PHOTO: Playa heads to the Stock Market to ring the closing bell. (photo via Flickr/401Kcalculator)
WHY IT RATES: In celebration of being the only public company solely working the all-inclusive segment, Playa Hotels & Resorts will ring the stock market closing bell! - Eric Bowman, TravelPulse Senior Editor
On Tuesday, April 4, 2017, Playa Hotels & Resorts N.V. (Nasdaq: PLYA), a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations in Mexico and the Caribbean, will visit the Broadcast Studio at the Nasdaq MarketSite in Times Square.
In celebration of becoming the only public company solely working in the all-inclusive segment, Bruce Wardinski, Chairman & CEO, Playa Hotels & Resorts will ring the Closing Bell.
Bruce D. Wardinski serves as Chairman and Chief Executive Officer of Playa Hotels & Resorts N.V. and previously served as the Chairman, President and Chief Executive Officer of Crestline Capital Corporation (NYSE: CLJ), Chairman of Highlight Hospitality (HYSE: HIH) and Senior Vice President of Host Marriott (NYSE: HMT) among others. Known as an innovator in the hospitality sector, Wardinski is a well-respected businessman and sought after public speaker. CLICK FOR FULL BIO.
The company’s goal is to create long-term value through the ownership, development, redevelopment and operation of all-inclusive, beachfront resorts in destinations such as Mexico, Jamaica, the Dominican Republic and other beach destinations worldwide. The company’s business model, which provides guests with the all-inclusive vacation experience year-round, produces higher occupancy rates than competing traditional or seasonal resort structures.
Playa Hotels & Resorts Milestones
• Playa Hotels & Resorts is the first and only company devoted exclusively to the all-inclusive space to become a publicly-traded company.
• Playa currently has a strategic partnership with Hyatt (NYSE:H) which resulted in the launch of Hyatt Ziva and Hyatt Zilara brands. Through its relationship with Playa, Hyatt is the first major U.S. brand to have entered the all-inclusive segment.
• In December 2016, Playa entered a business combination with PACE, a special purpose acquisition company formed by TPG. The purpose of the transaction is to accelerate Playa’s growth strategy by providing $450 million of additional capital and access to the public markets to strengthen its balance sheet, pursue acquisitions, and enhance distribution—all furthering the company’s leading position in an emerging, high-growth sector.
• The transaction between PACE and Playa resulted in an initial enterprise value of approximately $1.75 billion for the combined company and ultimately resulted in Playa Hotels & Resorts becoming a publicly traded organization under the trading symbol, PLYA.
• Playa announced an exclusive relationship with lifestyle-brand, Panama Jack to launch Panama Jack All-Inclusive Resorts in Mexico during the latter part of 2017.
• Hyatt Hotels Corporation announced the full redemption of its $290 million preferred stock investment in Playa. Following the redemption, Hyatt retains a common equity stake of 11.57 percent in Playa Hotels & Resorts N.V.
What others are saying about the PLYA IPO: CLICK HERE
For more information, contact Amy Zocchi at 954.453.1684 or AZocchi@playaresorts.com
SOURCE: A Playa Hotels & Resorts press release.