Playa Hotels & Resorts NV

NASDAQ:PLYAUnited States

Nov 6, 2024

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• -- Earnings Flash (PLYA) PLAYA MANAGEMENT USA LLC Posts Q3 Revenue $183.5M, from 4:26PM ET on Wednesday Nov 06, 2024 by MT Newswires

  4:26PM ET on Wednesday Nov 06, 2024 by MT Newswires
  Companies Mentioned: PLYA
  04:26 PM EST, 11/06/2024 (MT Newswires) -- ...

• Playa Hotels & Resorts N.V. Reports Third Quarter 2024 Results, from 4:05PM ET on Wednesday Nov 06, 2024 by PR Newswire

  4:05PM ET on Wednesday Nov 06, 2024 by PR Newswire
  Companies Mentioned: PLYA

  Playa Hotels & Resorts N.V. (the "Company" or "Playa") (NASDAQ: PLYA) today announced results of operations for the three and nine months ended September 30, 2024.

  https://mma.prnewswire.com/media/1396095/Playa_Resorts_Logo.jpg

• *DJ Playa Hotels & Resorts 3Q Loss/Shr 2c >PLYA, from 4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: PLYA
  
  Yucatán Peninsula
  -- Owned Net Revenue for the nine months ended September 30, 2024 increased $9.6 million, or 4.2%, compared to the nine months ended September 30, 2023. The increase was due to the following: -- an increase in Occupancy of 0.2 percentage points, despite the negative impact of Hurricane Beryl during the nine months ended September 30, 2024; -- an increase in Net Package ADR of 3.0%; and -- an increase in Net Non-package Revenue of $2.2 million, or 8.5%. -- Net Non-package Revenue per sold room increased 7.8%, primarily driven by higher realized fees related to no-shows, cancellations and loyalty point redemption settlements compared to the nine months ended September 30, 2024. -- Owned Resort EBITDA for the nine months ended September 30, 2024 increased $2.8 million, or 3.6%, compared to the nine months ended September 30, 2023 and was driven by: -- an increase in Net Package ADR in addition to expense efficiency measures put in place to lower direct expenses; partially offset by -- an unfavorable impact of $2.0 million due to the appreciation of the Mexican Peso, net of the impact of our foreign currency forward contracts (refer to discussion of our derivative financial instruments in Note 12 to the Condensed Consolidated Financial Statements in our Form 10-Q); -- a headwind from increased labor and related expenses, which were partially due to union-negotiated and government-mandated wage benefit increases; and -- an increase in insurance premiums. -- Our Owned Resort EBITDA Margin for the nine months ended September 30, 2024 was 34.4%, a decrease of 0.2 percentage points compared to the nine months ended September 30, 2023. Owned Resort EBITDA Margin for the nine months ended September 30, 2024 was negatively impacted by 80 basis points due to the appreciation of the Mexican Peso and 100 basis points from increases in labor and related expenses compared to the nine months ended September 30, 2023. Excluding the impact from the appreciation of the Mexican Peso, Owned Resort EBITDA Margin would have been 35.2%, an increase of 0.6 percentage points compared to the nine months ended September 30, 2023.
  

• Playa Hotels & Resorts N.V. Reports Third Quarter 2024 Results, from 4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: PLYA
  
  Yucatán Peninsula
  -- Owned Net Revenue for the nine months ended September 30, 2024 increased $9.6 million, or 4.2%, compared to the nine months ended September 30, 2023. The increase was due to the following: -- an increase in Occupancy of 0.2 percentage points, despite the negative impact of Hurricane Beryl during the nine months ended September 30, 2024; -- an increase in Net Package ADR of 3.0%; and -- an increase in Net Non-package Revenue of $2.2 million, or 8.5%. -- Net Non-package Revenue per sold room increased 7.8%, primarily driven by higher realized fees related to no-shows, cancellations and loyalty point redemption settlements compared to the nine months ended September 30, 2024. -- Owned Resort EBITDA for the nine months ended September 30, 2024 increased $2.8 million, or 3.6%, compared to the nine months ended September 30, 2023 and was driven by: -- an increase in Net Package ADR in addition to expense efficiency measures put in place to lower direct expenses; partially offset by -- an unfavorable impact of $2.0 million due to the appreciation of the Mexican Peso, net of the impact of our foreign currency forward contracts (refer to discussion of our derivative financial instruments in Note 12 to the Condensed Consolidated Financial Statements in our Form 10-Q); -- a headwind from increased labor and related expenses, which were partially due to union-negotiated and government-mandated wage benefit increases; and -- an increase in insurance premiums. -- Our Owned Resort EBITDA Margin for the nine months ended September 30, 2024 was 34.4%, a decrease of 0.2 percentage points compared to the nine months ended September 30, 2023. Owned Resort EBITDA Margin for the nine months ended September 30, 2024 was negatively impacted by 80 basis points due to the appreciation of the Mexican Peso and 100 basis points from increases in labor and related expenses compared to the nine months ended September 30, 2023. Excluding the impact from the appreciation of the Mexican Peso, Owned Resort EBITDA Margin would have been 35.2%, an increase of 0.6 percentage points compared to the nine months ended September 30, 2023.