Playa Hotels & Resorts Awarded 2018 Transaction Of The Year At Caribbean Hotel & Resort Investment Summit
The deal resulted in diversification for the
two companies throughout the
Caribbean and Latin America
Ft. Lauderdale (May 24, 2019) – Playa Hotels & Resorts N.V.
(NASDAQ: PLYA, “Playa” or “The Company”) an owner, operator and developer of
premium all-inclusive resorts, was awarded the 2018 Transaction of the Year
Award at the Caribbean Hotel & Resort Investment Summit (CHRIS) for the
company’s $300 million business combination with certain companies affiliated
with Sagicor Group Jamaica Limited (“Sagicor”). Playa assumed management of the
resorts from a third party following the close of the transaction.
The deal resulted in the strategic redirection of the sales
and marketing for the five resorts, which comprise 1455 rooms located on the famed
Northern Coast of Jamaica. The new strategy focuses on lowering customer
acquisition costs, enhancing customer engagement and increasing customer loyalty.
The transaction also facilitated the diversification of cash flows for both
parties. Sagicor exchanged a portion of its investment in Jamaica for shares in
Playa's more diversified portfolio. Playa increased its family of globally
recognized US brand partnerships while also growing its presence in Jamaica and
capitalizing on the potential for operational synergies. As part of the
transaction, Playa welcomed Hilton into its family of brands and added two of
Sagicor's seasoned business leaders to its board of directors.
"We’re thankful for the ongoing support of Sagicor senior
executives, Richard Byles and Christopher Zacca and for their belief in Playa’s
vision. Their intimate knowledge of the portfolio and the Jamaican tourism
industry have been invaluable. The transaction played a pivotal role in Playa’s
growth and we’re grateful to have them as partners as we continue to expand our
presence within the Caribbean,” said Playa’s Bruce Wardinski, Chairman and
Chief Executive Officer.
“We’re honored to receive this highly coveted award,” said
Fernando Mulet, Playa’s Executive Vice President and Chief Development Officer.
This off-market transaction allowed us to show the value of partnering with
Playa. Not only did we expand our footprint in Jamaica by 17% through this
business combination but we also secured a partner who benefits from
diversification and our existing yet scalable operational platform in the region.”
For additional information on Playa Hotels & Resorts, visit www.playaresorts.com
About Playa Hotels & Resorts N.V.
Playa is a leading owner, operator and developer of all-inclusive resorts in
prime beachfront locations in popular vacation destinations
in Mexico and the Caribbean. Playa owns and/or manages a total
portfolio consisting of 21 resorts (7,914 rooms) located
in Mexico, Jamaica, and the Dominican Republic. In Mexico,
Playa owns and manages Hyatt Zilara Cancun, Hyatt Ziva Cancun, Panama Jack
Resorts Cancun, Panama Jack Resorts Playa del Carmen, Hilton Playa del Carmen
All-Inclusive Resort, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos.
In Jamaica, Playa owns and manages Hyatt Zilara Rose Hall, Hyatt Ziva
Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Dunn’s River
Beach Resort, Jewel Grande Montego Bay Resort & Spa, Jewel
Runaway Bay Beach & Golf Resort and Jewel Paradise Cove Beach
Resort & Spa. In the Dominican Republic, Playa owns and manages the Hilton
La Romana All-Inclusive Family Resort and the Hilton La Romana All-Inclusive
Adult Resort. Playa also owns four resorts in Mexico and the Dominican
Republic that are managed by a third party and Playa manages the Sanctuary
Cap Cana, in the Dominican Republic.
Media Contact:
Liz
McNeil