Playa Hotels & Resorts N.V. Provides Preliminary Fourth Quarter 2021 Property Operating Statistics
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) released preliminary fourth quarter 2021 operating statistics for its portfolio of 7,124 rooms. The company reported an occupancy rate of 66% and an Average Daily Rate (ADR) of $325, marking a 39% increase compared to 2019. The Owned Resort EBITDA Margin is approximately 33%. CEO Bruce Wardinski acknowledged challenges due to COVID-19 but expressed optimism due to recent booking acceleration. Final financial results are expected on February 24, 2022, and may differ from these preliminary figures.
- Occupancy rate of 66%, indicating recovery.
- Average Daily Rate (ADR) increased by 39% compared to 2019, reflecting higher pricing power.
- EBITDA Margin of approximately 33%, showing solid operational efficiency.
- None.
FAIRFAX, Va., Jan. 20, 2022 /PRNewswire/ -- Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") announced today that it expects to report the following fourth quarter 2021 property operating statistics for the Company's total owned resort portfolio of 7,124 rooms when it reports final results in February 2022:
- Occupancy rate of
66% at an Average Daily Rate ("ADR") of$325 . This preliminary ADR represents an approximate39% increase compared to the same period in 2019. - Owned Resort EBITDA Margin of approximately
33%
"Our teams did a masterful job navigating the challenges presented by COVID-related disruptions during the fourth quarter and delivered exceptional results in the face of adversity," said Bruce Wardinski, Chairman and CEO of Playa Hotels & Resorts. "Furthermore, I am optimistic for the new year and encouraged by the acceleration in our bookings that we have seen in recent weeks."
These results are preliminary as the Company has not yet completed its financial close processes for the fourth quarter of 2021. These estimates are not a comprehensive statement of the company's financial results for the fourth quarter of 2021. The Company expects to report final fourth quarter financial results and property operating statistics on February 24, 2022. Final results, when reported, could differ materially from these preliminary results.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V. 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 22 resorts (8,366 rooms) located in Mexico, Jamaica, and the Dominican Republic. 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 our guests, while building a direct relationship to improve customer acquisition cost and drive repeat business. Playa owns and manages 15 resorts (6,004 rooms) located throughout Mexico, Jamaica and the Dominican Republic. Playa also owns two resorts in the Dominican Republic that are managed by a third party and manages five resorts on behalf of third-party owners. 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," "preliminary" (with respect to results), "estimated" 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 March 4, 2021, 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, the short and longer-term demand for travel, the global economy and the local economies where we own resorts and the financial markets. As a result of the COVID-19 pandemic, we have experienced severely reduced occupancy levels at our resorts compared to historic levels and we continue to experience lower occupancy as compared to pre-pandemic levels. The extent to which the COVID-19 pandemic will continue to impact us and consumer behavior will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, continuing resurgences of the virus and its variances, including the Delta and Omicron variants, government actions taken to contain the pandemic or mitigate its impact, the speed, continuing effectiveness and distribution of vaccines (including boosters) and treatment therapies, the rate of public adoption of COVID-19 vaccines and the direct and indirect economic effects of the pandemic and containment measures, including the magnitude of its impact on unemployment rates, labor-force availability(including as a result of vaccine mandates), disruption in the supply chain for materials, and consumer discretionary spending, among others. 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).
For additional information visit investors.playaresorts.com.
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SOURCE Playa Management USA, LLC
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