FAIRFAX, Virginia.- Playa Hotels & Resorts NV (NASDAQ: PLYA) (the “Company”) announced that it has closed the sale of the Jewel Punta Cana for a total gross consideration of US$82.0 million.
The company expects total net revenue of approximately $70.0 million. The Company has also entered into a long-term hotel management agreement with the new owner to manage the resort. The transaction was completed on December 15, 2023.
Proceeds from the transaction will be used for general corporate purposes.
About Playa Hotels & Resorts NV
Playa is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in Mexico. Jamaica and the Dominican Republic. Playa currently owns and/or manages a total portfolio consisting of 24 resorts (9,027 rooms) under the following brands: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry Collection by Hilton, Wyndham Alltra, Seadust, Jewel Resorts and The Luxury Collection. Playa leverages years of all-inclusive resort operating experience and relationships with globally recognized hotel brands to deliver a best-in-class experience and exceptional value to guests, while building a direct relationship to improve cost of customer acquisition and drive repeat business. For more information, visit www.playaresorts.com.