Playa Hotels & Resorts N.V. Announces Authorization of New Share Repurchase Program

Rhea-AI Summary

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) authorizes a new $200.0 million share repurchase program, replacing the prior $200.0 million authorization. The repurchases may be made from time to time on an opportunistic basis, subject to market and business conditions. Repurchases may be made in the open market, in privately negotiated transactions or by other means.

FAIRFAX, Va., Dec. 11, 2023 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company" or "Playa") announced today that the Company's Board of Directors has authorized a new $200.0 million share repurchase program, replacing the prior $200.0 million authorization announced in February 2023, of which there was approximately $30 million remaining.

Repurchases may be made from time to time on an opportunistic basis, subject to market and business conditions. Repurchases under the program may be made in the open market, in privately negotiated transactions or by other means (including Rule 10b5-1 trading plans). Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.

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 26 resorts (9,756 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 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.

Forward-Looking Statements

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," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," 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 23, 2023, 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. 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 press release, 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).

For additional information visit investors.playaresorts.com.

 

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SOURCE Playa Hotels & Resorts N.V.

FAQ

What did Playa Hotels & Resorts N.V. (NASDAQ: PLYA) announce today?

The company announced the authorization of a new $200.0 million share repurchase program, replacing the prior $200.0 million authorization.

How much was remaining from the prior authorization?

Approximately $30 million was remaining from the prior authorization.

In what ways can the repurchases be made under the program?

Repurchases may be made in the open market, in privately negotiated transactions or by other means, including Rule 10b5-1 trading plans.

What factors determine the commencement or suspension of repurchases?

The repurchases may be commenced or suspended from time to time without prior notice, depending on market conditions and other factors.