Playa Hotels & Resorts N.V. Provides An Update on the Impact from Hurricane Fiona

FAIRFAX, Va., Sept. 26, 2022 /PRNewswire/ — Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the “Company” or “Playa”) announced today an update on the impact of Hurricane Fiona on the Hyatt Ziva & Zilara Cap Cana, Hilton La Romana, Dreams Palm Beach and Dreams Punta Cana.

While there was no structural damage at any of the Company’s resorts in the Dominican Republic, the Hyatt Ziva & Zilara Cap Cana and the Hilton La Romana will be closed for a period of time to expedite necessary clean up and repair work as a result of Hurricane Fiona. The resorts are expected to reopen during the fourth quarter of 2022.

 

The Dreams Palm Beach and Dreams Punta Cana both remain open and operational.

 

The Company carries property and business interruption insurance and is currently working with its insurance partners to reopen the Hyatt Ziva & Zilara Cap Cana and the Hilton La Romana in a timely manner.

 

 

About Playa Hotels & Resorts N.V.

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 23 resorts (8,595 rooms) under the following brands: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry Collection by Hilton, Wyndham Alltra, Jewel Resorts and The Luxury Collection. 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 guests, while building a direct relationship to improve customer acquisition cost and drive repeat business. For more information, please visit www.playaresorts.com.

 

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 February 24, 2022, as updated by Playa’s Quarterly Report on Form 10-Q, filed with the SEC on August 4, 2022, 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 or other airline service/capacity issues, the short and longer-term demand for travel, the condition of the global economy and the local economies where we own resorts and the financial markets. 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).