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Playa Hotels & Resorts Overview
May 2021
This document contains information confidential and proprietary to Playa Hotels & Resorts N.V. (“Playa”) and its affiliates.
The information may not be used, disclosed or reproduced without the prior written authorization of Playa, and those so
authorized may only use the information for the purpose of its evaluation consistent with authorization. Reproduction of
any section of this document must include this legend.
Forward-Looking Statements
This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and
similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of terminology such as
“outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates” or the negative version of these words or other comparable words or phrases. Such forward-looking statements are subject to various risks and
uncertainties, including those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC, as such
factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there
are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should
not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in Playa’s
filings with the SEC. While forward-looking statements reflect Playa’s good faith beliefs, they are not guarantees of future performance. Playa disclaims any
obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or
methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on
any forward-looking statements, which are based only on information currently available to us (or to third parties making the forward-looking statements).
Use of non-GAAP Financial Measures
This presentation includes non-GAAP financial measures. Please refer to our most recent Annual Report on Form 10-K filed with the SEC for detailed
definitions of these measures and reconciliations of these measures to the nearest comparable GAAP measures. Our definitions of these measures may
not be comparable with measures used by other companies.
Third-Party Information
This presentation also contains information and statistics relating to the travel and tourism industry and the all-inclusive segment in certain markets. Playa
has derived such information and data from third-party reports or other sources without independent verification. No assurance can be given regarding the
accuracy or appropriateness of such information and data. You should not place undue reliance on such information and data in this presentation.
| 2
INDEX
1. Company Overview
2. Branding Benefits
3. Capital Allocation
Strategy
4. Appendix
| 3
Company Overview
| 4
COMPANY OVERVIEW
Playa’s Strategy
As the only U.S. public company in the sector, Playa’s strategy is to leverage its liquidity,
institutional expertise, and globally recognized brand partnerships to capitalize on the gap between
the 14% of Caribbean supply that is U.S. brand affiliated, and the 45%+ of guests that come from
the U.S., to drive outsized returns for our shareholders and enhance the lives of associates and the
communities in which we operate (1)
“We’ve known Playa for quite some time, and
once you visit their hotels, you will see, and
customers will see, that they have really figured
out the secret sauce [for running all-inclusive
resorts],…… They have the service, the
standards — all the things people want in all-
inclusive — but they were missing a small piece:
distribution. We have those nearly 120 million
Hilton Honors members who want to earn and
redeem. We both bring complementary
attributes.”
- Hilton vice president of development for Latin America,
Juan Corvinos
1) This includes the Mexican Caribbean. If we were to exclude the U.S. centric markets of Puerto Rico, Aruba, Cayman, Virgin Islands, Puerto Rico and the Bahamas, U.S. brand affiliated
supply drops to just 8%. | 5
Source: TripAdvisor, Playa Hotels & Resorts research
PREMIER COLLECTION OF ALL-INCLUSIVE RESORTS ON
DESIRABLE BEACHFRONT
Hyatt Ziva and Zilara Rose Hall Hyatt Ziva Cancún Hyatt Zilara Cancún
Hilton Playa del Carmen Hyatt Ziva Los Cabos Dreams Palm Beach
22 8,366 100% 65% 75%
All-Inclusive Rooms Owned / Operated Hyatt / Hilton 4.5+ Star Resorts (1)
Resorts (1) Beach Resorts Branded (1)(2)
(1) Includes management contracts, pro-forma for managed resorts that have not yet opened | 6
(2) Based on the number of rooms as of EOP April 2021, pro-forma for managed resorts that have not yet opened
BUSINESS
OUR BRANDS
OUR STORY
Since 2006, Playa Hotels & Resorts has become the leading owner,
operator, manager and developer of all-inclusive resorts in prime beach
front locations.
United Dominican
Mexico Jamaica
States Republic
OUR TEAM:
Total
8,000 Employees
Worldwide
GRAND OPENINGS AND MILESTONES
Formed a strategic alliance with Hilton
Launched Hyatt Zilara and Hyatt Ziva First 3rd- party management Completed renovation of Hilton
resulting in the transformation of three
brands, with the Hyatt Zilara Cancun, Hyatt Ziva contract with Sanctuary Cap Playa del Carmen and the Hilton La
resorts, and allowing for the conversion
Los Cabos, & the Hyatt Ziva/Zilara Rose Hall Cana Romana
of up to 8 additional resorts by 2025
2 013 2013 2 017 2017 2018 2018 2019 2019 2021
Acquired two managements
Acquired Real Resorts Listed on NASDAQ Acquired Jewel Resorts & Opened Hyatt Ziva & Zilara Cap Cana contracts: The Yucatan Resort
& The Ritz Carlton Rose Hall Hilton Rose Hall in the Dominican Republic & Hyatt Ziva Riviera Cancun
| 7
COMPANY OVERVIEW
Geographic Footprint
Cancún / Riviera Maya Rooms
Brands by Rooms (%) 1. Hyatt Ziva Cancún 547
2. Hyatt Zilara Cancún 310
3. Hilton Playa del Carmen 524
Hyatt 43% 4. Panama Jack Cancún 458
5. Panama Jack Playa del Carmen 287
Hilton 22% 6. Capri Riviera Maya 291
7. Hyatt Ziva Riviera Cancún(2) 438
Dreams 13% 8. The Yucatán Resort Playa del Carmen(2) 60
Total Cancún / Riviera Maya 2,915
Panama 9% Percentage by Region 35%
Jack
Pacific Coast Rooms
Jewels 5%
1. Hyatt Ziva Los Cabos 591
Capri 4% 2. Hyatt Ziva Puerto Vallarta 335
Total Western Mexico 926
Percentage by Region 11%
Sanctuary 4%
Dominican Republic Rooms
Pacific Coast Cancún / Riviera Maya Jamaica Dominican Republic 1. Hilton La Romana 774
2. Dreams Palm Beach 500
Hyatt Ziva & Zilara
Dreams Punta Cana 3. Dreams Punta Cana 620
Rose Hall
Jewel Grande 4. Hyatt Ziva & Zilara Cap Cana 750
Hyatt Ziva Cancun 5. Sanctuary Cap Cana (2) 324
Panama Jack Cancun Total Dominican Republic 2,968
Hyatt Ziva Hyatt Zilara Cancun Percentage by Region 35%
Los Cabos Hyatt Ziva Riviera Cancun Hilton Rose Hall
Capri Riviera Maya Hyatt Ziva & Zilara
Jewel Paradise Cove
Cap Cana Jamaica Rooms
Hilton Playa del Carmen
Sanctuary Cap Cana 1. Hyatt Ziva Rose Hall 276
Hyatt Ziva Panama Jack Hilton La Romana
Puerto Vallarta Playa del Carmen Dreams Palm Beach 2. Hyatt Zilara Rose Hall 344
The Yucatan 3. Hilton Rose Hall 495
Resort Playa del 4. Jewel Paradise Cove 225
Carmen 5. Jewel Grande (Owned) 88
6. Jewel Grande(2) 129
Total Jamaica 1,557
Percentage by Region 19%
Managed by Playa Hotels & Resorts Managed by AMResorts (Apple Leisure)
Total Rooms: 8,366
1) Room count as of EOP April 2021, pro-forma for managed resorts not yet opened
2) Denotes management contract | 8
COMPANY OVERVIEW
Property Breakdown
PLAYA HOTELS & RESORTS N.V.
PLAYA RESORTS HOLDING B.V.
MANAGEMENT COMPANY
4 RESORTS
Sanctuary Cap Jewel Grande (1)
Cana (129 rooms)
The Yucatan Hyatt Ziva Riviera
Resort Playa del Cancun 18 RESORTS
Carmen
Hyatt Zilara Cap Hilton Panama Jack Panama Jack Hyatt Ziva Hyatt Ziva Rose
Cana La Romana: family Cancún Playa del Carmen Cancún Hall
Hyatt Ziva Cap Hilton Playa del Hyatt Zilara Hyatt Ziva Hyatt Ziva Hyatt Zilara Rose
Cana Carmen Cancún Los Cabos Puerto Vallarta Hall
Key
Jewel Hilton Hilton Dreams Palm Dreams Punta Capri
Paradise Cove Rose Hall La Romana: adults Beach Cana Hotel
Managed by Managed By Playa Playa Management
AMResorts Hotels & Resorts Contract
1) In addition to the 129 room management contract, Playa owns an 88 room hotel tower at the Jewel Grande. The 129 room tower and the 88 room tower are counted as one resort. | 9
PREMIER COLLECTION OF ALL-INCLUSIVE RESORTS ON
DESIRABLE BEACHFRONT
Highly Rated Resorts
(1)
TripAdvisor
Rating No. of Hotels TripAdvisor Rating
Price Range (Out of 5.0) Ranking in Region ' ' ' (# of Stars)
Hyatt Ziva/Zilara Cap Cana Luxury 4.5 1/2 162 Opened 4Q19
✓ 2015–2016,
Hyatt Ziva Cancún Luxury 4.5 12 235 ✓ 2016–2019 ✓ 2019 4.0 Stars
2018–2019
✓ 2012–2013, ✓ 2011–2012, 2016, 13%
Hyatt Zilara Cancún Luxury 4.5 17 235 ✓ 2011–2019
2016–2018 2019
Hyatt Ziva/Zilara Rose Hall Luxury 4.5 3 8 ✓ 2015–2019 ✓ 2018 ✓ 2016–2019
Hyatt Ziva Los Cabos Luxury 4.5 21 54 ✓ 2014–2019 ✓ 2012 ✓ 2011–2018
4.5 Stars
Hyatt Ziva Puerto Vallarta Luxury 4.5 19 142 ✓ 2015–2019 ✓ 2012–2014 ✓ 2012–2019
87%
Hilton Playa del Carmen Luxury 4.5 33 271 ✓ 2011–2019 ✓ 2016, 2018–2019 ✓ 2015, 2017–2019
Hilton La Romana Upscale 4.5 2 24 ✓ 2014–2015 ✓ 2017–2019
TripAdvisor Ranking (2)
(# of Hotels in Area)
Dreams Punta Cana Upscale 4.5 51 162 ✓ 2011–2019 ✓ 2018 ✓ 2015–2016, 2018
Not Top 50%
Dreams Palm Beach Upscale 4.5 52 162 ✓ 2011–2019 ✓ 2012, 2014 ✓ 2012, 2016 7%
Hilton Rose Hall Upscale 4.0 8 8 ✓ 2012, 2015–2019 ✓ 2011–2019
✓ 2012–2014,
Panama Jack Playa del Carmen Mid-range 4.5 34 271
2016–2019
Top 50.0%
Panama Jack Cancún Mid-range 4.0 19 235 ✓ 2016, 2018–2019 27%
Top 25.0%
Jewel Paradise Cove Mid-range 4.5 2 17 ✓ 2014 ✓ 2015–2019
67%
Jewel Grande Mid-range 4.5 1 8 ✓ 2018–2019 ✓ 2019
Resorts ranked within top quartile of market
(1) TripAdvisor ratings as of 11/15/2020 | 10
(2) Based on TripAdvisor rank relative to total hotels in the surrounding areaDIFFERENTIATED MODEL, RESILIENT THROUGHOUT LODGING CYCLE
Advantages of All-Inclusive Business Model
Benefits for Owners of All-Inclusive Higher EBITDA Margins (1)
▪ Guests book and pay further in LTM Adjusted EBITDA Margins
advance with fewer cancellations 4-Yr Historical Average (2016 – 2019)
Predictable
▪ More accurate planning of resources
Revenue and (e.g. in F&B) leads to the efficient use 29% 29%
Occupancy of labor and less waste 27%
▪ Leverage economies of scale
25%
▪ All-inclusive price includes 24%
Greater Share of – Room
Customer Wallet – Food & Beverage
– Entertainment
▪ High-margin premium services not
included in the all-inclusive package
Generate – Spa
Additional – Fine wine/premium alcohol
Revenue Through – Wedding packages
High-Margin – Room upgrades
Premium Services ▪ Guests more likely to buy upgrades at
the resort since their stay is paid in
advance
▪ Value for money - less expensive
High Customer than purchasing items a la carte
Satisfaction ▪ Total cost certainty Playa Leisure Upscale Global Hotel Emerging
▪ Convenient one-stop shopping Companies Lodging REITS Companies Markets Hotel
Companies
1) Other companies may calculate Adjusted EBITDA differently than Playa, and therefore, Playa’s Adjusted EBITDA may not be directly comparable to similarly titled measures of other
companies.
2) Markets include Cancún/Riviera Maya, Los Cabos, Puerto Vallarta, Punta Cana, La Romana and Montego Bay. | 11
Sources: JLL, SECTUR, Barometro Turistico, Punta Cana Hotel Association, Ministry of Tourism, Jamaica Tourism BoardCOMPANY OVERVIEW
The Power of The All-Inclusive Business Model
All-Inclusive Model Traditional (European) Hotel Model
▪ Quoted rate includes lodging, food,
▪ Quoted rate is strictly for the room and
beverages, kids club, taxes and many
recreational activities Vs. does not include any food, beverages,
WiFi, kids club, incidentals, taxes, and
▪ Increased ability to yield manage and often a hefty resort fee which are billed
staff separately
▪ Great value for guest given higher and ▪ Shorter length of stay, higher cost per
more predictable utilization guest (lower margin)
▪ Stress-free budgeting ▪ Guests often complain of feeling “nickel
and dimed”
▪ Saves time
▪ The longer you stay, the lower your per
▪ Guest arrives with fresh wallet driving night spend
high-margin premium sales
▪ Hotel taxes and gratuities are usually not
▪ Increased length of stay, which lowers included
costs and increased revenue per guest
| 12COMPANY OVERVIEW
The All-Inclusive Model vs. Traditional European Model
ALL-INCLUSIVE MODEL EUROPEAN MODEL
• Quoted rate includes lodging, food, beverages, and many • Quoted rate is strictly for lodging; food and incidentals
recreational activities provided by the hotel are billed separately
• Includes hotel taxes and gratuities • Hotel taxes, resort fees, and gratuities are usually not
included
Off-Season Peak-Season
(Four nights - Two adults, two kids) (Six nights – Two adults, two kids)
$4,500 $12,000
36% Savings $4,044 25% Savings
$4,000 $10,078
$10,000
$3,500
30%
$3,000 $2,609 $2,228
55% $8,000
$7,599 $3,043
Total Cost
Total Cost
$2,500
$6,000
$2,000
70%
$1,500 $4,000 $7,599
$2,609 $7,035
45%
$1,000
$1,816
$2,000
$500
$0 $0
Playa (All-Inclusive) Competitor (European Model) (3) Playa (All-Inclusive) Competitor (European Model)
(3)
(1) (2) (1) (2)
Room Rate Additional Charges Total Room Rate Additional Charges Total
1) Playa (All-Inclusive) room rates include: Food & Beverage, Most activities, Taxes, and Fees
2) Additional charges typically include: Food & Beverage, Activities, Taxes, and Fees | 13
3) Competitor rates are averages of comparably ranked hotels obtained from JW Marriott, Hyatt, etc.COMPANY OVERVIEW
Brand Differentiation
Playa Brands vs. Competing Brands
◼ The all-inclusive resort segment is saturated with brands that have limited U.S. consumer recognition.
◼ Many of these resorts are owned and managed by smaller operators who often lack capital resources.
◼ Playa has the unique opportunity to leverage Hyatt’s, Hilton’s, and Panama Jack’s world-renowned brands in the all-inclusive market.
| 14Branding Benefits
| 15Branding Benefits
The Guests Perspective
▪ Brands instill a sense of
familiarity, reliability, and lower
risk
▪ Reduce customers’ search
costs
▪ Increase the perception of the
resort being a high quality
value proposition
▪ Have a stronger influence on
guests’ perceptions than
location or chain scale
| 16Branding Benefits
Playa’s Global Brand Partners
▪ Hyatt’s and Hilton’s selection of Playa as its strategic partner in the
development and management of all-inclusive resorts throughout the
Caribbean, Mexico and Latin America reflects their confidence and
conviction in Playa’s best-in-class stewardship of all-inclusive resorts
▪ The benefits of branding:
▪ Efficiently introduces Playa to new guests given the global brand
partner’s broad geographic sales and marketing footprint,
particularly in the MICE Group space
▪ Brand familiarity is attractive to “first-time all-inclusive” customers
▪ Facilitates conversion of first-timers to Playa’s other properties,
brands, and geographies
▪ Lowers customer acquisition costs
▪ Immediate access to Hyatt and Hilton’s nearly 135 million
loyalty members
▪ Increases propensity to book direct
▪ Increases RevPAR index premiums; Hilton’s current US
RevPAR index premium system-wide is 1.15(1)
▪ Limited cannibalization of existing assets given high percentage of
redemptions and minimal overlap of top tier loyalty members
▪ Benefits of scale – purchasing, marketing, share of voice
▪ Partnerships contributes a second set of eyes aimed at maximizing
returns and guest satisfaction
• Source: Hilton’s 4Q18 & 4Q19 earnings conference call
| 17Branding Benefits
The Owner/Manager’s View
▪ Branding generates immediate customer recognition for a new or converted
property
▪ Assists in attracting new customers and retaining current customers
▪ A brand conveys a certain level of quality and service
▪ Exposure to new customers, who may not be familiar with All-Inclusive
▪ Increases the propensity for cross pollination and repeat visitation
▪ Brands are the #1 corollary with online reputation scores
▪ TripAdvisor, Expedia, Booking.com
▪ Brands have been proven to reduce price sensitivity and encourage purchase
decisions, resulting in higher revenues
▪ Globally recognized brand leaders provide access to marketing and PR scale
• Anderson, C.K., & Han, S. (2018) Indexing hotel brand reputation. Cornell Hospitality Report, 18(7), 1 – 16.
• Carvell, S. A., Canina, L., & Sturman, M.C. (2016). A comparison of the performance of brand-affiliated and unaffiliated hotel properties. Cornell Hospitality Quarterly, 57 (2), | 18Branding Benefits
The Owner/Manager’s View - Continued
▪ "Occupancy Insurance“
▪ Branded properties run 5.9 percentage points higher occupancy, on
average
▪ In secondary markets, branded properties generate premium ADRs and
premium RevPARs
▪ Branded properties' fundamentals outperform in downturns
▪ Branded hotels have lower failure rates
▪ Branded hotels have higher rates of group business
▪ Strategic alliances with leading global franchisors limits competition,
particularly for the key US brands
▪ Higher NAV for branded hotels affiliated with global franchisors
| 19Branding Benefits
The Role of Branding in Loyalty
▪ Brands have higher rates of customer loyalty and
engagement
▪ 80% of frequent business travelers use loyalty
programs as part of their booking decision
▪ Loyalty program members have been shown
to spend 62% more room nights with their
preferred chain than non-members, and spend
3.10x the amount of non-members annually,
on average
▪ Top-tier guests have been shown to spend on
average $16,800 a year at their preferred
chain vs. $470 annually for non-member
guests, and $860 for entry-tier guests
▪ Loyalty program members can contribute upwards
of 60% of occupancy on average on any given night
▪ And an even higher percentage of revenues as
tiered guests spend more
▪ Limited overlap in highest tier loyalty members
• Source: Deloitte, Winning the Race for Guest Loyalty, 2014: Jennings, S. & Giorgio, P.
• Hyatt Hotels 2016 analyst day slide deck | 20Branding Benefits
Branding Lowers Customer Acquisition Costs
Branding provides immediate access to loyalty program members
and billions in unredeemed loyalty program points
135
MILLION
Immediate access to over 135 million loyalty members, with over
$2 billion worth of unredeemed loyalty points
Loyalty Members Brands Current Properties Rooms in Pipeline
147 MM 30 7,600+ 498K
THE STRATEGIC PLAN
112 MM 18 6,400+ 397K
25 MM 20 975+ 101K
Ziva & Zilara have the highest share of redemption room nights with Hyatt.
Brands approximately sell 50% of room supply with loyalty customers.
• Source: All information sourced from the companies SEC Q4 2020 Quarterly Filings, company press releases or 2020 Annual Reports
| 21Branding Benefits
Breakdown of Customer Acquisition Costs by Channel
Upper-Upscale Customer Acquisition Cost by Channel
Channel Acquisition Cost
Playaresorts.com 3% - 8%
Property Direct 2% - 3%
Voice 5% - 6%
Brand.com 5% - 6%
Group 6% - 7%
GDS 13% - 14%
OTA 17% - 18%
FIT/Wholesale 24% - 25%
• Source: All metrics with the exception of Playaresorts.com are industry estimates . Kalibri Labs., company estimates. | 22Branding Benefits
Direct Booking Progress
Targeting 50% Direct Revenue Booking by YE 2023
Direct Booking Penetration (1)
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21
Direct Stayed Revenue Mix Direct Booked Revenue Mix
1) Percentages are for Playa managed rooms only | 23Branding Benefits
Benefits To The Brand Company
▪ Highly valuable and desirable point
redemption opportunity
▪ A differentiated product offering vs.
current resort and leisure
alternatives
▪ Price certainty for guests
▪ High levels of guest satisfaction with
customer ratings averaging 4.5 on
TripAdvisor
▪ Consistent with their asset light and
low capital intensity business models
▪ Highly acclaimed locally experienced
owner-operator partner
| 24Branding Benefits
Financial Benefits of Branding
▪ Increased access to capital owing to lower
volatility and occupancy, outperformance
in downturns, higher NAVs, and in non-
primary markets, higher ADRs
▪ Lower cost of financing for properties
affiliated with top tier brands
▪ Access to key money and mezzanine
loans
▪ Higher NAVs for properties affiliated with
global franchisors
▪ Brand partners are a second set of eyes,
focused on maximizing returns
▪ Access to purchasing scale and more
favorable commission rates
| 25TECHNOLOGY INITIATIVES
Initiative Description Launch
Dynamic RMS system that helps optimize segments and
Yield Management System Q1 2019
room type mix to achieve improvements in ADR
Built and launched a solid, stable website and booking
New Website platform, with enhanced usability to convert users at a higher Mid 2018
percentage.
Use sophisticated algorithms to identify new revenue
Upsell Technology opportunities via the sale of ancillary items and services in Q1 2019
real time.
Enables travel agents to book directly through our site without
Travel Agent Portal Q4 2018
the need for a tour operator; saving 7-9% per booking.
| 26Capital Allocation Strategy
| 27CAPITAL ALLOCATION STRATEGY
Creating Value Through Branding Partnerships - Case Studies
Current Branded Locations Positive Impact
Pre Post
$325
ADR $225
($)
(1) (1)
Hyatt Zilara Cancún Hyatt Ziva Cancún 2013A 2019A
$266
$169
RevPAR
($)
Hyatt Ziva / Zilara Rose Hall (1) (1)
2013A 2019A
$80
Adjusted
EBITDA
$31
($M)
(1) (1)
Hyatt Ziva Puerto Vallarta Hyatt Ziva Los Cabos 2013A 2019A
Playa’s historical fully stabilized conversion and expansion projects have generated an average
(1)
34% cash on cash return
(1) Includes Hyatt Ziva Cancún, Hyatt Zilara Cancún, Hyatt Ziva Los Cabos & Hyatt Ziva Puerto Vallarta. ADR & RevPAR calculated Year-to-Date as of 12/31/2013 and 12/31/2019 | 28CAPITAL ALLOCATION STRATEGY
Recent Discretionary CAPEX Spend
Hyatt Ziva & Zilara Cap Cana Hilton Playa del Carmen
Hyatt Ziva & Zilara Cap Cana Hilton Playa del Carmen Hilton La Romana
(1)
Hotel Completion Date Project Cost Cash-on-Cash Return Target(2)
Hyatt Ziva & Zilara Cap Cana Q4 2019 ~$265M Stabilized Year: ~12% - 15%
Hilton Playa del Carmen Q4 2019 ~$15M Stabilized Year: ~13% - 17%
Hilton La Romana Q4 2019 ~$50M Stabilized Year: ~11% - 14%
(1) Project costs are net of key money
(2) Cash-on-Cash return calculated by dividing the incremental EBITDA generated by the renovation (Stabilized Year incremental EBITDA over 2018) by the redevelopment cost. Project cost is net of | 29
key money and VAT.PROVEN DEVELOPMENT AND BRAND CONVERSION TRACK RECORD
Track Record of Successful Development: Case Study: Hyatt Ziva / Zilara Rose Hall
620 4Q 2017
Rooms Completed
$106mm ~21%
Project Cost Cash-on-Cash Return
Acquisition & New Construction – $278k / Key (1)
Zilara Building
▪ 124 New Rooms
▪ Lobby-reception, bar & lounge and restaurant
Rose Hall Village
▪ 69 new rooms
▪ 5 restaurants & 3 bars
▪ Outdoor terrace for dining and shows
▪ Sky wedding lounge
Renovations
▪ Soft-goods renovation of all rooms and public areas
▪ New laundry and kitchen equipment
▪ 12 new pools with 2 wet and dry bars
▪ New Zilara Beach Restaurant & Spa
(1) Includes acquisition costs. | 30PROVEN DEVELOPMENT AND BRAND CONVERSION TRACK RECORD
Track Record of Successful Development: Case Study: Hyatt Ziva Cancun
547 4Q 2015
Rooms Opened
$81mm ~35%
Project Cost Cash-on-Cash Return
New Construction – $148k / key
New beach tower
▪ 12 floors, as well as 169 new rooms, a spa, and
beach restaurant
New central facilities building
▪ Lobby / reception, rooftop lounge & pool and 7
restaurants & bars
New village corridor
▪ 3 F&B outlets, gym, kid’s club, sky wedding roof
deck and retail shops
New parking structure
▪ 128 parking spaces and rooftop tennis courts
External areas
▪ New pools, including completely refurbished
dolphin pool and new beach restaurant
| 31MULTIPLE PORTFOLIO VALUE-ADD OPPORTUNITIES
Overview of Externally Managed Assets Contract Internalization Opportunity
– Successful history of internalization of Barceló and
2 Playa resorts currently managed by AMResorts contracts:
AMResorts o Barceló Los Cabos (2013)
o Dreams Puerto Vallarta (2014)
o Dreams Cancύn (2015)
o Dreams La Romana (2018)
Dreams Palm Beach – Potential savings from management fees
– Potential upside from internalization of distribution could
Contract Expiration: Feb provide additional high margin savings
2025 – Ability to rebrand some Dreams and Jewel hotels
Existing Brand Relationships
Ability to Rebrand Industry Leading Brands
Dreams Punta Cana
Contract Expiration: Dec
2022
| 32CONCLUSION
Leading Owner Operator with Significant Growth Opportunity
Premier Collection of All-Inclusive
▪ Prime oceanfront real estate
Resorts with best in class brand ▪ Preeminent destination markets
partners in Highly Desirable
Locations
▪ Less reliant on demand from business travelers
▪ Attractive price-to-value leisure destination
Differentiated, Resilient Business ▪ High degree of cost certainty provides more control /
Model flexibility in cost management
▪ Guests more likely to upgrade to high-margin premium
services, since their stay is paid in advance
▪ Successful strategic alliance with Hyatt, resulting in higher
Success at Strategic Alliances and rate and occupancy
Investments ▪ Strategic alliance with Hilton should fuel direct bookings and
drive outsized returns
▪ Direct to consumer strategy
▪ Significant embedded growth from recently renovated
Significant Growth Opportunity portfolio
▪ Fragmented industry provides acquisition opportunities
▪ Pursue capital-light strategy
| 33Appendix - Experienced Leadership
| 34BEST-IN-CLASS MANAGEMENT TEAM WITH PROVEN TRACK RECORD
Experienced Management Team…
Years in Time at
Previous Experience
Industry Playa
Bruce Wardinski 34 years 15 years
• Founded Playa Hotels & Resorts in 2006, retains 2% personal stake in the company
• Previously served as Chairman, President, and CEO of Barceló Crestline Corporation (BCC)
Chairman and • Former Chairman and CEO of Crestline Capital (NYSE: CLJ) after its spin-off from Host Marriott when
CEO of Playa
Hotels & Host Marriott converted to a REIT
Resorts N.V. • Founded and served as Chairman of Board of Highland Hospitality Corporation (NYSE: HIH) from
2003 – 2007, a self-advised real estate investment trust
• Served as SVP and Treasurer of Host Marriott and spent six years at Marriott Corporation prior to that
• Oversaw REIT conversions, spin-offs, IPOs, and company sales in broad global markets (Europe,
Latin America and Asia) throughout his executive experiences
• Extensive experience managing and developing upscale hotels in Europe, North America and the
Greg Maliassas 20+ yearsAPPENDIX: EXPERIENCED LEADERSHIP
Executive Team
Years in Time at
Industry Playa Previous Experience
31 year 1 Years ▪ 31 years legal experience
Tracy Colden ▪ Prior law experience includes: General Counsel, Executive Vice President and Corporate
Secretary with Highland Hospitality Corporation (NYSE: HIH) and Crestline Capital Corporation
(NYSE: CLJ); and Assistant General Counsel at Host Hotels & Resorts (formerly the Host Marriott
Corporation), and associate at Hogan Lovells (formerly Hogan & Hartson).
▪ For the past 11 years, she acted as principal of The Law Offices of Tracy M. J. Colden in Miami
and outside counsel for Chesapeake Lodging Trust (NYSE: CHSP).
EVP & General Counsel of
Playa Hotels & Resorts
19 years 15 years ▪ Has been with Playa Hotels & Resorts since its inception in 2006 and currently heads its
Acquisitions Group
Fernando Mulet ▪ Last served as Director of International Investment & Asset Management with Highland
Hospitality
▪ Started his career within the hospitality industry at Barceló Hotels & Resorts holding different
positions both at the corporate and hotel level in Mexico, Spain and in the US.
Executive Vice President
of Development
| 36Appendix: Portfolio Overview
| 37APPENDIX: PORTFOLIO OVERVIEW
Yucatan Peninsula
1 2 3
Hyatt Zilara Cancun Hyatt Ziva Cancun Panama Jack Cancun
4 5 6
Panama Jack Cancun Hilton Playa del Carmen Capri Riviera Maya
Year Signficant (1)
Built Renovation Rooms
1 Hyatt Zilara Cancún Cancún, Mexico 2006 2013 310
2 Hyatt Ziva Cancún Cancún, Mexico 1975 2015 547
7
Hyatt Ziva Riviera Cancun 3 Panama Jack Cancún Cancún, Mexico 1985 2018 458
4 Panama Jack Playa del Carmen Playa del Carmen, Mexico 1996 2018 287
5 Hilton Playa del Carmen Playa del Carmen, Mexico 2002 2019 524
6 Capri Riviera Maya Riviera Maya, Mexico 2003 2021 291
(2)
7 Hyatt Ziva Riviera Cancun Riviera Maya, Mexico 2008 2021 438
8 (2)
The Yucatan Resort Playa del Carmen 8 The Yucatan Resort Playa del Carmen Playa del Carmen, Mexico 2012 - 60
1) Includes renovations, repositioning and expansions
2) Management contract | 38APPENDIX: PORTFOLIO OVERVIEW
Pacific Coast & Dominican Republic
9 10 11/12
Hyatt Ziva Puerto Vallarta Hyatt Ziva Los Cabos Hilton La Romana
13 14 15 16
Dreams Palm Beach Dreams Punta Cana Hyatt Ziva & Zilara Cap Cana
Signficant (1)
9 Year Built Renovation Rooms
Hyatt Ziva Puerto Vallarta Puerto Vallarta, Mexico 1969 2014 335
10
Hyatt Ziva Los Cabos San Jose del Cabo, Mexico 2007 2015 591
11
Hilton La Romana, All-ages La Romana, Dominican Republic 1997 2019 418
12 Hilton La Romana, Adults La Romana, Dominican Republic 2019 356
13 Dreams Palm Beach Punta Cana, Dominican Republic 1994 2008 500
14 Dreams Punta Cana Punta Cana, Dominican Republic 2004 2004 620
17 15 Hyatt Ziva Cap Cana Cap Cana, Dominican Republic 2019 - 375
Sanctuary Cap Cana
16 Hyatt Zilara Cap Cana Cap Cana, Dominican Republic 2019 - 375
(2)
17 Sanctuary Cap Cana Cap Cana, Dominican Republic 2008 2018 324
1) Includes renovations, repositioning and expansions
2) Management contract | 39APPENDIX: PORTFOLIO OVERVIEW
Jamaica
20
Hilton Rose Hall
18 19
Hyatt Ziva & Zilara Rose Hall
21
Jewel Paradise Cove
Signficant
Year Built Renovation(1) Rooms
18 Hyatt Zilara Rose Hall Montego Bay, Jamaica 2000 2017 344
19 Hyatt Ziva Rose Hall Montego Bay, Jamaica 2000 2017 276
20 Hilton Rose Hall Montego Bay, Jamaica 1974 2016 495
21 Jewel Paradise Cove St. Ann’s Bay, Jamaica 1977 2013 225
22 Jewel Grande (owned) Montego Bay, Jamaica 2010 2017 88 22 23
(2)
Jewel Grande
23 Jewel Grande (managed) Montego Bay, Jamaica 2010 2017 129
1) Includes renovations, repositionings and expansions.
2) Management contract. Both Grande towers are considered one resort. | 40| 41
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