Playa Hotels & Resorts N.V. (NASDAQ:PLYA) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 09:00 am ET

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Playa Hotels & Resorts N.V. (NASDAQ:PLYA) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, hello and thank you for standing by. Welcome to Playa management's Third Quarter Earnings Conference Call. [Operator Instructions]

I would now like to have the conference over to your host, Mr. Ryan Hymel. Thank you. Please go ahead, sir.

Executive
Ryan Hymel

Thank you very much, Jerome. Good morning, everyone. Welcome to Playa Hotels and Resorts Third Quarter 2019 Earnings Conference Call. Before we begin, I'd like to remind participants that many of our comments today will be considered forward-looking statements and are subject to numerous risks and uncertainties that may cause the company's actual results to differ materially from what has been communicated.

Forward looking statements made today are effective only as of today, and the company undertakes no obligation to update forward-looking statements. For discussion of some of the factors that could cause our actual results to differ, please review the risk factors section of our Annual Report on Form 10-K, which we filed at the end of February, at the Securities and Exchange Commission.

We've updated our Investor Relations website at www.investors.playaresorts.com with today's presentation and recent releases. In addition, a reconciliation to GAAP of the non-GAAP financial measures we discussed on this call were included in yesterday's press release.

On today's call, Bruce Wardinski, Playa's Chairman and Chief Executive Officer will provide some comments on the third quarter and key operational highlights. I will then address our third quarter results and 2019 outlook. Bruce will then wrap up the call with some concluding remarks before we turn it over to Q&A.

With that, I'll turn it over to Bruce.

Executive
Bruce Wardinski

Great. Thanks, Ryan. Good morning, everyone. And thanks for joining us. We appreciate your interest in Playa. I'll begin today by reviewing several of our third quarter strategic accomplishments and then give some high level thoughts on the operating environment, as well as give update on our near term initiatives and outlook.

I'll then turn the call over to Ryan to discuss our third quarter results in our 2019 outlook in more detail. Before we dive into the results, I'm pleased to share that last week we opened the highly anticipated Hyatt Cap Cana and we are rapidly approaching the unveiling of our three newly remodelled and rebranded Hilton all-inclusive resorts totaling over 1200 rooms.

A very big thank you to all of our team members and associates for their hard work and dedication in making these fantastic properties a reality, we highly encourage everyone to go see these iconic properties, that I say will be key drivers that apply a success for years to come.

Now, turning to our third quarter results, at a high level our third quarter fundamentals we're encouraging across the majority of our portfolio. Similar to last quarter, we saw robust top and bottom line trend out of Jamaica and the Pacific Coast, as both segments benefited from strong group business performance in the quarter.

In the Yucatan, RevPAR was largely in line with our expectations with fundamentals that we hope are beginning