Playa Hotels and Resorts NV recorded its best year on record as a swift recovery of tourism markets in Jamaica, the Dominican Republic and Mexico resulted in it generating US$977.50 million (J$150.14 billion) of revenue, a significant step up to the US$636.48 million (J$82.60 billion) earned in 2019.

The Dutch-based hospitality firm which operates its own proprietary room portfolio and provides management services for resorts owned by third parties, experienced a sharp rise in its net package ADR (average daily rate) to US$430.12, an improvement to the US$375.33 in 2022 and US$256.53 in 2019. This was against the backdrop of the company only having 6,504 rooms under its proprietary portfolio and 9,027 total rooms at the end of 2023 relative to the 8,238 rooms under the proprietary portfolio and 8,690 total rooms in 2019.

“The fourth quarter capped off a record year for Playa. Our fourth-quarter results exceeded our expectations, as demand accelerated through the quarter, with December occupancy in the Yucatán and Jamaica exceeding the December 2018 and 2019 average. We were effectively able to drive ADR as demand accelerated, leading to higher than anticipated Adjusted EBITDA for the fourth quarter. While foreign exchange rate headwinds persisted, our operations teams continued to improve our efficiency efforts in procurement and staffing,” said Bruce D Wardinski, Playa chairman and CEO, in the news release.

https://www.jamaicaobserver.com/2024/03/15/playa-hauls-record-150-billion-2023/