Mexico, Jamaica, and the Dominican Republic, focusing on all-inclusive vacation experiences.