FAIRFAX, Va., Nov. 04, 2020 (GLOBE NEWSWIRE) — Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the “Company”) today announced that it has entered into a binding agreement with a third party to sell the Dreams Puerto Aventuras for a total consideration of $34.5 million in cash.
“The opportunistic sale of this resort aligns with our objective of pruning non-core assets and enhancing our liquidity position,” said Bruce Wardinski, Chairman and CEO of Playa Hotels & Resorts. “The ability to get transactions done during times like this is a testament to the quality of our portfolio and the long term potential of our markets.”
The sale of the resort is subject to customary closing conditions, and the Company offers no assurances that this sale will be completed. The Company expects the transaction to close in the first quarter of 2021.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V.