Playa continues to credit Jamaica’s performance to its improving financials.

Playa Hotels and Resorts NV has once again credited Jamaica’s tourism market for the growth of its business which experienced a four per cent jump in third quarter revenue to US$213.15 million.

The Dutch-based hospitality firm, which operates in Mexico, the Dominican Republic and Jamaica, saw total occupancy across its portfolio of 70.7 per cent in the third quarter from July to September, a decrease relative to the 73.8 per cent in the prior period. The Jamaican portfolio experienced an improvement in occupancy from 75.5-77.6 per cent in the third quarter across its five properties in Montego Bay and Runaway Bay.

This improvement was reflected further in the financials with owned net revenue increasing 14 per cent to US$49.84 million and owned resort EBITDA (earnings before interest, tax, depreciation and amortization) coming in 36 per cent higher at US$15.33 million. The net package ADR (average daily rate) was US$422.23 and net package RevPAR (revenue per available room) of US$327.86 were at least 15 per cent above the 2022 figures which means that the company is generating more revenue at its Jamaican resorts.

Playa continues to credit Jamaica’s performance to its improving financials.

Playa Hotels and Resorts NV has once again credited Jamaica’s tourism market for the growth of its business which experienced a four per cent jump in third quarter revenue to US$213.15 million.

The Dutch-based hospitality firm, which operates in Mexico, the Dominican Republic and Jamaica, saw total occupancy across its portfolio of 70.7 per cent in the third quarter from July to September, a decrease relative to the 73.8 per cent in the prior period. The Jamaican portfolio experienced an improvement in occupancy from 75.5-77.6 per cent in the third quarter across its five properties in Montego Bay and Runaway Bay.

This improvement was reflected further in the financials with owned net revenue increasing 14 per cent to US$49.84 million and owned resort EBITDA (earnings before interest, tax, depreciation and amortization) coming in 36 per cent higher at US$15.33 million. The net package ADR (average daily rate) was US$422.23 and net package RevPAR (revenue per available room) of US$327.86 were at least 15 per cent above the 2022 figures which means that the company is generating more revenue at its Jamaican resorts.

https://www.jamaicaobserver.com/business/playa-praises-jamaica-for-third-quarter-performance/