Playa Hotels & Resorts N.V. Reports First Quarter 2025 Results

Core Insights - Playa Hotels & Resorts N.V. reported a decline in financial performance for the three months ended March 31, 2025, compared to the same period in 2024, with total net revenue decreasing by 9.2% to $263.9 million [4][8] - The company experienced a decrease in occupancy rates and owned resort EBITDA, while adjusted net income also fell [8][9] Financial and Operating Results - Total portfolio occupancy decreased to 82.5% from 85.1%, a decline of 2.6 percentage points [4] - Net Package Average Daily Rate (ADR) increased by 4.6% to $525.34, while Net Package Revenue per Available Room (RevPAR) rose by 1.4% to $433.20 [4][8] - Owned Resort EBITDA decreased by 10.0% to $111.7 million, with a margin of 42.7%, down from 43.3% [4][8] - Adjusted EBITDA fell by 11.9% to $99.9 million, with an adjusted EBITDA margin of 37.9%, down from 39.1% [4][8] Comparable Portfolio Performance - Comparable portfolio occupancy improved to 85.7% from 84.3%, an increase of 1.4 percentage points [5] - Comparable Net Package ADR decreased by 3.3% to $523.83, while Comparable Net Package RevPAR fell by 1.7% to $449.14 [5][8] - Comparable Adjusted EBITDA decreased by 5.9% to $85.8 million, with a margin of 37.8%, down from 39.3% [5][8] Balance Sheet Highlights - As of March 31, 2025, the company held $265.4 million in cash and cash equivalents, with total interest-bearing debt of $1,075.3 million [9] - The company has no outstanding balance on its $225.0 million revolving credit facility [9] Company Overview - Playa Hotels & Resorts N.V. operates a total portfolio of 22 resorts with 8,342 rooms across Mexico, Jamaica, and the Dominican Republic [10] - The company focuses on all-inclusive resorts and leverages partnerships with globally recognized hospitality brands to enhance guest experiences [10]