Playa Hotels & Resorts Completes $82 Million Sale of Jewel Punta Cana

The content originally appeared on: News Americas Now

News Americas, NEW YORK, NY, Tues. Dec. 19, 2023: Playa Hotels & Resorts N.V. (NASDAQ: PLYA) has successfully concluded the sale of the Jewel Punta Cana, securing a total gross consideration of $82.0 million in a transaction completed on December 15, 2023.

The company anticipates total net proceeds of approximately $70.0 million from the sale. As part of the deal, Playa Hotels & Resorts has also entered into a long-term hotel management agreement with the new owner to continue managing the resort. The funds generated from this transaction will be allocated for general corporate purposes.

Situated just 20 minutes from the Punta Cana International Airport on the picturesque Uvero Alto Beach, the 620-room, all-ages resort remains an attractive destination for travelers.