Headquartered in Fairfax, Virginia, Playa Hotels & Resorts N.V. (PLYA) owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns a portfolio of 22 resorts with 8,366 rooms located in Mexico, Jamaica, and the Dominican Republic as of December 31, 2021.
Rising concerns over the surging inflation and the Fed’s interest rate hikes to control it have prompted consumers to cut down on their expenses, especially traveling budgets, to cope with rising costs. Moreover, the brief disruption from the omicron variant at the start of the year led to slowing travel activities in the first quarter. However, PLAY’s first-quarter financial results exceeded the company’s expectations.
