FAIRFAX, Va.Dec. 19, 2023 — Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the “Company”) today announced that it has closed on the sale of the Jewel Punta Cana for a total gross consideration of $82.0 million. The Company expects total net proceeds of approximately $70.0 million. The Company has also entered into a long-term hotel management agreement with the new owner to manage the resort. The transaction was completed on December 15, 2023.

Proceeds from the transaction will be used for general corporate purposes.