Playa Hotels & Resorts (PLYA) 10-K 25 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38012
Entity Registrant Name	Playa Hotels & Resorts N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1346104
Entity Address, Address Line One	Keizersgracht 555
Entity Address, Postal Zip Code	1017 DR
Entity Address, City or Town	Amsterdam,
Entity Address, Country	NL
Country Region	31
City Area Code	20
Local Phone Number	240 9000
Title of 12(b) Security	Ordinary Shares, €0.10 par value
Trading Symbol	PLYA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 922.4
Entity Common Stock, Shares Outstanding		122,988,198
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III of this Annual Report on Form 10-K incorporates by reference portions of the registrant’s Proxy Statement for its extraordinary general meeting of shareholders to be filed within 120 days after December 31, 2024.
Entity Central Index Key	0001692412
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	McLean, VA

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 189,278	$ 272,520
Insurance recoverable	14,549	9,821
Inventories	17,226	19,963
Prepayments and other assets	55,065	54,294
Property and equipment, net	1,374,330	1,415,572
Derivative financial assets	1,672	2,966
Goodwill, net	60,642	60,642
Other intangible assets	2,091	4,357
Deferred tax assets	11,491	12,967
Assets held for sale	28,227	0
Total assets	1,823,088	1,933,725
LIABILITIES AND SHAREHOLDERS' EQUITY
Income tax payable	15,442	11,592
Debt	1,069,543	1,061,376
Derivative financial liabilities	12,581	0
Other liabilities	27,512	33,970
Deferred tax liabilities	54,932	64,815
Total liabilities	1,341,198	1,378,928
Commitments and contingencies (see Note 7)
Shareholders’ equity
Ordinary shares (par value €0.10; 500,000,000 shares authorized, 172,016,422 shares issued and 121,554,617 shares outstanding as of December 31, 2024, and 169,423,980 shares issued and 136,081,891 shares outstanding as of December 31, 2023)	19,104	18,822
Treasury shares (at cost, 50,461,805 shares as of December 31, 2024 and 33,342,089 shares as of December 31, 2023)	(399,732)	(248,174)
Paid-in capital	1,216,802	1,202,175
Accumulated other comprehensive (loss) income	(8,959)	1,112
Accumulated deficit	(345,325)	(419,138)
Total shareholders’ equity	481,890	554,797
Total liabilities and shareholders' equity	1,823,088	1,933,725
Nonrelated Party
ASSETS
Trade and other receivables, net	66,957	74,762
LIABILITIES AND SHAREHOLDERS' EQUITY
Trade and other payables	154,577	196,432
Related Party
ASSETS
Trade and other receivables, net	1,560	5,861
LIABILITIES AND SHAREHOLDERS' EQUITY
Trade and other payables	$ 6,611	$ 10,743

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - € / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Ordinary shares, par value (in euros per share)	€ 0.10	€ 0.10
Ordinary shares, authorized (in shares)	500,000,000	500,000,000
Ordinary shares, issued (in shares)	172,016,422	169,423,980
Ordinary shares, outstanding (in shares)	121,554,617	136,081,891
Treasury shares, at cost (in shares)	50,461,805	33,342,089

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue
Total revenue	$ 938,569	$ 977,504	$ 856,263
Direct and selling, general and administrative expenses
Direct	498,166	516,449	459,030
Selling, general and administrative	199,367	192,822	186,608
Depreciation and amortization	78,580	81,827	78,372
Reimbursed costs	9,873	12,475	9,706
(Gain) loss on sale of assets	(18,161)	5,069	6
Gain on insurance proceeds	(2,886)	(5,580)	0
Business interruption insurance recoveries	(281)	(555)	(7,226)
Direct and selling, general and administrative expenses	764,658	802,507	726,496
Operating income	173,911	174,997	129,767
Interest expense	(89,364)	(108,184)	(64,164)
Loss on extinguishment of debt	(1,043)	(894)	(18,307)
Other (expense) income	(1,738)	(353)	3,857
Net income before tax	81,766	65,566	51,153
Income tax (provision) benefit	(7,953)	(11,714)	5,553
Net income	$ 73,813	$ 53,852	$ 56,706
Earnings per share
Basic (in dollars per share)	$ 0.57	$ 0.36	$ 0.34
Diluted (in dollars per share)	$ 0.56	$ 0.36	$ 0.34
Weighted average number of shares outstanding during the period - Basic (in shares)	129,737,022	148,063,358	164,782,886
Weighted average number of shares outstanding during the period - Diluted (in shares)	131,521,526	150,309,674	166,077,802
Package
Revenue
Total revenue	$ 796,487	$ 824,122	$ 723,375
Non-package
Revenue
Total revenue	118,640	121,422	116,602
The Playa Collection
Revenue
Total revenue	5,949	3,642	1,752
Management fees
Revenue
Total revenue	6,148	7,030	3,828
Cost reimbursements
Revenue
Total revenue	9,873	12,475	9,706
Other revenues
Revenue
Total revenue	$ 1,472	$ 8,813	$ 1,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 73,813	$ 53,852	$ 56,706
Other comprehensive (loss) income
(Loss) gain on derivative financial instruments (see Note 13)	(13,735)	5,474	11,737
Release of foreign currency translation reserve related to resort sales (see Note 4)	665	2,652	0
Pension obligation gain (loss), net of tax (see Note 15)	2,999	(29)	(51)
Total other comprehensive (loss) income	(10,071)	8,097	11,686
Comprehensive income	$ 63,742	$ 61,949	$ 68,392

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Ordinary Shares	Treasury Shares	Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		164,438,280	2,208,004
Beginning balance at Dec. 31, 2021	$ 630,834	$ 18,518	$ (16,697)	$ 1,177,380	$ (18,671)	$ (529,696)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,706					56,706
Other comprehensive income (loss)	11,686				11,686
Share-based compensation (in shares)		1,629,220
Share-based compensation	$ 11,892	$ 182		11,710
Repurchase of ordinary shares (in shares)	(7,838,992)	(7,838,992)	(7,838,992)
Repurchase of ordinary shares	$ (46,256)		$ (46,256)
Ending balance at Dec. 31, 2022	664,862	$ 18,700	$ (62,953)	1,189,090	(6,985)	(472,990)
Ending balance (in shares) at Dec. 31, 2022		158,228,508	10,046,996
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,852					53,852
Other comprehensive income (loss)	8,097				8,097
Share-based compensation (in shares)		1,148,476
Share-based compensation	$ 13,207	$ 122		13,085
Repurchase of ordinary shares (in shares)	(23,295,093)	(23,295,093)	(23,295,093)
Repurchase of ordinary shares	$ (185,221)		$ (185,221)
Ending balance at Dec. 31, 2023	$ 554,797	$ 18,822	$ (248,174)	1,202,175	1,112	(419,138)
Ending balance (in shares) at Dec. 31, 2023	136,081,891	136,081,891	33,342,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 73,813					73,813
Other comprehensive income (loss)	(10,071)				(10,071)
Share-based compensation (in shares)		2,579,278	13,164
Share-based compensation	$ 14,800	$ 282	$ (109)	14,627
Repurchase of ordinary shares (in shares)	(17,106,552)	(17,106,552)	(17,106,552)
Repurchase of ordinary shares	$ (151,449)		$ (151,449)
Ending balance at Dec. 31, 2024	$ 481,890	$ 19,104	$ (399,732)	$ 1,216,802	$ (8,959)	$ (345,325)
Ending balance (in shares) at Dec. 31, 2024	121,554,617	121,554,617	50,461,805

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 73,813	$ 53,852	$ 56,706
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	78,580	81,827	78,372
Amortization of debt discount and issuance costs	6,131	6,471	3,952
Loss on extinguishment of debt	1,043	894	18,307
Share-based compensation	14,909	13,207	11,892
Loss (gain) on derivative financial instruments	140	6,018	(14,316)
Deferred income taxes	(8,406)	(3,031)	(6,994)
(Gain) loss on sale of assets	(18,161)	5,069	6
Amortization of key money	(754)	(773)	(1,228)
Provision for (recovery of) doubtful accounts	2,282	375	(870)
Other	842	(671)	456
Changes in assets and liabilities:
Insurance recoverable	(4,728)	6,381	(40,579)
Inventories	1,736	(1,373)	(2,018)
Prepayments and other assets	(1,559)	(8,469)	(999)
Trade and other payables	(39,974)	(29,703)	68,759
Payables to related parties	(4,132)	3,891	1,802
Income tax payable	3,850	11,403	162
Other liabilities	(2,319)	371	2,230
Net cash provided by operating activities	113,117	136,374	158,230
INVESTING ACTIVITIES
Capital expenditures	(96,869)	(46,186)	(28,735)
Purchase of intangibles	(381)	(235)	(484)
Payment of key money	(485)	0	(4,500)
Proceeds from the sale of assets, net	64,544	78,964	182
Property damage insurance proceeds	0	17,989	6,388
Net cash (used in) provided by investing activities	(33,191)	50,532	(27,149)
FINANCING ACTIVITIES
Proceeds from debt issuance, net of discount	0	0	1,061,500
Issuance costs of debt	(14)	(6)	(6,812)
Repayment of debt	(11,000)	(11,000)	(941,868)
Repayment of debt from related parties	0	0	(208,545)
Repurchase of ordinary shares	(151,449)	(186,889)	(44,588)
Repurchase of ordinary shares for tax withholdings	(109)	0	0
Principal payments on finance lease obligations	(596)	(436)	(400)
Net cash used in financing activities	(163,168)	(198,331)	(140,713)
DECREASE IN CASH AND CASH EQUIVALENTS	(83,242)	(11,425)	(9,632)
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	272,520	283,945	293,577
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	189,278	272,520	283,945
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest, net of interest capitalized	84,051	97,097	75,492
Cash paid for income taxes, net	13,617	4,393	1,098
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Capital expenditures incurred but not yet paid	2,218	2,430	2,328
Costs of sale not yet paid	264	890	0
Right-of-use assets obtained in exchange for new financing lease liabilities	25,889	0	0
Right-of-use assets terminated in exchange for settlement of financing lease liabilities	(13,335)	0	0
Right-of-use assets obtained in exchange for new operating lease liabilities	0	4,151	0
Repurchase of ordinary shares not yet settled	0	0	1,668
Par value of vested restricted share awards	282	122	182
Nonrelated Party
Changes in assets and liabilities:
Trade and other receivables, net	5,523	(12,310)	(16,585)
Related Party
Changes in assets and liabilities:
Trade and other receivables, net	$ 4,301	$ 2,945	$ (825)

Organization, operations and ba

Organization, operations and basis of presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, operations and basis of presentation	Organization, operations and basis of presentation Background Playa Hotels & Resorts N.V. (“Playa” or the “Company”), through its subsidiaries, is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations. We own and/or manage a portfolio of 24 resorts located in Mexico, the Dominican Republic and Jamaica. Unless otherwise indicated or the context requires otherwise, references in our consolidated financial statements (our “Consolidated Financial Statements”) to “we,” “our,” “us” and similar expressions refer to Playa and its subsidiaries. The Proposed Hyatt Transaction On February 9, 2025, the Company entered into a purchase agreement with Hyatt Hotels Corporation (“Hyatt”) and its wholly-owned subsidiary (the “Hyatt Purchase Agreement”), pursuant to which, and upon the terms and subject to the conditions thereof, such wholly-owned subsidiary of Hyatt will commence a tender offer to purchase all of the Company’s outstanding ordinary shares at a cash price of $13.50 per share, less any applicable withholding taxes and without interest. In the event the tender offer conditions are satisfied and the tender offer is closed, the parties will consummate a corporate reorganization that will result in the Company being wholly-owned by Hyatt. Upon completion of the corporate reorganization, Playa will no longer be a publicly traded company and will cease to exist, and the listing of the ordinary shares on Nasdaq will have been terminated. Refer to Note 18 regarding the Hyatt Purchase Agreement, the transactions provided for thereunder, and the various conditions to closing the transaction. Basis of preparation, presentation and measurement Our Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Results for the comparative prior periods have been reclassified to conform to the current period presentation.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant accounting policies	Significant accounting policies Principles of consolidation Our Consolidated Financial Statements include the accounts of Playa and our subsidiaries, all of which we wholly own and control. All intercompany transactions and balances have been eliminated in the consolidation process. Use of estimates The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. We evaluate our estimates and assumptions periodically. Estimates are based on historical experience and on other factors that are considered to be reasonable under the circumstances. Significant accounting policies that require us to exercise judgment or make significant estimates include the useful lives of property and equipment, income taxes (including the valuation allowance), commitments and contingencies, long-lived asset and goodwill impairment testing, fair value of restricted share awards with market conditions, fair value of financial instruments, and leases. Financial instruments The Consolidated Balance Sheets contain various financial instruments, including, but not limited to, cash and cash equivalents, restricted cash, trade and other receivables, accounts receivable from related parties, certain prepayments and other assets, trade and other payables, payables to related parties, derivative financial instruments, other liabilities, including our pension obligation, and debt. Foreign currency Our reporting currency is the U.S. dollar. We have determined that the U.S. dollar is the functional currency of all of our international operations. Foreign currency denominated monetary asset and liability amounts are remeasured into U.S. dollars at end-of-period exchange rates. Foreign currency denominated non-monetary assets, such as inventories, prepaid expenses, fixed assets and intangible assets, are recorded in U.S. dollars at historical exchange rates. Foreign currency denominated income and expense items are recorded in U.S. dollars at the applicable daily exchange rates in effect during the relevant period. For purposes of calculating our tax liability in certain foreign jurisdictions, we index our depreciable tax bases in certain assets for the effects of inflation based upon statutory inflation factors. The effects of these indexation adjustments are reflected in income tax (provision) benefit in the Consolidated Statements of Operations. The remeasurement gains and losses related to deferred tax assets and liabilities are reported in the income tax (provision) benefit. Foreign exchange gains and losses are presented within other (expense) income in the Consolidated Statements of Operations. We recognized foreign currency losses of $2.5 million, $1.3 million and $0.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. Property and equipment, net Property and equipment are stated at historical cost less accumulated depreciation. The costs of improvements that extend the life of property and equipment, such as structural improvements, equipment and fixtures, are capitalized. In addition, we capitalize soft costs such as interest, insurance, construction administration and other costs that clearly relate to projects under development or construction. Start-up costs, ongoing repairs and maintenance are expensed as incurred. Buildings that are being developed or closed for substantial redevelopment are carried at cost and no depreciation is recorded on these assets until they are put into or back into service. The useful life of buildings under re-development is re-evaluated upon completion of the projects. Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate their cost to their residual values (if any) over their estimated useful lives, as follows: Buildings 5 to 50 years Fixtures and machinery 7 to 18 years Furniture and other fixed assets 4 to 12 years The assets’ estimated useful lives and residual values are reviewed at least annually, with the effect of any changes in estimates accounted for on a prospective basis. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. We did not recognize any impairment losses on property and equipment for the years ended December 31, 2024, 2023 and 2022. Revenue recognition Revenue is recognized on an accrual basis when the rooms are occupied and services have been rendered. We primarily derive our revenue from the following sources: • Package revenue: Revenues derived from all-inclusive packages purchased by our guests, which include room accommodations and premium room upgrades, food and beverage services and entertainment activities, are included in the package revenue line item of the Consolidated Statements of Operations and are considered one performance obligation. Contract liabilities consist of advanced deposits received from customers which are deferred until the rooms are occupied and the services have been rendered. Advance deposits are included in trade and other payables in the Consolidated Balance Sheets. Revenue is measured at the fair value of the consideration received or receivable, stated net of estimated discounts, rebates, certain compulsory tips, and value-added taxes and recognized when our performance obligation of all-inclusive services is considered transferred to the customer. • Non-package revenue: Revenue associated with premium services and amenities that are not included in the all-inclusive package such as dining experiences, wines and spirits and spa packages which are included in the non-package revenue line item of the Consolidated Statements of Operations. Revenue is recognized based on the agreed upon price after the completion of the sale when the product or service is transferred to the customer, net of certain compulsory tips. Food and beverage revenue not included in a guest’s all-inclusive package is recognized when the goods are consumed. • Management fees: Revenue derived from resorts that we manage, typically under long-term contracts with the property owner. Management fees are typically composed of a base fee, which is computed as a percentage of resort revenue, and an incentive fee, which is computed as a percentage of resort profitability. We recognize revenue over the term of the service period as the third-party owners benefit from our management services. Revenue from management contracts is included in the management fees line item of the Consolidated Statements of Operations. • Cost reimbursements: Revenue derived from the reimbursement of certain costs incurred by Playa on behalf of resorts managed by Playa and owned by third parties. These revenues are fully offset by reimbursed costs and have no impact on net income or loss. Cost reimbursements are recognized when agreed upon reimbursable costs are incurred from managing resorts owned by third-parties and included in the cost reimbursements line item of the Consolidated Statements of Operations. • The Playa Collection revenue: Revenue derived from the fees paid to us from the third-party owned loyalty program, The Playa Collection. These fees typically consist of license fees to use the intellectual property to operate the program, marketing fees for the right to market and promote the program, and support fees for the cooperation and support from our personnel. We recognize license fee revenue based on a percentage of membership sales as they occur and marketing and support fee revenue when we have the right to invoice for services performed. Revenue is included in The Playa Collection line item of the Consolidated Statements of Operations. • Other revenues: Other operating revenues not included in the above categories, such as centralized service fees charged to third-party owners of the resorts we manage or contract termination fees. Revenue is recognized as our performance obligation of services is considered transferred to the customer. These revenues are included in the other revenues line item of the Consolidated Statements of Operations. Revenue from operations in the Dominican Republic is net of statutory withholdings for government mandated compulsory tips of $8.6 million, $8.1 million and $8.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. Income taxes We account for income taxes using the asset and liability method, under which we recognize deferred income taxes for the tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, as well as for tax loss carryforwards. For purposes of these Consolidated Financial Statements, our income tax (provision) benefit was calculated on a return basis as though we had filed our tax returns in the applicable jurisdictions in which we operate. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the new rate is enacted. We provide a valuation allowance against deferred tax assets if it is more likely than not that a portion will not be realized. In assessing whether it is more likely than not that deferred tax assets will be realized, we consider all available evidence, both positive and negative, including our recent cumulative earnings experience and expectations of future available taxable income of the appropriate character by taxing jurisdiction, tax attribute carryback and carryforward periods available to us for tax reporting purposes, and prudent and feasible tax planning strategies. We have only recorded financial statement benefits and liabilities for tax positions which we believe are more likely than not to be sustained upon settlement with a taxing authority. We have established income tax accruals in accordance with this guidance where necessary, such that a benefit is recognized only for those positions which satisfy the more likely than not threshold. Judgment is required in assessing the future tax consequences of events that have been recognized in our Consolidated Financial Statements or tax returns, including the application of the more likely than not criteria. We recognize interest and penalties associated with our uncertain tax benefits as a component of the income tax (provision) benefit. Commitments and contingencies We are subject to various legal proceedings, regulatory proceedings and claims, the outcomes of which are subject to uncertainty. We record an estimated loss from a loss contingency, with a corresponding charge to income, if it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. We provide disclosure on contingencies when there is a reasonable possibility that a loss has been incurred (see Note 7). Ordinary shares and paid-in capital Ordinary shares are classified as equity when there is no obligation to transfer cash or other assets to the respective holder. Incremental costs directly attributable to the issuance of ordinary shares are recognized as a reduction of equity, net of any tax effects. Share repurchase program and treasury shares From time to time, our board of directors (the “Board”) may authorize repurchases of our outstanding ordinary shares. Shares repurchased under Board-authorized repurchase programs are currently held in treasury for general corporate purposes. Treasury shares are accounted for on the trade date under the cost method and recorded as treasury shares on the Consolidated Balance Sheets as a reduction to shareholders' equity. Dividends We must comply with the provisions of Dutch law, our Articles of Association and the covenants in our Senior Secured Credit Facility (as defined in Note 12) if we want to pay cash dividends. We currently intend to retain any earnings for future operations and expansion. Any future determination to pay dividends will be at the discretion of our shareholders at our general meeting of shareholders (the “General Meeting”), subject to a proposal from our Board, and will depend on our actual and projected financial condition, liquidity and results of operations, capital requirements, prohibitions and other restrictions contained in current or future financing instruments and applicable law, and such other factors as our Board deems relevant. Debt Debt is carried at amortized cost. Debt issuance costs and discounts incurred on debt are recorded in the Consolidated Balance Sheets as direct deductions to the principal and are amortized over the term of the debt under the effective interest rate method. Capitalized interest directly attributable to the acquisition, construction or production of qualifying assets, which are assets that take a substantial period of time to get ready for their intended use, is recognized as part of the cost of such assets until the time the assets are substantially ready for their intended use. Capitalized interest is subsequently recognized as depreciation expense in the Consolidated Statements of Operations once the assets are placed into service. Derivative financial instruments Derivative financial instruments are initially recorded at fair value on the date on which a derivative contract is entered into and are subsequently remeasured to fair value at period end. Changes in the fair value of a derivative contract that is qualified, designated and highly effective as a cash flow hedge are recorded in total other comprehensive (loss) income in our Consolidated Statements of Comprehensive Income and reclassified into earnings in our Consolidated Statements of Operations in the same period or periods during which the hedged transaction occurs. If a derivative contract does not meet these criteria, then the total change in fair value is recognized in earnings. Cash flows from a derivative financial instrument that is classified as a cash flow hedge are recorded in the same category as the cash flows from the items being hedged in the Consolidated Statements of Cash Flows. Goodwill Goodwill arises in connection with business combinations and is generally allocated to our reporting units, which are also our operating segments, based on their relative fair values. Goodwill is allocated to our Yucatán Peninsula and Jamaica reportable segments and is reviewed for impairment annually on July 1 st and October 1 st , respectively, or more frequently if events or changes in circumstances indicate a potential impairment. No goodwill impairment was recognized for the years ended December 31, 2024, 2023, and 2022. When evaluating goodwill for potential impairment, we are permitted to first assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If we cannot determine qualitatively that the fair value is in excess of the carrying value, or if we decide to bypass the qualitative assessment for any reporting unit in any period, we perform a quantitative analysis. The quantitative test is used to identify both the existence of impairment and the amount of the impairment loss by comparing the estimated fair value of the reporting unit to its carrying value, including goodwill. We generally estimate the fair value of a reporting unit using a combination of the discounted cash flow approach and the market multiple or market transaction approach. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to the excess, limited to the total amount of goodwill allocated to the reporting unit. Other intangible assets The useful life for definite lived intangibles is determined to be equal to their economic life. An impairment loss is recognized for our indefinite or definite lived assets when the amount by which the asset’s carrying amount exceeds its recoverable amount. No impairment was recognized for the years ended December 31, 2024, 2023, and 2022. Cloud computing arrangements We capitalize application development stage costs associated with cloud computing arrangements (CCAs). Capitalized implementation costs are included in prepayments and other assets in our Consolidated Balance Sheets. Amortization is calculated on a straight-line basis over the term of the hosting arrangement and is included in selling, general and administrative expenses in our Consolidated Statements of Operations. Cash and cash equivalents Cash and cash equivalents are comprised of cash balances and highly liquid cash deposits with maturities at the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. We classify these cash instruments as Level 1. Financial instruments that potentially subject us to a concentration of credit risk consist of cash on deposit at financial institutions where the deposits are either uninsured or in excess of insured limits and money market fund balances. Substantially all of our cash is held by financial institutions that we believe are of high-credit quality. Restricted cash Restricted cash consists of cash balances restricted in use by contractual obligations with third-parties. Trade and other receivables, net Trade and other receivables include amounts due from guests, tour operators, travel agents and other vendors for merchandise sold or services performed in the ordinary course of business as well as other miscellaneous receivables. Collection of these amounts is expected in one year or less. When necessary, the carrying amount of our receivables is reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. When a trade receivable is considered uncollectible, it is written off against the allowance for doubtful accounts. Subsequent recoveries of amounts previously written off are credited against the allowance accounts. Changes in the carrying amount of the allowance for doubtful accounts are recognized as bad debt expense within selling, general and administrative expenses in the Consolidated Statements of Operations. Inventories Inventories consist of food, beverages and other items related to consumption and are valued at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method, not to exceed the market value. Advertising costs Advertising costs are expensed as incurred or the first time the advertising takes place. For the years ended December 31, 2024, 2023, and 2022, we recorded advertising costs of $22.4 million, $23.2 million and $23.0 million, respectively. Advertising costs are presented within selling, general and administrative expenses in the Consolidated Statements of Operations. Share-based compensation We have an equity incentive plan that provides for the grant of share options, share appreciation rights, restricted shares, share units, unrestricted shares, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards, and cash bonus awards. We recognized share-based compensation based on the following scenarios: • Awards vesting with the passage of time: Share-based compensation is measured at the fair value of the award on the date of grant and recognized as an expense on a straight-line basis over the vesting period. • Awards vesting with market conditions: The market conditions are incorporated into the fair value measurement and recognized as an expense on a straight-line basis over the vesting period. The compensation expense is not adjusted if the conditions are not met. The determination of fair value on the date of grant is subjective and involves significant estimates and assumptions including expected volatility of our shares, expected dividend yield, expected term and assumptions of whether these awards will achieve performance thresholds. The effects of forfeitures are recognized in compensation expense when they occur. Leases We determine if an arrangement is a lease or contains a lease at the inception of the contract. Our leases generally contain fixed and variable components. The variable components of our leases are primarily based on operating performance of the leased property. Our lease agreements may also include non-lease components, such as common area maintenance. For our fixtures and machinery asset class, we combine the lease and non-lease components. For all other classes of underlying assets, we do not combine lease and non-lease components. We treat individual lease components that are highly interdependent and highly interrelated as a single lease component. Lease liabilities, which represent our obligation to make lease payments arising from the lease, and corresponding right-of-use assets, which represent our right to use an underlying asset for the lease term, are recognized at the commencement date of the lease based on the present value of future payments over the lease term. We calculate the present value of future payments using the discount rate implicit in the lease, if available, or our incremental borrowing rate. For operating leases, lease expense relating to fixed payments is recognized on a straight-line basis over the lease term and lease expense relating to variable payments is expensed as incurred. Operating lease expense is reported in direct expense or selling, general and administrative expense in the Consolidated Statements of Operations depending on the nature of the lease. For finance leases, the amortization of the asset is recognized over the shorter of the lease term or useful life of the underlying asset. However, if the lessor transfers ownership of the finance lease right-of-use asset to us at the end of the lease term, the finance lease right-of-use asset is amortized over the useful life of the leased asset. Amortization expense is recorded within depreciation and amortization in the Consolidated Statements of Operations. Interest expense is incurred based on the carrying value of the lease liability and is recorded within interest expense in the Consolidated Statements of Operations. Assets and liabilities held for sale We classify resorts as held for sale when the sale is probable, will be completed within one year and actions to complete the sale are unlikely to change or it is unlikely that the sale will not occur. This is consistent with our experience with real estate transactions under which the timing and final terms of a sale are frequently not known until all the following conditions are met: • our Board has approved the sale (to the extent that the dollar amount of the sale requires Board approval); • a binding agreement to sell the resort has been signed under which the buyer has committed a significant deposit or amount of nonrefundable cash; and • no significant financing contingencies exist that could prevent the transaction from being completed in a timely manner. If these criteria are met, we will cease recording depreciation expense, record an impairment loss to the extent the carrying amount of the resort exceeds the fair value and classify the assets and related liabilities as held for sale on the Consolidated Balance Sheets. Assets and related liabilities classified as held for sale are measured at the lower of their carrying value or fair value less costs to sell. Gains or losses on sales are recognized at the time of sale. Accounting standards The following table provides a brief description of recent accounting pronouncements (Accounting Standards Update or “ASU”) issued by the Financial Accounting Standards Board (“FASB”) that are applicable to us: Standards adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. December 2024 The adoption of ASU No. 2023-07 resulted in enhanced segment disclosures, including significant segment expense categories, in the notes to our Consolidated Financial Statements for the year ended December 31, 2024. Standards not yet adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments in this update require that public business entities on an annual basis (i) disclose specific categories in the rate reconciliation and (ii) provide additional information for reconciling items that meet a quantitative threshold. Annual periods beginning after December 15, 2024 We are in the process of evaluating the impact of ASU No. 2023-09 on the Consolidated Financial Statements. ASU. No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses The amendments in this update require that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. Annual periods beginning after December 15, 2026 We are in the process of evaluating the impact of ASU No. 2024-03 on the Consolidated Financial Statements.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following tables present our revenues disaggregated by geographic segment (refer to discussion of our reportable segments in Note 17) ( $ in thousands) : Year Ended December 31, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 288,910 $ 111,349 $ 224,851 $ 171,377 $ — $ 796,487 Non-package revenue 39,363 18,184 33,396 27,697 — 118,640 The Playa Collection — — — — 5,949 5,949 Management fees 158 — — — 5,990 6,148 Cost reimbursements — — — 3,910 5,963 9,873 Other revenues — — — — 1,472 1,472 Total revenue $ 328,431 $ 129,533 $ 258,247 $ 202,984 $ 19,374 $ 938,569 Year Ended December 31, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 280,544 $ 127,830 $ 218,309 $ 197,439 $ — $ 824,122 Non-package revenue 35,490 17,675 35,843 32,414 — 121,422 The Playa Collection — — — — 3,642 3,642 Management fees 152 — — — 6,878 7,030 Cost reimbursements — — — 4,947 7,528 12,475 Other revenues — — — — 8,813 8,813 Total revenue $ 316,186 $ 145,505 $ 254,152 $ 234,800 $ 26,861 $ 977,504 Year Ended December 31, 2022 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 251,788 $ 116,172 $ 197,440 $ 157,975 $ — $ 723,375 Non-package revenue 36,244 15,493 33,689 31,176 — 116,602 The Playa Collection — — — — 1,752 1,752 Management fees 137 — — — 3,691 3,828 Cost reimbursements — — — 4,487 5,219 9,706 Other revenues — — — — 1,000 1,000 Total revenue $ 288,169 $ 131,665 $ 231,129 $ 193,638 $ 11,662 $ 856,263 Performance obligations We recognize revenues when the performance obligations are satisfied by transferring control of the product or service to our customers as described in Note 2. We do not disclose the value of unsatisfied performance obligations for contracts with consideration determined by our performance completed to date or with an expected length of one year or less. Due to the nature of our business, our revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at our resorts are refunded to resort guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to service are generally recognized as an adjustment to the transaction price at the time the resort stay occurs or services are rendered. Contract assets and liabilities We do not have any material contract assets as of December 31, 2024 and 2023 other than trade and other receivables on our Consolidated Balance Sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. We record contract liabilities when cash payments are received or due in advance of guests staying at our resorts, which are presented as advance deposits (see Note 16) within trade and other payables on our Consolidated Balance Sheets. Our advanced deposits are generally recognized as revenue within one year. Contract costs We consider sales commissions earned to be incremental costs of obtaining a contract with our customers. As a practical expedient, we expense these costs as incurred when the period to be benefited is less than one year. We also consider key money payments to be incremental costs of obtaining management contracts. These costs are capitalized within prepayments and other assets and amortized on a straight-line basis over the term of the management agreement (see Note 16). Termination of management agreements We terminated our management agreements for the Hyatt Ziva Riviera Cancún and Hyatt Zilara Riviera Maya effective December 15, 2023 and received $6.5 million of termination fees from the owner of the resorts, which are recorded within other revenues in the Consolidated Statements of Operations for the year ended December 31, 2023.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and equipment	Property and equipment The balance of property and equipment, net is as follows ($ in thousands ): As of December 31, 2024 2023 Property and equipment, gross Land, buildings and improvements $ 1,560,093 $ 1,646,452 Fixtures and machinery (1) 97,837 86,717 Furniture and other fixed assets 197,928 203,639 Construction in progress 77,100 22,077 Total property and equipment, gross 1,932,958 1,958,885 Accumulated depreciation (558,628) (543,313) Total property and equipment, net $ 1,374,330 $ 1,415,572 ________ (1) Includes the gross balance of our finance lease right-of-use assets, which was $18.2 million and $6.3 million as of December 31, 2024 and 2023, respectively (see Note 8). Amortization expense for our finance lease assets was $1.7 million, $0.5 million and $0.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Depreciation expense for property and equipment was $76.0 million, $79.7 million and $76.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we capitalized $1.8 million and $0.3 million, respectively, of interest expense on qualifying assets using the weighted-average interest rate of our debt. We did not capitalize any interest expense for the year ended December 31, 2022. Hurricane Fiona As a result of Hurricane Fiona, a Category 1 hurricane that made landfall on the eastern coast of the Dominican Republic in September 2022, we received $3.4 million in business interruption proceeds during the year ended December 31, 2024. We received $13.2 million and $18.0 million in business interruption and property damage insurance proceeds, respectively, during the year ended December 31, 2023. We received $6.4 million in property damage insurance proceeds during the year ended December 31, 2022. Sale of Jewel Paradise Cove On December 18, 2024, we entered into an agreement to sell the Jewel Paradise Cove, which is reported within our Jamaica reportable segment, for $28.5 million in cash consideration. The assets are recorded at their fair value less costs to sell within assets held for sale in the Consolidated Balance Sheet. The sale price is considered an observable input other than quoted prices (Level 2) in the U.S. GAAP fair value hierarchy (see Note 15). On February 20, 2025, we completed the sale and received total gross consideration of approximately $28.5 million. Sale of Jewel Palm Beach On August 22, 2024, we entered into an agreement to sell our equity interest in the Jewel Palm Beach, which is reported within our Dominican Republic reportable segment, for $68.0 million in cash consideration. On September 19, 2024, we completed the sale, received total net cash consideration of $65.3 million, after customary closing costs, and recognized a gain of $18.1 million within (gain) loss on sale of assets in the Consolidated Statements of Operations for the year ended December 31, 2024. Sale of Jewel Punta Cana On November 3, 2023, we entered into an agreement to sell our equity interest in the Jewel Punta Cana, which is reported within our Dominican Republic reportable segment, for $82.0 million in cash consideration. On December 15, 2023, we completed the sale, received total net cash consideration of $79.1 million, after customary closing costs, and recognized a loss of $5.0 million within (gain) loss on sale of assets in the Consolidated Statements of Operations for the year ended December 31, 2023. We also incurred a capital gains tax of $12.0 million on the sale, which was paid to the taxing authority in the Dominican Republic in 2024. The capital gains tax is recorded within income tax (provision) benefit in the Consolidated Statements of Operations for the year ended December 31, 2023. We entered into a long-term management agreement to manage the resort immediately following the sale.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Net income before tax is summarized below ($ in thousands) : Year Ended December 31, 2024 2023 2022 Domestic $ 3,772 $ 11,471 $ 1,896 Foreign 77,994 54,095 49,257 Net income before tax $ 81,766 $ 65,566 $ 51,153 The components of our income tax (provision) benefit for the years ended December 31, 2024, 2023 and 2022 were as follows ($ in thousands) : Year Ended December 31, 2024 2023 2022 Current Domestic $ (208) $ (440) $ — Foreign (16,151) (14,305) (1,243) Total current income tax provision (16,359) (14,745) (1,243) Deferred Domestic (790) (2,471) 5,333 Foreign 9,196 5,502 1,463 Total deferred income tax benefit 8,406 3,031 6,796 Income tax (provision) benefit $ (7,953) $ (11,714) $ 5,553 Reconciliation of the Netherlands statutory income tax rate to actual income tax rate A reconciliation of the Netherlands statutory income tax rate to our effective income tax rate from continuing operations is as follows ($ in thousands) : Year Ended December 31, 2024 2023 2022 Income tax provision at statutory rate (21,096) 25.8 % $ (16,917) 25.8 % $ (13,197) 25.8 % Differences between statutory rate and foreign rates 27,191 (33.3) % 51,940 (79.2) % 31,490 (61.6) % Inflation adjustments 4,175 (5.1) % 2,661 (4.1) % 10,106 (19.8) % Nondeductible expenses (3,731) 4.6 % (11,742) 17.9 % (5,202) 10.2 % Foreign exchange rate differences 393 (0.5) % (5,049) 7.7 % (3,570) 7.0 % Capital gains 4,674 (5.7) % (12,044) 18.4 % — — % Global Minimum Tax (14,010) 17.1 % — — % — — % Change in valuation allowance (6,901) 8.4 % (21,367) 32.6 % (13,941) 27.3 % Other 1,352 (1.6) % 804 (1.2) % (133) 0.3 % Income tax (provision) benefit $ (7,953) 9.7 % $ (11,714) 17.9 % $ 5,553 (10.8) % We are domiciled in the Netherlands and are taxed in the Netherlands with our other Dutch subsidiaries. Dutch companies are subject to Dutch corporate income tax at a general tax rate of 25.8%. For the year ended December 31, 2024, we recognized an income tax expense of $8.0 million, resulting in an effective tax rate for the year of 9.7%. The 2024 income tax expense was driven primarily by $21.1 million of tax expense on the tax impact of book income, $14.0 million of tax expense under the Dutch Minimum Tax Act 2024, $6.9 million increase in valuation allowance primarily due to current year losses that are not more likely than not realizable, and $3.7 million of tax expense on non-deductible expenses. The 2024 income tax expense was partially offset by $27.2 million tax benefit from our rate-favorable jurisdictions, $4.7 million tax benefit related to capital gain on the equity sale of Jewel Palm Beach exempt for Netherlands tax purposes, and $4.2 million tax benefit due to inflation adjustments. For the year ended December 31, 2023, we recognized an income tax expense of $11.7 million, resulting in an effective tax rate for the year of 17.9%. The 2023 income tax expense was driven primarily by $16.9 million of expense on the tax impact of book income, $11.7 million of tax expense on non-deductible stock compensation and other expenses, $5.0 million of tax expense due to foreign exchange rate fluctuations, $12.0 million of tax expense related to a capital gains tax recorded on the equity sale of Jewel Punta Cana in December 2023, and a $21.4 million increase in our valuation allowance primarily due to current year losses that are not more likely than not realizable. The 2023 income tax expense was partially offset by a $51.9 million tax benefit from our rate-favorable jurisdictions, and a $2.7 million benefit due to inflation adjustments. For the year ended December 31, 2022, we recognized an income tax benefit of $5.6 million, resulting in an effective tax rate for the year of (10.8)%. The 2022 income tax benefit was driven primarily by a $10.1 million tax benefit associated with inflation adjustments related to our Dominican Republic and Mexican operations and a $31.5 million tax benefit from our rate-favorable jurisdictions. The 2022 income tax benefit was partially offset by $13.2 million expense on the tax impact of book income, $5.2 million of tax expense on non-deductible stock compensation and other expenses, $3.6 million tax expense due to changes in foreign exchange rates, and a $13.9 million increase in our valuation allowance primarily due to current year losses that are not more likely than not realizable. We have a taxable presence in a variety of jurisdictions worldwide, most significantly in Mexico, the Netherlands, the U.S., the Dominican Republic and Jamaica. We have been granted certain “tax holidays,” providing us with temporary income tax exemptions. Specifically, two of our entities in the Dominican Republic are under a tax holiday. Playa Romana Mar B.V. and Playa Dominican Resorts B.V. began a 15 year tax exemption period in 2019. Effects of Tax Legislative Changes Our tax provision for the year ended December 31, 2024 was materially impacted by the Dutch Minimum Tax Act 2024, which was approved by the Dutch Senate on December 19, 2023. The Dutch Minimum Tax Act 2024 implements measures to ensure that large multinational groups of companies pay a minimum corporate income tax rate of 15% in accordance with the European Union's Pillar 2 Directive. As we are incorporated in the Netherlands, we are subject to certain provisions of the Dutch Minimum Tax Act 2024 beginning January 1, 2024. We recognized $14.0 million current Pillar 2 tax expense for the year ended December 31, 2024. Our tax provisions for the years ended December 31, 2023 and 2022 were not significantly impacted by income tax legislative changes enacted in any jurisdictions. On December 21, 2021, the Dutch Senate approved the 2022 tax package. Effective January 1, 2022, the corporate income tax rate for 2022 and future tax years increased to 25.8% for amounts in excess of €0.4 million. The adjusted rate increased the carrying value of our deferred tax assets that are offset by a full valuation allowance. Our Netherlands deferred tax assets increased $2.7 million and valuation allowance increased $2.7 million and resulted in no net financial statement impact. Dominican Republic Our Dominican Republic taxes are determined based upon Advanced Pricing Agreements (“APA”) approved by the Ministry of Finance of the Dominican Republic. The Company’s most recent APAs were approved in May 2024 and are effective from January 1, 2022 through December 31, 2025. Our annual effective tax rate calculation reflects the terms of the APAs that were applied for the year ending December 31, 2024. During 2024, our Dominican Republic entities were subject to income tax and asset tax. For the year ended December 31, 2024, we recorded current tax expense of $0.5 million and no deferred tax expense or benefit. During 2023, our Dominican Republic entities were subject to income tax and asset tax. For the year ended December 31, 2023, we recorded current tax expense of $1.0 million and a deferred tax benefit of $2.6 million. During 2022, our Dominican Republic entities were subject to income tax and asset tax. For the year ended December 31, 2022, we recorded a current tax expense of $0.3 million and a deferred tax benefit of $0.5 million. Deferred income taxes Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as net operating losses and tax credit carry-forwards. We measure those balances using the enacted tax rates we expect will be in effect when we pay or recover taxes. Deferred income tax assets represent amounts available to reduce income taxes we will pay on taxable income in future years. We evaluate our ability to realize these future tax deductions and credits by assessing whether we expect to have sufficient future taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies to utilize these future deductions and credits. We establish a valuation allowance when we no longer consider it more likely than not that a deferred tax asset will be realized. The tax effect of each type of temporary difference and carry-forward that gives rise to a significant portion of our deferred tax assets and liabilities as of December 31, 2024 and 2023 were as follows ($ in thousands) : As of December 31, 2024 2023 Deferred tax assets Advance customer deposits $ 2,273 $ 3,687 Trade payables and other accruals 9,479 5,711 Labor liability accrual 1,764 1,562 Lease obligation 820 999 Interest expense 106,406 97,034 Other assets — 2,667 Net operating losses 137,424 149,190 Total deferred tax asset 258,166 260,850 Valuation allowance (223,694) (222,650) Net deferred tax asset 34,472 38,200 Deferred tax liabilities Accounts receivable and prepayments to vendors 861 771 Property and equipment 71,933 87,524 Other liabilities 5,119 1,753 Total deferred tax liability 77,913 90,048 Net deferred tax liability $ (43,441) $ (51,848) As of December 31, 2024, we had approximately $508.5 million of foreign net operating loss carryforwards and $9.8 million of U.S. federal and state net operating loss carryforwards. The ability to utilize the tax net operating losses in any single year ultimately depends upon our ability to generate sufficient taxable income. The foreign net operating loss carryforwards begin to expire in 2026, and the U.S. federal net operating loss carryforwards begin to expire in 2035. An annual limitation may apply to the use of the U.S. net operating loss carryforwards under the provisions of the Internal Revenue Code and similar state tax provisions that are applicable if the Company experiences an “ownership change.” We performed an analysis of the potential limitations on the utilization of net operating losses and determined that they are subject to limitations that would preclude the use of a portion of the net operating losses. We have made no provision for foreign or domestic income taxes on the cumulative unremitted earnings of our subsidiaries. We intend to indefinitely reinvest all foreign earnings and have no intention to repatriate foreign earnings for the foreseeable future, except for repatriation of earnings that can be distributed without incurring significant tax expense. The change in the valuation allowance established against our deferred tax assets for the years ended December 31, 2024, 2023 and 2022 is summarized in the following table ($ in thousands) : Balance at January 1 Additions Deductions Balance at December 31, 2024 $ (222,650) $ (8,774) $ 7,730 $ (223,694) December 31, 2023 $ (177,817) $ (57,179) $ 12,346 $ (222,650) December 31, 2022 $ (160,104) $ (29,728) $ 12,015 $ (177,817) The valuation allowance for each period is used to reduce the deferred tax asset to a more likely than not realizable value. As of December 31, 2024, our valuation allowance relates primarily to net operating loss carryforwards which we do not expect to utilize, most notably in the Netherlands and certain legal entities in Mexico and Jamaica. As of December 31, 2024, a valuation allowance has been maintained as a reserve on material net deferred tax assets, including loss carry forwards, where the future realization of these deferred tax assets is uncertain. If our operating results continue to improve and our projections show continued utilization of tax attributes, we may consider that as significant positive evidence and our future reassessment may result in the determination that all or a portion of the valuation allowance is no longer required. The exact timing and amount of the valuation allowance releases are ultimately contingent upon the level of profitability achieved in future periods. We are subject to income taxes in a variety of global jurisdictions. We remain subject to U.S. federal and state examinations of our income tax returns for tax years 2017 to the present. We are also subject to income tax examinations in various foreign jurisdictions for tax years 2011 to the present. We consider the potential outcome of current and future examinations in our assessment of our uncertain tax positions. We had no uncertain tax positions as of December 31, 2024, 2023 and 2022.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Relationship with Hyatt and AMResorts Hyatt Hotels Corporation (“Hyatt”) is considered a related party due to its ownership of our ordinary shares by its affiliated entities. We pay Hyatt fees associated with the franchise agreements of our resorts operating under the all-ages Hyatt Ziva and adults-only Hyatt Zilara brands and receive reimbursements for guests who pay for their stay using the World of Hyatt ® guest loyalty program. Hyatt also owns Apple Leisure Group (“ALG”), the brand management platform AMResorts, and various tour operators and travel agencies. We paid AMResorts and its affiliates, as operators of the Jewel Punta Cana and Jewel Palm Beach through December 20, 2022 and January 6, 2023, respectively, management and marketing fees, and sold all-inclusive packages through ALG’s tour operators and travel agencies. Relationship with Sagicor Sagicor Financial Corporation Limited and its affiliated entities (collectively “Sagicor”) is considered a related party due to its ownership of our ordinary shares and representation on our Board. We pay Sagicor for employee insurance coverage at one of our Jamaica properties. Sagicor is also a part owner of the Jewel Grande Montego Bay Resort & Spa and compensates us as manager of the property. Relationship with Davidson Kempner Capital Management L.P. Davidson Kempner Capital Management L.P. (“DKCM”) is the investment manager of multiple affiliated funds and is considered a related party due to the DKCM funds’ ownership of our ordinary shares. The affiliated funds managed by DKCM were also the lenders to our Property Loan and Additional Credit Facility, which consisted of our Term A1, Term A2 and Term A3 loans. We paid DKCM periodic interest payments related to the outstanding debt through December 16, 2022, when we repaid the principal balances of the Property Loan and Additional Credit Facility in connection with our debt refinancing. Lease with our Chief Executive Officer One of our offices is owned by our Chief Executive Officer and we sublease the space at that location from a third party. Transactions with related parties Transactions between us and related parties during the years ended December 31, 2024, 2023 and 2022 were as follows ( $ in thousands ): Year Ended December 31, Related Party Transaction 2024 2023 2022 Revenues ALG Package revenue $ — $ — $ 18,074 Sagicor Cost reimbursements (1) $ 3,910 $ 5,087 $ 5,113 Expenses Hyatt Franchise fees (2) $ 36,032 $ 35,562 $ 29,774 Sagicor Insurance premiums (2) $ 1,641 $ 1,489 $ 1,131 Chief Executive Officer Lease expense (3) $ 640 $ 687 $ 786 DKCM Interest expense (4) $ — $ — $ 27,425 DKCM Early termination and other fees (5) $ — $ — $ 5,226 AMResorts Management fees (2) $ — $ 41 $ 3,279 AMResorts Marketing fees (3) $ — $ 37 $ 3,702 ________ (1) Equivalent amount included as reimbursed costs in the Consolidated Statements of Operations. (2) Included in direct expense in the Consolidated Statements of Operations with the exception of certain immaterial fees associated with the Hyatt franchise agreements, which are included in selling, general, and administrative expense. (3) Included in selling, general, and administrative expense in the Consolidated Statements of Operations. (4) Includes interest expense and amortization of deferred financing costs and discounts incurred through the date the Property Loan and Additional Credit Facility were repaid, as well as $6.3 million of unamortized deferred financing costs and discounts which were written off and included in loss on extinguishment of debt in the Consolidated Statements of Operations for the year ended December 31, 2022. (5) Included in loss on extinguishment of debt in the Consolidated Statements of Operations.

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Litigation, claims and assessments We are involved in various claims, assessments, and lawsuits arising in the normal course of business, including proceedings involving tort and other general liability claims, and workers’ compensation and other employee claims as well as income tax and non-income tax examinations. Most occurrences involving liability and claims of negligence are covered by insurance with solvent insurance carriers. We recognize a liability when we believe the loss is probable and reasonably estimable. We currently believe that the ultimate outcome of such lawsuits, assessments and proceedings will not, individually or in the aggregate, have a material effect on our Consolidated Financial Statements. The Dutch Corporate Income Tax Act provides the option of a fiscal unity, which is a consolidated tax regime wherein the profits and losses of group companies can be offset against each other. With the exception of Playa Hotels & Resorts N.V., our Dutch companies file as a fiscal unity. Playa Resorts Holding B.V. is the head of our Dutch fiscal unity and all members of the fiscal unity are jointly and severally liable for the tax liabilities of the fiscal unity as a whole. During the second quarter of 2024, we entered into an arrangement for the future minimum purchase of liquified natural gas to fuel the equipment we leased to produce electricity and hot water at the Hilton Rose Hall Resort & Spa (see Note 12). Future payments under this noncancellable unconditional purchase will be made through the second quarter of 2036 and the remaining obligation was $7.2 million as of December 31, 2024. We estimate the fixed and determinable portion of this unconditional purchase obligation to be $0.6 million in each of the five succeeding fiscal years. The actual obligation may vary based on the Henry Hub rate, which is a variable component that is not included in our estimate. We purchased $1.2 million of liquified natural gas as part of this arrangement during the year ended December 31, 2024.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases We enter into operating leases primarily for administrative offices. Our administrative offices, located in Virginia, Florida and Cancún, are leased under lease agreements that extend for varying periods through 2033. The extension options are reasonably certain to be exercised and included in the amounts recorded. We also have finance lease arrangements with third-parties for the construction, management and maintenance of thermal energy plants and other equipment to produce electricity and chilled and hot water in the Dominican Republic and Jamaica. Our future minimum lease payments as of December 31, 2024 were as follows ($ in thousands) : Operating Leases Finance Leases Minimum future lease payments 2025 $ 1,193 $ 2,201 2026 1,204 2,348 2027 1,214 2,382 2028 1,032 2,417 2029 947 2,452 Thereafter 1,964 15,757 Total minimum future lease payments 7,554 27,557 Less: imputed interest (1,350) (10,328) Total lease liability (1) $ 6,204 $ 17,229 ________ (1) Operating and finance lease liabilities are included in other liabilities debt The following table presents the components of lease expense and supplemental cash flow information ($ in thousands) : Year Ended December 31, 2024 2023 2022 Lease expense (1) $ 3,002 $ 3,394 $ 2,319 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 786 $ 661 $ 825 Operating cash outflows for finance leases $ 650 $ 413 $ 443 Financing cash outflows for finance leases $ 596 $ 436 $ 400 ________ (1) Includes variable and short-term lease expenses. The following table presents other relevant information related to our leases as of December 31, 2024: Operating Leases Finance Leases Weighted-average remaining lease term 6.79 years 12.90 years Weighted-average discount rate 5.98 % 8.29 % We rent certain real estate to third parties for office and retail space within our resorts. Our lessor contracts are considered operating leases and generally have a contractual term of one ($ in thousands) : Year Ended December 31, Leases Financial Statement Classification 2024 2023 2022 Operating lease income (1) Non-package revenue $ 3,955 $ 4,040 $ 4,197 ________ (1) Includes variable lease revenue, which is typically calculated as a percentage of our tenant's net sales.
Leases	Leases We enter into operating leases primarily for administrative offices. Our administrative offices, located in Virginia, Florida and Cancún, are leased under lease agreements that extend for varying periods through 2033. The extension options are reasonably certain to be exercised and included in the amounts recorded. We also have finance lease arrangements with third-parties for the construction, management and maintenance of thermal energy plants and other equipment to produce electricity and chilled and hot water in the Dominican Republic and Jamaica. Our future minimum lease payments as of December 31, 2024 were as follows ($ in thousands) : Operating Leases Finance Leases Minimum future lease payments 2025 $ 1,193 $ 2,201 2026 1,204 2,348 2027 1,214 2,382 2028 1,032 2,417 2029 947 2,452 Thereafter 1,964 15,757 Total minimum future lease payments 7,554 27,557 Less: imputed interest (1,350) (10,328) Total lease liability (1) $ 6,204 $ 17,229 ________ (1) Operating and finance lease liabilities are included in other liabilities debt The following table presents the components of lease expense and supplemental cash flow information ($ in thousands) : Year Ended December 31, 2024 2023 2022 Lease expense (1) $ 3,002 $ 3,394 $ 2,319 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 786 $ 661 $ 825 Operating cash outflows for finance leases $ 650 $ 413 $ 443 Financing cash outflows for finance leases $ 596 $ 436 $ 400 ________ (1) Includes variable and short-term lease expenses. The following table presents other relevant information related to our leases as of December 31, 2024: Operating Leases Finance Leases Weighted-average remaining lease term 6.79 years 12.90 years Weighted-average discount rate 5.98 % 8.29 % We rent certain real estate to third parties for office and retail space within our resorts. Our lessor contracts are considered operating leases and generally have a contractual term of one ($ in thousands) : Year Ended December 31, Leases Financial Statement Classification 2024 2023 2022 Operating lease income (1) Non-package revenue $ 3,955 $ 4,040 $ 4,197 ________ (1) Includes variable lease revenue, which is typically calculated as a percentage of our tenant's net sales.
Leases	Leases We enter into operating leases primarily for administrative offices. Our administrative offices, located in Virginia, Florida and Cancún, are leased under lease agreements that extend for varying periods through 2033. The extension options are reasonably certain to be exercised and included in the amounts recorded. We also have finance lease arrangements with third-parties for the construction, management and maintenance of thermal energy plants and other equipment to produce electricity and chilled and hot water in the Dominican Republic and Jamaica. Our future minimum lease payments as of December 31, 2024 were as follows ($ in thousands) : Operating Leases Finance Leases Minimum future lease payments 2025 $ 1,193 $ 2,201 2026 1,204 2,348 2027 1,214 2,382 2028 1,032 2,417 2029 947 2,452 Thereafter 1,964 15,757 Total minimum future lease payments 7,554 27,557 Less: imputed interest (1,350) (10,328) Total lease liability (1) $ 6,204 $ 17,229 ________ (1) Operating and finance lease liabilities are included in other liabilities debt The following table presents the components of lease expense and supplemental cash flow information ($ in thousands) : Year Ended December 31, 2024 2023 2022 Lease expense (1) $ 3,002 $ 3,394 $ 2,319 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 786 $ 661 $ 825 Operating cash outflows for finance leases $ 650 $ 413 $ 443 Financing cash outflows for finance leases $ 596 $ 436 $ 400 ________ (1) Includes variable and short-term lease expenses. The following table presents other relevant information related to our leases as of December 31, 2024: Operating Leases Finance Leases Weighted-average remaining lease term 6.79 years 12.90 years Weighted-average discount rate 5.98 % 8.29 % We rent certain real estate to third parties for office and retail space within our resorts. Our lessor contracts are considered operating leases and generally have a contractual term of one ($ in thousands) : Year Ended December 31, Leases Financial Statement Classification 2024 2023 2022 Operating lease income (1) Non-package revenue $ 3,955 $ 4,040 $ 4,197 ________ (1) Includes variable lease revenue, which is typically calculated as a percentage of our tenant's net sales.

Ordinary shares

Ordinary shares	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Ordinary shares	Ordinary shares Our Board previously authorized a $200.0 million share repurchase program, pursuant to which we may repurchase our outstanding ordinary shares as market conditions and our liquidity warrant. The repurchase program is subject to certain limitations under Dutch law, including the existing repurchase authorization granted by our shareholders. Repurchases may be made from time to time in the open market, in privately negotiated transactions or by other means (including Rule 10b5-1 trading plans). Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice. During the years ended December 31, 2024, 2023, and 2022, we repurchased 17,106,552, 23,295,093 and 7,838,992 ordinary shares, respectively, under the program at an average price of $8.44, $7.95, and $5.90 per share, respectively, excluding taxes. As of December 31, 2024, we had $52.1 million remaining under our share repurchase program. As of December 31, 2024, our ordinary share capital consisted of 121,554,617 ordinary shares outstanding, which have a par value of €0.10 per share. In addition, 5,049,986 restricted shares and 36,272 restricted share units were outstanding under the 2017 Plan (as defined in Note 10). The holders of restricted shares are entitled to vote, but not dispose of, such shares until they vest. The holders of restricted share units are neither entitled to vote nor dispose of such shares until they vest.

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation We adopted our 2017 Omnibus Incentive Plan (the “2017 Plan”) to attract and retain independent directors, executive officers and other key employees. The Compensation Committee of our Board may award share options, share appreciation rights, restricted shares, share units, unrestricted shares, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards and cash bonus awards under the 2017 Plan. As of December 31, 2024, there were 10,080,318 shares available for future grants under the 2017 Plan. Compensation expense related to the 2017 Plan is recorded within selling, general and administrative expense in the Consolidated Statements of Operations. Restricted share awards Restricted share awards consist of restricted shares and restricted share units that are granted to eligible employees, executives, and board members and consist of ordinary shares (or the right to receive ordinary shares) subject to restrictions and a risk of forfeiture. Restricted share awards issued to employees and executives generally vest over a period of three years, where one-third of the award vests on each of the first three anniversaries of the grant date of the award. Restricted share awards issued to our directors for their services as directors vest one year from the grant date of the award. The vesting of restricted share awards is subject to the holder’s continued employment through the applicable vesting date. Unvested restricted share awards will be forfeited if the employee’s, executive’s, or director’s employment terminates during the vesting period, provided that unvested restricted share awards will accelerate upon certain terminations of employment as set forth in the applicable award agreements. The holders of restricted shares have the right to vote the restricted shares and receive all dividends declared and paid on such shares, provided that dividends paid on unvested restricted shares will be subject to the same conditions and restrictions applicable to the underlying restricted shares. The holders of restricted share units have no right to vote the underlying shares and may be entitled to be credited with dividend equivalents in respect of each cash dividend declared and paid by us, in an amount per share unit equal to the per-share dividend paid on our ordinary shares, which dividend equivalents will be deemed to have been reinvested in additional restricted share units that are subject to the same terms and conditions applicable to the underlying restricted share units to which they relate. Compensation expense for restricted share awards is measured based upon the fair market value of our ordinary shares at the date of grant and recognized on a straight-line basis over the vesting period. A summary of our restricted share awards from January 1, 2024 to December 31, 2024 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Unvested balance at January 1, 2024 2,733,532 $ 6.84 Granted 1,456,506 8.03 Vested (1,417,634) 6.61 Forfeited (45,077) 7.49 Unvested balance at December 31, 2024 2,727,327 $ 7.58 The following table provides additional information on our restricted share awards for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share data) : Year Ended December 31, 2024 2023 2022 Weighted-average grant date fair value $ 8.03 $ 6.77 $ 8.20 Fair value of vested restricted share awards $ 11,681 $ 7,260 $ 13,086 Share-based compensation expense $ 9,974 $ 9,130 $ 8,665 As of December 31, 2024, the unrecognized compensation cost related to restricted share awards was $11.0 million and is expected to be recognized over a weighted-average period of 1.8 years. Performance share awards Performance share awards consist of ordinary shares that may become earned and vested based on the achievement of performance targets adopted by our Compensation Committee. The actual number of ordinary shares that ultimately vest will range from 0% to 200% of the target award and will be determined at the end of the three-year performance period based on performance criteria as defined in the applicable award agreements for the period of performance. Any ordinary shares that ultimately vest based on the achievement of the applicable performance criteria will be deemed to be vested on the date on which our Compensation Committee certifies the level of achievement of such performance criteria. Except in connection with certain qualifying terminations of employment as set forth in the applicable award agreements, the awards require continued service through the certification date. The holders of these awards have voting rights equivalent to the target level of ordinary shares granted to the holder and any dividends declared on such shares will be accumulated and paid within 30 days after and to the extent the target ordinary shares vest. The grant date fair value of our awards with market conditions was estimated using a Monte-Carlo model. The table below summarizes the key inputs used in the Monte-Carlo simulation ($ in thousands) : Performance Award Grant Date Percentage of Total Award Grant Date Fair Value by Component Volatility (1) Interest Rate (2) Dividend Yield January 4, 2022 Peer Shareholder Return 50 % $ 1,689 67.79 % 1.01 % — % Growth Rate 50 % $ 1,346 67.79 % 1.01 % — % January 18, 2023 Peer Shareholder Return 50 % $ 2,751 71.82 % 3.70 % — % Growth Rate 50 % $ 2,194 71.82 % 3.70 % — % January 17, 2024 Peer Shareholder Return 50 % $ 2,915 39.05 % 4.09 % — % Growth Rate 50 % $ 2,066 39.05 % 4.09 % — % February 8, 2024 Growth Rate 100 % $ 4,369 38.21 % 4.20 % — % ________ (1) Expected volatility was determined based on Playa's historical share prices. (2) The risk-free rate was based on U.S. Treasury zero coupon issues with a remaining term equal to the remaining term of the measurement period. In the table above, the peer shareholder return and growth rate components are market conditions as defined by ASC 718, Compensation—Stock Compensation , and compensation expense related to these components is recognized on a straight-line basis over the vesting period. The peer shareholder return component may vest between 0% and 200% of target based on the total shareholder return (“TSR”) of our ordinary shares relative to those of our peer group, with the award capped at 100% of target should Playa’s TSR be negative. The growth rate component may vest up to 100% of target based on the compound annual growth rate of the trading price of our ordinary shares. A summary of our performance share awards from January 1, 2024 to December 31, 2024 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Unvested balance at January 1, 2024 2,048,350 $ 6.34 Granted 1,509,519 7.39 Vested (1,174,808) 5.38 Forfeited (24,130) 6.01 Unvested balance at December 31, 2024 2,358,931 $ 7.35 The following table provides additional information on our performance share awards for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share data) : Year Ended December 31, 2024 2023 2022 Weighted-average grant date fair value $ 7.39 $ 6.88 $ 8.10 Fair value of vested performance share awards $ 9,528 $ — $ 130 Share-based compensation expense $ 4,935 $ 4,077 $ 3,227

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic and diluted earnings or loss per share (“EPS”) were as follows ( $ in thousands, except share data ): Year Ended December 31, 2024 2023 2022 Numerator Net income $ 73,813 $ 53,852 $ 56,706 Denominator Denominator for basic EPS - weighted-average number of shares outstanding 129,737,022 148,063,358 164,782,886 Effect of dilutive securities Unvested performance share awards 866,009 1,268,736 546,790 Unvested restricted share awards 918,495 977,580 748,126 Denominator for diluted EPS - adjusted weighted-average number of shares outstanding 131,521,526 150,309,674 166,077,802 EPS - Basic $ 0.57 $ 0.36 $ 0.34 EPS - Diluted $ 0.56 $ 0.36 $ 0.34 For the years ended December 31, 2024 and 2023, we had no anti-dilutive unvested performance share awards. For the year ended December 31, 2022, unvested performance share awards of 187,500 were not included in the computation of diluted EPS after assumed conversions as their effect would have been anti-dilutive. The performance targets of our unvested performance share awards granted in 2024 and 2023 were partially achieved as of December 31, 2024 and the performance targets of our unvested performance share awards granted in 2022 were fully achieved as of December 31, 2024. For the years ended December 31, 2024, 2023, and 2022, we had no anti-dilutive unvested restricted share awards.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Our debt consists of the following as of December 31, 2024 and 2023 ($ in thousands) : Outstanding Balance as of Interest Rate Maturity Date December 31, 2024 December 31, 2023 Senior Secured Credit Facilities Revolving Credit Facility (1) SOFR + 3.50% January 5, 2028 $ — $ — Term Loan due 2029 (2) SOFR + 2.75% (3) January 5, 2029 1,078,000 1,089,000 Total Senior Secured Credit Facilities (at stated value) 1,078,000 1,089,000 Unamortized discount (20,687) (26,466) Unamortized debt issuance costs (4,999) (6,380) Total Senior Secured Credit Facilities, net $ 1,052,314 $ 1,056,154 Finance lease obligations (4) $ 17,229 $ 5,222 Total debt, net $ 1,069,543 $ 1,061,376 _______ (1) We had an available balance on our Revolving Credit Facility of $225.0 million as of December 31, 2024 and 2023. (2) The effective interest rate for the Term Loan due 2029 was 7.11% and 8.59% as of December 31, 2024 and 2023, respectively. (3) As of December 31, 2023, the Term Loan due 2029 bore interest at SOFR + 3.25%. (4) Interest expense for our finance leases was $1.3 million, $0.4 million and $0.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Aggregate debt maturities for future annual periods are as follows ($ in thousands) : As of December 31, 2024 Term Loan due 2029 2025 $ 11,000 2026 11,000 2027 11,000 2028 11,000 2029 1,034,000 Thereafter — Total debt maturities $ 1,078,000 Senior Secured Credit Facility Playa Resorts Holding B.V., a subsidiary of ours, holds a senior secured credit facility consisting of: (i) a $225.0 million revolving line of credit with a maturity date of January 5, 2028 (the “Revolving Credit Facility”) and (ii) a $1.1 billion term loan with a maturity of January 5, 2029 (the “Term Loan due 2029” and collectively with the Revolving Credit Facility, the “Senior Secured Credit Facility”). The Revolving Credit Facility also includes a $25.0 million sub-facility for the issuance of standby letters of credit and $25.0 million which is available as swingline loans. The Senior Secured Credit Facility includes provisions permitting future increases in the amount of term loans and revolving loan commitments, subject to the agreement of one or more new or existing lenders to provide such additional amounts and certain other customary conditions. The Revolving Credit Facility bears interest at our option of either a base rate plus a margin ranging from 2.25% to 2.75% or the Secured Overnight Financing Rate (“SOFR”) plus a margin ranging from 3.25% to 3.75%, in each case, depending on the level of our consolidated secured net leverage ratio in effect from time to time. In addition, under the Revolving Credit Facility, we pay an unused commitment fee on the average daily undrawn amount at a rate that varies between 0.25% and 0.50%, depending on the level of our consolidated secured net leverage ratio in effect from time to time. The Term Loan due 2029 previously bore interest at either a base rate plus a margin of 3.25% or SOFR plus a margin of 4.25%. The obligations under the Restated Credit Facility are guaranteed by substantially all of our material subsidiaries, subject to certain exceptions. The obligations are further guaranteed by the Company on a limited recourse basis, with such guaranty being secured by a lien on the capital stock of the borrower. The obligations are further secured by, among other things, a lien on (i) all hotels located in Mexico, (ii) certain personal property associated with such hotel properties and (iii) pledges of equity interests in certain subsidiaries that directly or indirectly own equity interests in any hotel property or certain management companies. First Amendment to Second Restatement Agreement On December 22, 2023, we entered into the First Amendment to Second Amended and Restated Credit Agreement to decrease the interest rate applicable to the Term Loan due 2029 to, at our option, either a base rate plus a margin of either 2.25% to 2.50% or SOFR plus a margin of either 3.25% or 3.50%, in each case, depending on the level of our consolidated net leverage ratio in effect from time to time. All other terms of the Senior Secured Credit Facility remained in effect. The repricing of the Term Loan due 2029 was accounted for as a partial modification and partial extinguishment of debt, which resulted in a loss on extinguishment of debt of $0.9 million and transaction costs of $1.7 million for the year ended December 31, 2023. The transaction costs are included in selling, general, and administrative expense in the Consolidated Statements of Operations. Second Amendment to Second Restatement Agreement On June 22, 2024, we entered into the Second Amendment to Second Amended and Restated Credit Agreement to decrease the interest rate applicable to the Term Loan due 2029 by 0.50% to, at our option, either a base rate plus a margin of 1.75% or SOFR plus a margin of 2.75%. All other terms of the Senior Secured Credit Facility remain in effect. The repricing of the Term Loan due 2029 was accounted for as a partial modification and partial extinguishment of debt, which resulted in a loss on extinguishment of debt of $1.0 million and transaction costs of $1.3 million for the year ended December 31, 2024. The transaction costs are included in selling, general, and administrative expense in the Consolidated Statements of Operations. Third Amendment to Second Amended and Restated Credit Agreement and Joinder Agreement On November 1, 2024, we entered into the Third Amendment to Second Amended and Restated Credit Agreement and Joinder Agreement to add Resort Room Sales, LLC, a subsidiary of ours, as an additional borrower to the Senior Secured Credit Facility. All other terms of the Senior Secured Credit Facility remain in effect. Finance lease obligations During the first half of 2024, we entered into multiple finance lease arrangements with various third-parties. The following arrangements resulted in the recognition of a $14.5 million right-of-use asset and $14.1 million lease liability within property and equipment, net and debt, respectively, on the Consolidated Balance Sheet for the following: • A ten-year finance lease arrangement for the use of equipment to produce electricity and hot water at the Hilton Rose Hall Resort & Spa; • A twelve-year finance lease arrangement for the use of equipment to store liquified natural gas at the Hilton Rose Hall Resort & Spa; and • A finance lease arrangement for the use of two condo units at the Hyatt Ziva Los Cabos. During the third quarter of 2024, we terminated our existing finance lease at the Hyatt Ziva Los Cabos and our ten-year finance lease at the Hilton Rose Hall Resort & Spa, which resulted in the de-recognition of a $13.3 million right-of-use asset and lease liability. Concurrent with the termination of our ten-year finance lease at the Hilton Rose Hall Resort & Spa, we executed a new fifteen-year finance lease with another third-party for the use of equipment to produce electricity and chilled and hot water at the same resort. The new fifteen-year finance lease resulted in the recognition of an $11.8 million right-of-use asset and lease liability. Financial maintenance covenants We were in compliance with all applicable covenants as of December 31, 2024. A summary of our applicable covenants and restrictions is as follows: Debt Covenant Terms Senior Secured Credit Facility We are subject to a total net leverage ratio of 5.20x if we have more than 35% drawn on the Revolving Credit Facility.

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	Derivative financial instruments Interest rate swaps We have entered into interest rate swaps to mitigate the interest rate risk inherent to our floating rate debt. Our interest rate swaps outstanding during the years ended December 31, 2024, 2023, and 2022 are as follows: Notional Amount Interest Rate Received Fixed Rate Paid Effective Date Maturity Date Designated as Cash Flow Hedges $275 million One-month SOFR 4.05% April 15, 2023 April 15, 2025 $275 million One-month SOFR 3.71% April 15, 2023 April 15, 2026 Not Designated as Hedging Instrument (1) $800 million One-month LIBOR 2.85% March 29, 2018 March 31, 2023 ________ (1) Our LIBOR-based interest rate swaps were designated as cash flow hedges in March 2019, but were deemed ineffective in February 2020 due to the decrease in interest rates. Foreign currency forward contracts We have entered into foreign currency forward contracts to mitigate the risk of foreign exchange fluctuations on certain direct expenses, such as salaries and wages and food and beverage costs, which are denominated in Mexican Pesos. As of December 31, 2024, the total outstanding notional amount of the forward contracts was $139.6 million, or $2.7 billion Mexican Pesos, which will be settled monthly with maturity dates between January and December 2025. Quantitative disclosures about derivative financial instruments The following tables present the effect of our derivative financial instruments, net of tax, in the Consolidated Statements of Comprehensive Income and Consolidated Statements of Operations for the years ended December 31, 2024, 2023, and 2022 ($ in thousands) : Year Ended December 31, 2024 2023 2022 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Interest rate swaps Change in fair value $ (6,050) $ 16,721 $ (7,890) $ — Reclassification from AOCI to interest expense $ 7,203 $ (4,139) $ 2,416 $ (11,737) ________ (1) Amounts are reclassified from AOCI to interest expense. As of December 31, 2024, the total amount of net gains expected to be reclassified during the next twelve months is $1.3 million. (2) Amounts are reclassified from AOCI to direct expenses. As of December 31, 2024, the total amount of net losses expected to be reclassified during the next twelve months is $12.6 million. Derivative Financial Instruments Financial Statement Classification Year Ended December 31, 2024 2023 2022 Designated as Cash Flow Hedges Interest rate swaps Interest expense $ (7,203) $ (5,300) $ — Foreign currency forwards Direct expenses $ 5,253 $ — $ — Not Designated as Hedging Instruments Interest rate swaps (1) Interest expense $ — $ 3,013 $ (4,948) ________ (1) Includes the (gain) or loss from the change in fair value of our interest rate swaps and the cash interest paid or received for the monthly settlements of the derivative. The following table presents the effect of our interest rate swaps in the Consolidated Balance Sheets as of December 31, 2024 and 2023 ($ in thousands) : Derivative Financial Instruments Financial Statement Classification As of December 31, 2024 2023 Designated as Cash Flow Hedges Interest rate swap Derivative financial assets $ 1,672 $ 2,966 Foreign currency forwards Derivative financial liabilities $ 12,581 $ —

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair value of financial instruments	Fair value of financial instruments The objective of a fair value measurement is to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions. U.S. GAAP establishes a hierarchical disclosure framework, which prioritizes and ranks the level of observability of inputs used in measuring fair value as follows: • Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2: Unadjusted quoted prices for similar assets or liabilities in active markets, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. • Level 3: Inputs are unobservable and reflect our judgments about assumptions that market participants would use in pricing an asset or liability. We believe the carrying value of our financial instruments, excluding our debt, approximate their fair values as of December 31, 2024 and 2023. Our only Level 3 financial instrument in our Consolidated Financial Statements is our pension obligation (refer to Note 15 for further discussion). The following tables present our fair value hierarchy for our financial instruments measured at fair value on a recurring basis as of December 31, 2024 and 2023 ($ in thousands) : Financial Assets December 31, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 1,672 $ — $ 1,672 $ — Financial Liabilities December 31, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Foreign currency forwards $ 12,581 $ — $ 12,581 $ — Financial Assets December 31, 2023 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 2,966 $ — $ 2,966 $ — The following tables present our fair value hierarchy for our financial liabilities not measured at fair value as of December 31, 2024 and 2023 ($ in thousands) : Carrying Value Fair Value As of December 31, 2024 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,052,314 $ — $ — $ 1,079,490 Total liabilities $ 1,052,314 $ — $ — $ 1,079,490 Carrying Value Fair Value As of December 31, 2023 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,056,154 $ — $ — $ 1,097,081 Total liabilities $ 1,056,154 $ — $ — $ 1,097,081 The following table summarizes the valuation techniques used to estimate the fair value of our financial instruments measured at fair value on a recurring basis and our financial instruments not measured at fair value: Valuation Technique Financial instruments recorded at fair value Foreign currency forwards The fair value of the foreign currency forwards is estimated based on the expected future cash flows by incorporating the notional amount of the forward contract, the maturity date of the contract, and observable inputs including spot rates, forward rates, and interest rate curves (including discount factors). The fair value also incorporates credit valuation adjustments to appropriately reflect nonperformance risk. The fair value is largely dependent on prevailing foreign currency forward rates as of the measurement date and maturing on the maturity dates of any existing forwards. If, in subsequent periods, any prevailing foreign currency forward rate differs from the corresponding contracted foreign currency rate, we will recognize a gain or loss. Interest rate swaps The fair value of the interest rate swaps is estimated based on the expected future cash flows by incorporating the notional amount of the swaps, the contractual period to maturity, and observable market-based inputs, including interest rate curves. The fair value also incorporates credit valuation adjustments to appropriately reflect nonperformance risk. The fair value of our interest rate swaps is largely dependent on forecasted SOFR as of the measurement date. If, in subsequent periods, forecasted SOFR exceeds the fixed rates we pay on our interest rate swaps, we will recognize a gain and future cash inflows. Conversely, if forecasted SOFR falls below the fixed rates we pay on our interest rate swaps in subsequent periods, we will recognize a loss and future cash outflows. Financial instruments not recorded at fair value Term Loan due 2029 The fair value of our Term Loan due 2029 is estimated using cash flow projections over the remaining contractual period by applying market forward rates and discounting back at the appropriate discount rate. Revolving Credit Facility The valuation technique of our Revolving Credit Facility is consistent with our Term Loan due 2029. The fair value of the Revolving Credit Facility generally approximates its carrying value as the expected term is significantly shorter in duration.

Employee benefit plan

Employee benefit plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee benefit plan	Employee benefit plan In accordance with labor law regulations in Mexico, certain employees are legally entitled to receive severance that is commensurate with the tenure they had with us at the time of termination. Our pension obligation is a Level 3 financial instrument that is recorded at fair value and calculated using actuarial valuations by applying the “projected unit credit method.” The fair value as of December 31, 2024 was determined based on the application of certain assumptions including a discount rate, mortality (using the EMSSAH-15 and EMSSAM-15 mortality tables, respectively), salary increase and estimated personnel turnover and disability. The following table sets forth our pension obligation, funded status and accumulated pension obligation as of December 31, 2024 and 2023 ( $ in thousands ): As of December 31, 2024 2023 Change in pension obligation Balance at beginning of period $ 9,980 $ 7,777 Service cost 1,217 1,161 Interest cost 775 819 Actuarial (gain) loss (3,569) 43 Effect of foreign exchange rates (1,565) 1,213 Curtailment (118) — Benefits paid (1,292) (1,033) Balance at end of period $ 5,428 $ 9,980 Underfunded status (5,428) (9,980) Accumulated pension obligation $ (4,322) $ (7,483) There were no plan assets as of December 31, 2024 or 2023 as contributions are made only to the extent benefits are paid. The underfunded status of the plan is recorded in other liabilities in the Consolidated Balance Sheet. Actuarial gains and losses are recognized in the Consolidated Statements of Operations. The following table presents the components of net periodic pension cost for the years ended December 31, 2024, 2023, and 2022 ($ in thousands) : Year Ended December 31, 2024 2023 2022 Service cost $ 1,217 $ 1,161 $ 857 Interest cost 775 819 517 Effect of foreign exchange rates (1,565) 1,213 431 Compensation-non-retirement post-employment benefits (48) 183 237 Settlement and curtailment gain (571) (62) (82) Other (69) 18 1 Total net periodic pension (benefit) cost $ (261) $ 3,332 $ 1,961 The service cost component of net periodic pension cost is recorded within direct expense in the Consolidated Statements of Operations, while all other components are recorded within other (expense) income. The weighted-average assumptions used to determine the pension obligation as of December 31, 2024 and 2023 and the net periodic pension cost for the years ended December 31, 2024, 2023, and 2022 were as follows: As of December 31, 2024 2023 2022 Discount rate 10.50 % 9.70 % 9.22 % Rate of compensation increase 4.79 % 4.79 % 4.79 % The discount rate reflects the current rate at which our pension obligations could be effectively settled on the measurement date. The discount rate was determined by our actuary based on a yield curve constructed from a portfolio of zero-coupon government bonds for which the timing and amount of cash flows approximate the estimated benefit payments of the plan. The plan’s expected cash flows are then discounted using the applicable spot rate from the yield curve to determine a single effective discount rate. The following table represents our expected plan payments for the next five years and thereafter ( $ in thousands ): As of December 31, 2024 2025 $ 841 2026 842 2027 881 2028 910 2029 948 Thereafter 3,882 Total expected plan payments $ 8,304

Other balance sheet items

Other balance sheet items	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other balance sheet items	Other balance sheet items Trade and other receivables, net The following summarizes the balances of trade and other receivables, net as of December 31, 2024 and 2023 ($ in thousands): As of December 31, 2024 2023 Gross trade and other receivables (1) $ 68,226 $ 75,051 Allowance for doubtful accounts (1,269) (289) Total trade and other receivables, net $ 66,957 $ 74,762 ________ (1) The opening balance as of January 1, 2023 was $63.4 million. Financial instruments that are subject to credit risk consist primarily of trade accounts receivable. Trade accounts receivable are generated from sales of services to customers in the United States, Canada, Europe, Latin America and Asia. Our policy is to mitigate this risk by granting a credit limit to each client depending on the client’s volume and credit quality. In order to increase the initially established credit limit, approval is required from the credit manager. Each resort periodically reviews the age of the clients’ balances and the balances which may be of doubtful recoverability. We do not require collateral or other security in support of accounts receivable. Allowances are provided for individual accounts receivable when we become aware of a customer’s inability to meet its financial obligations, such as in the case of bankruptcy, deterioration in the customer’s operating results, or change in financial position. If circumstances related to customers change, estimates of the recoverability of receivables would be further adjusted. We also consider broader factors in evaluating the sufficiency of our allowances for doubtful accounts, including the length of time receivables are past due, significant one-time events and historical experience. The gross carrying amount of the trade and other receivables balance is reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. The allowance is based on historical loss experience, specific risks identified in collection matters and analysis of past due balances identified in the aging detail. We have not experienced any significant write-offs to our accounts receivable. The change in the allowance for doubtful accounts for the years ended December 31, 2024, 2023, and 2022 is summarized in the following table ($ in thousands) : Balance at January 1 Additions Deductions (1) Balance at December 31 December 31, 2024 $ (289) $ (2,282) $ 1,302 $ (1,269) December 31, 2023 $ (450) $ (375) $ 536 $ (289) December 31, 2022 $ (1,940) $ (656) $ 2,146 $ (450) ________ (1) Includes reversals of our bad debt expense and write-offs of our allowance for doubtful accounts. Prepayments and other assets The following summarizes the balances of prepayments and other assets as of December 31, 2024 and 2023 ($ in thousands) : As of December 31, 2024 2023 Advances to suppliers $ 15,383 $ 18,213 Prepaid income taxes 10,513 11,510 Prepaid other taxes (1) 8,444 5,641 Operating lease right-of-use assets 5,681 6,426 Key money 6,684 6,475 Other assets 8,360 6,029 Total prepayments and other assets $ 55,065 $ 54,294 ________ (1) Includes recoverable value-added tax, general consumption tax, and other sales tax accumulated by our Mexico, Jamaica, Dutch and Dominican Republic entities. Goodwill We recognized no goodwill impairment losses on our reporting units during the years ended December 31, 2024, 2023 and 2022. The gross carrying values and accumulated impairment losses of goodwill by reportable segment (refer to discussion of our reportable segments in Note 17) as of December 31, 2024 and 2023 were as follows ($ in thousands): Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Total Gross carrying value $ 51,731 $ — $ — $ 33,879 $ 85,610 Accumulated impairment losses (6,168) — — (18,800) (24,968) Net carrying value $ 45,563 $ — $ — $ 15,079 $ 60,642 Other intangible assets Other intangible assets as of December 31, 2024 and 2023 consisted of the following ( $ in thousands ): As of December 31, 2024 2023 Gross carrying value Casino and other licenses (1) $ — $ 607 Management contract 1,900 1,900 Enterprise resource planning system (2) 6,352 6,352 Other 1,755 4,674 Total gross carrying value 10,007 13,533 Accumulated amortization Management contract (618) (523) Enterprise resource planning system (2) (6,008) (4,349) Other (1,290) (4,304) Total accumulated amortization (7,916) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,282 1,377 Enterprise resource planning system (2) 344 2,003 Other 465 370 Total net carrying value $ 2,091 $ 4,357 ________ (1) Our casino licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization. (2) Represents software development costs incurred to develop and implement SAP as our integrated enterprise resource planning system. Associated costs are being amortized over a weighted-average amortization period of 4 years. Amortization expense for intangible assets was $2.6 million, $2.1 million and $1.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. Amortization expense for our intangible assets with finite lives is expected to be as follows ( $ in thousands ): As of December 31, 2024 2025 $ 641 2026 189 2027 175 2028 135 2029 119 Thereafter 832 Total future amortization expense $ 2,091 Trade and other payables The following summarizes the balances of trade and other payables as of December 31, 2024 and 2023 ($ in thousands) : As of December 31, 2024 2023 Trade payables $ 22,684 $ 25,929 Advance deposits (1) 71,044 80,506 Withholding and other taxes payable 11,188 15,164 Interest payable — 2,603 Payroll and related accruals 26,039 31,466 Accrued expenses and other payables (2) 23,622 40,764 Total trade and other payables $ 154,577 $ 196,432 ________ (1) The opening balance as of January 1, 2023 was $83.3 million. (2) Accrued expenses and other payables includes $16.8 million of accrued clean up and repair expenses related to Hurricane Fiona as of December 31, 2023. The accrued clean up and repair expenses related to Hurricane Fiona was immaterial as of December 31, 2024. Other liabilities The following summarizes the balances of other liabilities ($ in thousands) : As of December 31, 2024 2023 Pension obligation $ 5,428 $ 9,980 Operating lease liabilities 6,204 6,973 Unfavorable ground lease liability 1,639 1,748 Key money 13,300 14,331 Other 941 938 Total other liabilities $ 27,512 $ 33,970

Business segments

Business segments	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business segments	Business segments We consider each one of our owned resorts to be an operating segment, none of which meets the threshold for a reportable segment. We also allocate resources and assess operating performance based on individual owned resorts. Our operating segments meet the aggregation criteria and thus, we report four separate reportable segments by geography: (i) Yucatán Peninsula, (ii) Pacific Coast, (iii) Dominican Republic, and (iv) Jamaica. Our operating segments are components of the business that are managed discretely and for which discrete financial information is reviewed regularly by our Chief Executive Officer, Chief Financial Officer and Chief Operating Officer, all of whom collectively represent our chief operating decision maker (“CODM”). Financial information for each reportable segment is reviewed by the CODM to assess performance and make decisions regarding the allocation of resources. Our CODM evaluates the performance of our segments on adjusted earnings before interest expense, income tax (provision) benefit, and depreciation and amortization expense, corporate expenses, The Playa Collection revenue and management fees (“Owned Resort EBITDA”) and the performance of our business primarily on adjusted EBITDA. The following table presents segment Owned Net Revenue, defined as total revenue less compulsory tips paid to employees, cost reimbursements, management fees, The Playa Collection revenue, and other miscellaneous revenue not derived from segment operations, and a reconciliation to total revenue for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Owned Net Revenue Yucatán Peninsula $ 317,590 $ 306,259 $ 280,161 Pacific Coast 125,742 141,582 128,210 Dominican Republic 257,895 253,700 230,972 Jamaica 189,619 219,903 180,318 Total Owned Net Revenue 890,846 921,444 819,661 Other 1,472 8,813 1,000 Management fees 6,148 7,030 3,828 The Playa Collection 5,949 3,642 1,752 Cost reimbursements 9,873 12,475 9,706 Compulsory tips 24,281 24,100 20,316 Total revenue $ 938,569 $ 977,504 $ 856,263 The following tables present significant segment expenses for each of our reportable segments and a reconciliation from Owned Net Revenue to Owned Resort EBITDA for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 317,590 $ 125,742 $ 257,895 $ 189,619 Less: Salaries and wages 71,151 27,138 41,202 33,536 Food and beverage 28,412 10,660 28,836 23,540 Utilities 11,162 4,640 15,313 11,951 Franchise and license fees 16,914 7,992 14,878 9,207 Sales and marketing 23,423 9,446 11,055 9,179 Property insurance 9,791 4,525 8,828 6,839 Other segment items (1) 47,085 18,545 38,716 44,044 Owned Resort EBITDA $ 109,652 $ 42,796 $ 99,067 $ 51,323 Year Ended December 31, 2023 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 306,259 $ 141,582 $ 253,700 $ 219,903 Less: Salaries and wages 67,572 27,444 48,552 31,878 Food and beverage 30,453 13,183 32,273 25,864 Utilities 11,166 5,255 18,500 12,736 Franchise and license fees 16,163 8,719 13,512 10,564 Sales and marketing 23,319 10,244 12,362 10,217 Property insurance 8,694 4,012 9,273 5,919 Other segment items (1) 44,051 19,216 39,150 42,225 Owned Resort EBITDA $ 104,841 $ 53,509 $ 80,078 $ 80,500 Year Ended December 31, 2022 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 280,161 $ 128,210 $ 230,972 $ 180,318 Less: Salaries and wages 53,204 21,986 43,550 26,450 Food and beverage 27,951 12,284 29,595 23,440 Utilities 9,802 4,458 17,501 14,074 Franchise and license fees 14,544 8,118 9,529 8,367 Sales and marketing 23,461 9,192 12,702 8,093 Property insurance 5,358 2,436 5,887 3,753 Other segment items (1) 40,425 18,588 35,354 39,862 Owned Resort EBITDA $ 105,416 $ 51,148 $ 76,854 $ 56,279 ________ (1) Other segment items for each reportable segment include administrative and general costs (including credit card commissions and centralized service costs), repairs and maintenance, departmental expenses (including guest costs and music and entertainment costs), and owner expenses (including corporate allocated costs). The following table presents segment Owned Resort EBITDA and a reconciliation to net income for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Owned Resort EBITDA Yucatán Peninsula $ 109,652 $ 104,841 $ 105,416 Pacific Coast 42,796 53,509 51,148 Dominican Republic 99,067 80,078 76,854 Jamaica 51,323 80,500 56,279 Total Owned Resort EBITDA 302,838 318,928 289,697 Interest expense (89,364) (108,184) (64,164) Depreciation and amortization (78,580) (81,827) (78,372) Gain (loss) on sale of assets 18,161 (5,069) (6) Loss on extinguishment of debt (1,043) (894) (18,307) Other (expense) income (1,738) (353) 3,857 Repairs from hurricanes and severe weather events (1,620) 823 (8,074) Contract termination fees — 6,485 — Share-based compensation (14,909) (13,207) (11,892) Other tax (expense) income (138) 34 (502) Transaction expense (4,176) (4,705) (15,110) Severance expense (1,398) (1,655) — Non-service cost components of net periodic pension (benefit) cost (1) (1,478) 2,171 1,104 Corporate and other (2) (44,789) (46,981) (47,078) Net income before tax $ 81,766 $ 65,566 $ 51,153 ________ (1) Represents the non-service cost components of net periodic pension cost or benefit recorded within other (expense) income in the Consolidated Statements of Operations. We include these costs in Owned Resort EBITDA as they are considered part of our ongoing resort operations. (2) Includes management fee revenue, The Playa Collection revenue, and corporate expenses. Corporate expenses include corporate salaries and benefits, professional fees, corporate rent and insurance corporate travel, software licenses, board fees and other miscellaneous corporate expenses. The following table presents segment property and equipment, gross and a reconciliation to total property and equipment, net as of December 31, 2024 and 2023 ( $ in thousands ): As of December 31, 2024 2023 Segment property and equipment, gross Yucatán Peninsula $ 692,443 $ 683,073 Pacific Coast 361,077 305,588 Dominican Republic 457,647 541,629 Jamaica (1) 414,804 422,772 Total segment property and equipment, gross 1,925,971 1,953,062 Corporate property and equipment, gross 6,987 5,823 Accumulated depreciation (558,628) (543,313) Total property and equipment, net $ 1,374,330 $ 1,415,572 ________ (1) Property and equipment of the Jewel Paradise Cove resort is included within assets held for sale in the Consolidated Balance Sheet. The following table presents segment capital expenditures and a reconciliation to total capital expenditures for the years ended December 31, 2024, 2023 and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Segment capital expenditures Yucatán Peninsula $ 14,050 $ 13,011 $ 10,018 Pacific Coast (2) 56,792 15,337 4,782 Dominican Republic 5,142 9,526 8,163 Jamaica (2) 34,552 8,136 6,304 Total segment capital expenditures 110,536 46,010 29,267 Corporate 3,298 742 698 Total capital expenditures (1) $ 113,834 $ 46,752 $ 29,965 ________ (1) Represents gross additions to property and equipment. (2) Includes the gross balance of finance lease right-of-use assets terminated during the year ended December 31, 2024.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events For our Consolidated Financial Statements as of December 31, 2024, we evaluated subsequent events through February 25, 2025, which is the date the Consolidated Financial Statements were issued. Proposed Hyatt Transaction On February 9, 2025, the Company entered into a Purchase Agreement (the “Purchase Agreement”) with Hyatt and HI Holdings Playa B.V., a Dutch private limited liability company organized under the laws of the Netherlands and an indirect wholly owned subsidiary of Hyatt (“Buyer”). Pursuant to the Purchase Agreement, and upon the terms and subject to the conditions thereof, Buyer will commence a tender offer (the “Offer”) to purchase all of the Company’s issued and outstanding ordinary shares (the “Shares”) at a cash price of $13.50 per Share (the “Offer Consideration”), less any applicable withholding taxes and without interest. The Offer will initially remain open until 9:00 a.m. (New York City time) on the day that is • 21 business days from the commencement of the Offer; or • six business days after the date of the extraordinary general meeting of the shareholders of the Company discussed below (the “EGM”), whichever is later, unless the Offer is extended. The time at which the Offer expires (taking into account any extensions) is referred to as the “Expiration Time.” On the first business day after the Expiration Time, subject to the conditions to the Offer having been satisfied, Buyer will commence a subsequent offering period (the “Subsequent Offering Period”) for a period of five business days to purchase additional Shares. Pursuant to the Subsequent Offering Period, Buyer will offer to purchase such additional Shares at the Offer Consideration, without interest and subject to any required tax withholding. Beginning promptly on the final date on which shares are tendered during the Subsequent Offering Period, Hyatt and Buyer shall be required to effectuate, or cause to be effectuated, and the Company and its subsidiaries shall effectuate, if permissible under applicable law, the following transactions (jointly referred to as the “Back-End Transactions”): • prior to the statutory triangular merger ( juridische driehoeksfusie ) of the Company (as disappearing company) with and into Playa Hotels & Resorts Merger Sub B.V. (as acquiring company) (“New Merger Sub”), with Playa Hotels & Resorts New TopCo B.V. (“New TopCo”) allotting class A shares of NewTopCo to the Company’s shareholders (other than Buyer) (“New TopCo A Shares”) and class B shares of New TopCo to Buyer in accordance with Sections 2:309 et seq. and 2:333a of the Dutch Civil Code as contemplated by and in accordance with the terms of the merger proposal and accompanying explanatory notes filed with the Dutch trade registry (the “Triangular Merger”) becoming effective, the Company shall, in its capacity as sole shareholder of New TopCo, resolve to effectuate the cancellation of all outstanding New TopCo A Shares following the effective time of the Triangular Merger (the “Cancellation”); • the Company, New TopCo and New Merger Sub shall execute the notarial deed effecting the Triangular Merger no later than 23:59, local time, on the closing date of the Subsequent Offering Period; • promptly after the Triangular Merger becomes effective but prior to the Cancellation becoming effective, Buyer shall grant a loan to New TopCo for an amount in cash made available to New TopCo as immediately available funds equal to the product of (A) the number of New TopCo A Shares that will be issued and outstanding as at the effective time of the Cancellation and (B) the Offer Consideration (such product being the amount needed for New TopCo to make the repayment and distribution to the holders of New TopCo A Shares as part of the Cancellation) (the “Loan”); • after the granting of the Loan but prior to the effective time of the Cancellation, the management board of New TopCo shall resolve on approving the Cancellation in accordance with applicable law, provided that the management board of New TopCo at such time does not know nor reasonably foresees that following the Cancellation New TopCo cannot continue to pay its due and payable debts; and subject to the foregoing steps having been completed, the Cancellation shall become effective at 0:30, local time on the date that the Triangular Merger becomes effective. Upon completion of the Back-End Transaction, each Company shareholder that did not tender its Shares prior to the expiration of the Subsequent Offering Period will cease to hold any Shares and will have received an amount in cash, without interest and subject to any required tax withholding, equal to the Offer Consideration multiplied by the number of Shares held by such minority shareholder immediately prior to the Back-End Transactions. As a result of the Back-End Transaction, the Company will no longer be a publicly traded company, the listing of the Shares on Nasdaq will be terminated and the Shares will be deregistered under the Securities Exchange Act of 1934, as amended, (the “Exchange Ac”) resulting in the cessation of the Company’s reporting obligations with respect to the Shares thereunder. Buyer’s obligation to purchase Shares pursuant to the Offer is subject to the satisfaction or waiver of various usual and customary conditions, including: • The tendering of a sufficient number of Shares to enable Buyer to acquire, together with the Shares it currently holds, at least eighty percent (80%) of the Shares (the “Minimum Condition”) at the settlement of the Offer (the “Closing”). Under certain circumstances, Buyer may reduce the Minimum Condition to seventy-five percent (75%) of the Shares. • The receipt of required approvals relating to anti-competition filings under Ley Federal de Competencia Económica - Economic Competition Federal Law of Mexico and any other applicable laws relating to antitrust or competition regulation, or the expiration or termination of their respective waiting periods, including any extensions (collectively, the “Required Approvals”). Hyatt, Buyer and the Company have agreed to use their respective reasonable best efforts to obtain the Required Approvals. • The adoption of resolutions by shareholders of the Company at an EGM (or a subsequent EGM) convened by the Company to approve certain transactions relating to the Offer and appointing Buyer designees to, and removal of certain other directors from, our Board effective upon the Closing (the “Shareholder Approval”). The Shareholder Approval will include the entering into the Back-End Transaction. Hyatt has obtained committed debt financing to support the Offer and the Offer is not subject to any financing condition. If, at any then-scheduled Expiration Time, any conditions of the Offer have not been satisfied or waived by Buyer, Buyer must, subject to certain exceptions, extend the Offer in consecutive periods of up to ten business days in order to permit the satisfaction of such conditions. If Buyer determines at any then-scheduled Expiration Time that the conditions of the Offer are not reasonably likely to be satisfied within a ten business day extension period, then Buyer may choose to extend the Offer for up to 20 business days instead. Buyer is not required to extend the Offer beyond October 9, 2025 (the “End Date”). In addition, if the only unmet conditions are the Minimum Condition and certain other conditions relating to shareholder approvals or that can otherwise only be satisfied at the Closing, Buyer will not be required to extend the Offer on more than three occasions. In connection with the Offer, certain of the Company’s officers and directors, who in aggregate control approximately 9.8% of the Shares, entered into tender and support agreements with the Company in their respective capacities as Company shareholders. Under those agreements, each such shareholder has agreed, among other things, to tender his or her Shares in the Offer and to vote in favor of the adoption of certain shareholders’ resolutions at the EGM. The Purchase Agreement contains customary representations, warranties and covenants of Hyatt, Buyer and the Company, including a covenant requiring the Company to operate its business and that of its subsidiaries in the ordinary course consistent with past practice. Subject to certain exceptions, the Company has agreed to cease all existing, and to not solicit or initiate, discussions with third parties regarding, alternative proposals to acquire, or enter into similar transactions involving, the Company (each, an “Alternative Acquisition Proposal”). The Purchase Agreement provides for the following treatment of Playa equity awards upon the payment by Buyer for all Shares tendered in the Offer prior to the Expiration Time: • Each restricted share issued by Playa that remains subject to one or more vesting conditions (each a “Playa Restricted Share”) and each restricted stock unit issued by Playa that remains subject to one or more vesting conditions (each, a “Playa RSU”), in each case, held by any non-executive director of Playa and certain non-continuing employees to be determined by Hyatt will become fully vested and will be automatically converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying the Offer Consideration by the total number of vested Shares subject to such Terminating Award as of immediately prior to the Closing. Each Playa Restricted Share that vests based on achievement of one or more performance goals will vest at either (i) target performance or (ii) the greater of actual and target performance, in each case, in accordance with the applicable award agreement memorializing such Playa Restricted Share). • Each award of Playa Restricted Shares and each award of Playa RSUs that is unvested (after taking into consideration the accelerated vesting described above) and that remains issued and outstanding as of immediately prior to the Closing (each a “Continuing Award”) will be assumed by Hyatt and converted into a corresponding award of restricted stock units covering a number of shares of Hyatt common stock (rounded up to the nearest whole number of shares) equal to the product obtained by multiplying (i) (A) for each time-based Continuing Award, the number of shares subject to such Continuing Award as of immediately prior to the Closing or (B) for each performance-based Continuing Award, the number of shares subject to such Continuing Award determined either (1) as though the greater of target performance or actual performance has been achieved as of the Closing, or (2) as though target performance has been achieved, in each case, as determined by and in accordance with the award agreement evidencing such Continuing Award by (ii) the quotient of (a) the average closing price per share for Playa common stock, as reported on the Nasdaq and by Bloomberg L.P., for the 20 trading days ending on the trading day immediately preceding the date of the Closing, divided by (b) the average closing price per share for Hyatt common stock, as reported on NYSE and by Bloomberg L.P., for the 20 trading days ending on the trading day immediately preceding the date of the Closing (each resulting award covering Hyatt common stock, an “Assumed Award”). Each Assumed Award will continue to have, and be subject to, the same terms and conditions as applied to the corresponding Continuing Award as of immediately prior to the Closing (including dividend or dividend equivalent rights, as applicable but excluding any performance criteria), except that upon the termination of employment or service of an Assumed Award holder without “cause” or upon a termination of employment by the Assumed Award holder for “good reason,” either (i) within twelve (12) months following the Closing for any such Assumed Award holder who is not a part of a group of certain identified Playa employees or (ii) within twenty-four (24) months following the Closing for any such Assumed Award holder who is a part of a group of certain identified Playa employees, in either case such holder’s Assumed Awards will, upon effectiveness of a release and waiver, immediately vest in full. The Purchase Agreement contains certain termination rights, including: • the right of Playa or Hyatt to terminate the Purchase Agreement: ◦ if Playa and Hyatt mutually agree to terminate; ◦ if the Offer is not consummated on or before 11:59 p.m. (New York City time) on the End Date; ◦ if there is a final, permanent and non-appealable order of a governmental authority prohibiting the consummation of the Offer; or ◦ the Offer has expired in accordance with its terms without all of the Offer Conditions having been satisfied or waived. • the right of Playa to terminate the Purchase Agreement: ◦ if concurrently with or immediately following such termination, Playa enters into a definitive agreement with respect to a Superior Proposal and has not breached any of its obligations under the no solicitation covenant in any material respect with respect to such Superior Proposal; ◦ if Hyatt or Buyer breaches its representations or warranties or covenants and such breach would result in any Offer Condition not being satisfied (subject to a cure period); or ◦ if (A) the time of acceptance for payment (the “Acceptance Time”) has occurred, (B) Hyatt and Buyer have failed to pay for all shares validly tendered, (C) Playa delivers written notice to Hyatt or Buyer to make such payment, and (D) Hyatt or Buyer fails to make such payment within three (3) business days of receiving such notice. • the right of Hyatt to terminate the Purchase Agreement: ◦ if prior to the purchase of any shares pursuant to the Offer, Playa breaches its representations and warranties or covenants (other than a willful breach of the no solicitation covenant) and such breach would result in any Offer Condition not being satisfied (subject to a cure period) (the “Company Breach Termination Right”); ◦ following an Adverse Recommendation Change or a willful breach by Playa of the no solicitation covenant; or ◦ if the EGM (or a subsequent EGM, if applicable) has been held and the resolutions proposed to the Playa shareholders (including the Back-End Transactions) have not been adopted (the “EGM Termination Right”). Upon termination of the Purchase Agreement, Playa has agreed to pay Hyatt a termination fee of $56,323,547 under specified circumstances, including a termination by Playa to enter into an agreement for a Superior Proposal, a termination by Hyatt following an Adverse Recommendation Change or Playa’s willful breach of the no solicitation covenant, and, in the event that an Alternative Acquisition Proposal is made public prior to a termination for certain specified reasons and, within 12 months of such termination, Playa consummates or enters into an agreement with respect to any transaction specified in the definition of Alternative Acquisition Proposal. Playa has also agreed to reimburse Hyatt the reasonable and documented out-of-pocket costs and expenses incurred by Parent or Buyer up to $8.0 million in connection with the transactions contemplated by the Purchase Agreement, if the Purchase Agreement is terminated: • because the Acceptance Time has not occurred before the End Date and certain Offer Conditions have not been satisfied; • the Offer expired in accordance with its terms without all of the Offer Conditions having been satisfied; or • pursuant to the EGM Termination Right. The foregoing description of the Purchase Agreement is only a summary of certain material provisions thereof, does not purport to be complete. The full text of the Purchase Agreement is filed as Exhibit 2.1 to this Form 10-K.

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Schedule I - Condensed Financial Information of Registrant	SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT Playa Hotels & Resorts N.V. (Parent Company) Balance Sheets ($ in thousands) As of December 31, 2024 2023 ASSETS Cash and cash equivalents $ 3,102 $ 2,492 Receivables from subsidiaries 14,906 913 Prepayments and other assets 55 447 Investment in subsidiaries 581,684 654,196 Total assets $ 599,747 $ 658,048 LIABILITIES AND SHAREHOLDERS' EQUITY Trade and other payables $ 669 $ 118 Income tax payable 14,010 — Advances from subsidiaries 103,178 103,133 Total liabilities 117,857 103,251 Total shareholders’ equity 481,890 554,797 Total liabilities and shareholders' equity $ 599,747 $ 658,048 The accompanying notes are an integral part of these Condensed Financial Statements. SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT Playa Hotels & Resorts N.V. (Parent Company) Statements of Operations ($ in thousands) Year Ended December 31, 2024 2023 2022 Revenue $ 34 $ 342 $ — Selling, general and administrative expenses (2,935) (14,553) (12,827) Reimbursed costs (34) (342) — Operating loss (2,935) (14,553) (12,827) Other (expense) income (114) (8) 58,171 Interest income 35 203 31 Net (loss) income before tax (3,014) (14,358) 45,375 Income tax provision (14,010) — — Net (loss) income before equity in net income of subsidiaries (17,024) (14,358) 45,375 Equity in net income of subsidiaries 90,837 68,210 11,331 Net income $ 73,813 $ 53,852 $ 56,706 The accompanying notes are an integral part of these Condensed Financial Statements. SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT Playa Hotels & Resorts N.V. (Parent Company) Statements of Cash Flows ($ in thousands) Year Ended December 31, 2024 2023 2022 OPERATING ACTIVITIES Net cash provided by operating activities $ 152,249 $ 191,689 $ 48,777 INVESTING ACTIVITIES Investment in subsidiaries (85) (15,400) — Net cash used in investing activities (85) (15,400) — FINANCING ACTIVITIES Repurchase of ordinary shares (151,449) (186,889) (44,588) Repurchase of ordinary shares for tax withholdings (105) — — Net cash used in financing activities (151,554) (186,889) (44,588) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 610 (10,600) 4,189 CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD $ 2,492 $ 13,092 $ 8,903 CASH AND CASH EQUIVALENTS, END OF THE PERIOD $ 3,102 $ 2,492 $ 13,092 SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES Repurchase of ordinary shares for tax withholdings $ 4 $ — $ — Par value of vested restricted share awards $ 282 $ 122 $ 182 Repurchase of ordinary shares not yet settled $ — $ — $ 1,668 The accompanying notes are an integral part of these Condensed Financial Statements. Playa Hotels & Resorts N.V. (“Playa,” “we,” “us,” or the “Company”) was incorporated as a public limited liability company in the Netherlands concurrent with a business combination pursuant to a transaction agreement by and among us, Playa Hotels & Resorts B.V., Pace Holdings Corp., an entity that was formed as a special purpose acquisition company for the purpose of effecting a merger or other similar business combination with one or more target businesses, and New Pace Holdings Corp. Playa became the parent company (holding) of the Company’s portfolio through its wholly-owned subsidiary Playa Resorts Holding B.V. When presenting parent company financial statements (our “Condensed Financial Statements”), the Company accounts for its investment in subsidiaries using the equity method of accounting. Certain of the Company’s subsidiaries have material restrictions on their ability to pay dividends or make intercompany loans and advances pursuant to the Senior Secured Credit Facility (as defined in Note 12 of the Company’s Consolidated Financial Statements included elsewhere in this filing). These Condensed Financial Statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of Playa and its subsidiaries constitute more than 25% of the consolidated net assets of the Company and its subsidiaries. This information should be read in conjunction with the Company’s Consolidated Financial Statements included elsewhere in this filing. The legal entity has guaranteed liabilities of certain consolidated group companies, as meant in article 2:403 of the Netherlands Civil Code. The legal entity is therefore jointly and severally liable for the liabilities arising from the legal acts of those group companies. The Company and its subsidiaries are involved in certain litigation and claims, including claims and assessments with taxing authorities, which are incidental to the conduct of its business. The Dutch Corporate Income Tax Act provides the option of a fiscal unity, which is a consolidated tax regime wherein the profits and losses of group companies can be offset against each other. With the exception of Playa Hotels & Resorts N.V., our Dutch companies file as a fiscal unity. Playa Resorts Holding B.V. is the head of our Dutch fiscal unity and all members of the fiscal unity are jointly and severally liable for the tax liabilities of the fiscal unity as a whole. We received $153.3 million, $184.0 million and $50.0 million in cash dividends during the years ended December 31, 2024, 2023, and 2022, respectively, which are included within operating activities in the Condensed Statements of Cash Flows for all periods presented. During the year ending December 31, 2022, the cash advances from our Jamaican subsidiaries were forgiven and resulted in $58.2 million of other income within the Condensed Statement of Operations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 73,813	$ 53,852	$ 56,706

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Company’s cybersecurity program focuses on (1) preventing and preparing for cybersecurity incidents, (2) detecting and analyzing cybersecurity incidents, and (3) containing, eradicating, recovering from and reporting cybersecurity events. These processes and procedures for managing material risks from cybersecurity threats are integrated into the Company’s overall enterprise risk management systems and processes. Prevention and Preparation The Company employs a variety of measures to prevent threats related to privacy, information technology and security and cybersecurity, which include password protection, frequent mandatory password change events, multi-factor authentication, internal phishing testing, and vulnerability scanning and penetration testing. The Company utilizes industry leading solutions for endpoint detection and response, patch management, email security, network security, and privileged access management to provide a layered approach to data security. Third-party cyber readiness assessments are conducted on a recurring basis and third-party tools are utilized to identify potential vulnerabilities. In addition to the third-party cybersecurity framework referenced above, regular cyber security reviews are conducted with internal audit. We recognize that threat actors frequently target employees to gain unauthorized access to information systems. Therefore, each of our associates is required to complete information security and data privacy training on an annual basis to reinforce awareness of cybersecurity risks to the organization. Updates are provided to associates on an ongoing basis through cybersecurity awareness email campaigns, break room posters, and other methods of communication. We recognize that third-parties that provide services to the Company can be subject to cybersecurity incidents that could impact the Company. To mitigate third-party risk from our vendors that hold financial or customer data, we maintain a vendor code of conduct, which is designed to require our third-party vendors to comply with our requirements for maintenance of passwords, as well as other confidentiality, security, and privacy procedures. Third-party IT vendors are also subject to additional diligence such as questionnaires and inquiries. As discussed above, to support our preparedness we have an IRP that we regularly update, as well as a quick reference checklist and response playbooks with step-by-step actions for significant threat categories. In addition, we perform tabletop exercises and periodic drills at least once a year to test our incident response procedures, identify improvement opportunities and exercise team preparedness. We also maintain cybersecurity insurance providing coverage for certain costs related to security failures and specified cybersecurity-related incidents that interrupt our network or networks of our vendors, in all cases up to specified limits and subject to certain exclusions. Detection and Analysis Cybersecurity incidents may be detected through a variety of means, which may include, but are not limited to, automated event-detection notifications or similar technologies which are monitored by our cyber defense team, notifications from employees, vendors or service providers, and notifications from third party information technology system providers. Once a potential cybersecurity incident is identified, including a third-party cybersecurity event, the incident response team designated pursuant to our IRP follows the procedures set forth in the plan to investigate the potential incident, including determining the nature of the event (e.g., ransomware or personal data breach) and assessing the severity of the event and sensitivity of any compromised data. Containment, Eradication, Recovery, and Reporting In the event of a cybersecurity incident, the incident response team is initially focused on containing the cybersecurity incident as quickly and efficiently as possible consistent with the procedures in the IRP. Containment procedures may include off-lining systems, including by disconnecting, disabling, or segmenting network access for computers known to be infected or impacted, installing security patches to resolve malware issues or network vulnerabilities, resetting passwords for users with accounts that were breached, or blocking accounts of insiders who may have caused the incident, and coordinating with service providers. Once a cybersecurity incident is contained the focus shifts to remediation. Where appropriate, third-party forensic providers and other managed service providers may be brought in to assist with the investigation and remediation process. We have relationships with or access to a number of third-party service providers to assist with cybersecurity containment and remediation efforts, including a security operations center (SOC) provider, specialists in backup and recovery, a forensic investigation firm, a ransomware recovery vendor, insurance providers, communications and public relations firms, and various law firms. Our IRP requires prompt notification of our senior management in the event of a cybersecurity incident that has impacted or is expected to impact the Company and prompt briefings on subsequent developments as appropriate. The IRP also addresses senior management responsibility, subject to Audit Committee oversight, with respect to disclosure determinations related to the cybersecurity incident. The IRP provides for Audit Committee and Board briefings as appropriate.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company’s cybersecurity program focuses on (1) preventing and preparing for cybersecurity incidents, (2) detecting and analyzing cybersecurity incidents, and (3) containing, eradicating, recovering from and reporting cybersecurity events. These processes and procedures for managing material risks from cybersecurity threats are integrated into the Company’s overall enterprise risk management systems and processes.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company employs a robust system of information technology and cybersecurity controls across its enterprise to assess, identify, and manage material risks from cybersecurity threats. This framework is implemented and overseen by management’s information security and compliance department, which is led by the Company’s Vice President, IT Security & Compliance. The Vice President, IT Security & Compliance, who reports directly to Senior Vice President, Information Technology, has a Bachelor of Science in Commerce, with concentrations in management information systems and marketing, and has over 30 years’ experience in all aspects of IT, including managing development, operations, cybersecurity, and other key areas. The Senior Vice President, Information Technology, has an Executive Technology Leadership Certificate in IT from Cornell University and has over 25 years of IT experience leading large-scale initiatives to enhance infrastructure and architecture based on emerging technologies and strategies. The Vice President, IT Security & Compliance and Senior Vice President, Information Technology, provide regular briefings to our senior management team on cybersecurity matters, including threats, events, and program enhancements. The Company also has a network of regional information technology directors stationed in each region where our resorts are located, who are integrated into the overall enterprise information technology security and compliance program. The Company references a recognized third-party cybersecurity framework to evaluate and manage cyber risk within the Company. We regularly benchmark against this framework and use the findings to develop and fine tune our cybersecurity roadmap for ongoing evolution and improvement. In the event of an incident which jeopardizes the confidentiality, integrity, or availability of our information technology systems, our information security and compliance team utilizes a regularly updated cybersecurity incident response plan (“IRP”). The IRP has been designed taking into account a third-party cybersecurity framework focused on properly containing, investigating, and fully eradicating an incident. Pursuant to that plan and its escalation protocols, designated personnel are responsible for assessing the severity of the incident and associated threat, containing and resolving the incident as quickly and efficiently as possible, mitigating damage to the Company’s systems and networks, minimizing impact on the Company’s stakeholders, analyzing and executing upon reporting obligations associated with the incident, and performing post-incident analysis and program improvements. While the particular personnel assigned to an incident response team, including specified external forensic investigators and advisors, will depend on the particular facts and circumstances, the response team is led by the Vice President, IT Security & Compliance or his delegee. The plan also designates responsibility to specified members of our senior management for Company disclosure determinations related to the incident. Pursuant to its charter, the Audit Committee of the Board, which consists solely of independent directors and whose chair has cybersecurity experience, reviews, discusses with management, and oversees the Company’s privacy, information technology and security and cybersecurity risk exposures, including: (1) the potential impact of those exposures on the Company’s business, financial results, operations and reputation; (2) the programs and steps implemented by management to monitor and mitigate any exposures; (3) the Company’s information governance and information security policies and programs; and (4) major legislative and regulatory developments that could materially impact the Company’s privacy, data security and cybersecurity risk exposure. The Audit Committee receives quarterly updates from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team, including a detailed threat assessment relating to information technology and cybersecurity risks as well as short- and long-term plans to mitigate identified risks and invest in new technological solutions and resources to support our cybersecurity program. The Board also receives updates on cybersecurity matters from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team on at least an annual basis, with periodic updates provided as needed. The Audit Committee and the Board consider cybersecurity as part of the Company’s business strategy, financial planning, and capital allocation. Annually, we offer cybersecurity training programs to our Board. The cybersecurity trainings are designed to provide Board-level insight into cybersecurity strategy, leadership, and management in addition to organizational best practices to prepare, protect and respond against new and emerging cybersecurity risks and breaches.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Pursuant to its charter, the Audit Committee of the Board, which consists solely of independent directors and whose chair has cybersecurity experience, reviews, discusses with management, and oversees the Company’s privacy, information technology and security and cybersecurity risk exposures, including: (1) the potential impact of those exposures on the Company’s business, financial
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives quarterly updates from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team, including a detailed threat assessment relating to information technology and cybersecurity risks as well as short- and long-term plans to mitigate identified risks and invest in new technological solutions and resources to support our cybersecurity program. The Board also receives updates on cybersecurity matters from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team on at least an annual basis, with periodic updates provided as needed. The Audit Committee and the Board consider cybersecurity as part of the Company’s business strategy, financial planning, and capital allocation.
Cybersecurity Risk Role of Management [Text Block]	The Vice President, IT Security & Compliance, who reports directly to Senior Vice President, Information Technology, has a Bachelor of Science in Commerce, with concentrations in management information systems and marketing, and has over 30 years’ experience in all aspects of IT, including managing development, operations, cybersecurity, and other key areas. The Senior Vice President, Information Technology, has an Executive Technology Leadership Certificate in IT from Cornell University and has over 25 years of IT experience leading large-scale initiatives to enhance infrastructure and architecture based on emerging technologies and strategies. The Vice President, IT Security & Compliance and Senior Vice President, Information Technology, provide regular briefings to our senior management team on cybersecurity matters, including threats, events, and program enhancements. The Company also has a network of regional information technology directors stationed in each region where our resorts are located, who are integrated into the overall enterprise information technology security and compliance program. The Company references a recognized third-party cybersecurity framework to evaluate and manage cyber risk within the Company. We regularly benchmark against this framework and use the findings to develop and fine tune our cybersecurity roadmap for ongoing evolution and improvement. In the event of an incident which jeopardizes the confidentiality, integrity, or availability of our information technology systems, our information security and compliance team utilizes a regularly updated cybersecurity incident response plan (“IRP”). The IRP has been designed taking into account a third-party cybersecurity framework focused on properly containing, investigating, and fully eradicating an incident. Pursuant to that plan and its escalation protocols, designated personnel are responsible for assessing the severity of the incident and associated threat, containing and resolving the incident as quickly and efficiently as possible, mitigating damage to the Company’s systems and networks, minimizing impact on the Company’s stakeholders, analyzing and executing upon reporting obligations associated with the incident, and performing post-incident analysis and program improvements. While the particular personnel assigned to an incident response team, including specified external forensic investigators and advisors, will depend on the particular facts and circumstances, the response team is led by the Vice President, IT Security & Compliance or his delegee. The plan also designates responsibility to specified members of our senior management for Company disclosure determinations related to the incident. Pursuant to its charter, the Audit Committee of the Board, which consists solely of independent directors and whose chair has cybersecurity experience, reviews, discusses with management, and oversees the Company’s privacy, information technology and security and cybersecurity risk exposures, including: (1) the potential impact of those exposures on the Company’s business, financial
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Vice President, IT Security & Compliance and Senior Vice President, Information Technology, provide regular briefings to our senior management team on cybersecurity matters, including threats, events, and program enhancements. The Company also has a network of regional information technology directors stationed in each region where our resorts are located, who are integrated into the overall enterprise information technology security and compliance program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Vice President, IT Security & Compliance, who reports directly to Senior Vice President, Information Technology, has a Bachelor of Science in Commerce, with concentrations in management information systems and marketing, and has over 30 years’ experience in all aspects of IT, including managing development, operations, cybersecurity, and other key areas. The Senior Vice President, Information Technology, has an Executive Technology Leadership Certificate in IT from Cornell University and has over 25 years of IT experience leading large-scale initiatives to enhance infrastructure and architecture based on emerging technologies and strategies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee receives quarterly updates from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team, including a detailed threat assessment relating to information technology and cybersecurity risks as well as short- and long-term plans to mitigate identified risks and invest in new technological solutions and resources to support our cybersecurity program. The Board also receives updates on cybersecurity matters from the Company’s Senior Vice President, Information Technology, Vice President, IT, Security & Compliance, internal audit function, and/or other members of our executive leadership team on at least an annual basis, with periodic updates provided as needed. The Audit Committee and the Board consider cybersecurity as part of the Company’s business strategy, financial planning, and capital allocation.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Significant accounting polici_2

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of preparation, presentation and measurement	Basis of preparation, presentation and measurement Our Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Results for the comparative prior periods have been reclassified to conform to the current period presentation.
Principles of consolidation	Principles of consolidation
Use of estimates	Use of estimates The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. We evaluate our estimates and assumptions periodically. Estimates are based on historical experience and on other factors that are considered to be reasonable under the circumstances. Significant accounting policies that require us to exercise judgment or make significant estimates include the useful lives of property and equipment, income taxes (including the valuation allowance), commitments and contingencies, long-lived asset and goodwill impairment testing, fair value of restricted share awards with market conditions, fair value of financial instruments, and leases.
Financial instruments	Financial instruments
Foreign currency	Foreign currency Our reporting currency is the U.S. dollar. We have determined that the U.S. dollar is the functional currency of all of our international operations. Foreign currency denominated monetary asset and liability amounts are remeasured into U.S. dollars at end-of-period exchange rates. Foreign currency denominated non-monetary assets, such as inventories, prepaid expenses, fixed assets and intangible assets, are recorded in U.S. dollars at historical exchange rates. Foreign currency denominated income and expense items are recorded in U.S. dollars at the applicable daily exchange rates in effect during the relevant period. For purposes of calculating our tax liability in certain foreign jurisdictions, we index our depreciable tax bases in certain assets for the effects of inflation based upon statutory inflation factors. The effects of these indexation adjustments are reflected in income tax (provision) benefit in the Consolidated Statements of Operations. The remeasurement gains and losses related to deferred tax assets and liabilities are reported in the income tax (provision) benefit.
Property and equipment, net	Property and equipment, net Property and equipment are stated at historical cost less accumulated depreciation. The costs of improvements that extend the life of property and equipment, such as structural improvements, equipment and fixtures, are capitalized. In addition, we capitalize soft costs such as interest, insurance, construction administration and other costs that clearly relate to projects under development or construction. Start-up costs, ongoing repairs and maintenance are expensed as incurred. Buildings that are being developed or closed for substantial redevelopment are carried at cost and no depreciation is recorded on these assets until they are put into or back into service. The useful life of buildings under re-development is re-evaluated upon completion of the projects. Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate their cost to their residual values (if any) over their estimated useful lives, as follows: Buildings 5 to 50 years Fixtures and machinery 7 to 18 years Furniture and other fixed assets 4 to 12 years The assets’ estimated useful lives and residual values are reviewed at least annually, with the effect of any changes in estimates accounted for on a prospective basis.
Revenue recognition	Revenue recognition Revenue is recognized on an accrual basis when the rooms are occupied and services have been rendered. We primarily derive our revenue from the following sources: • Package revenue: Revenues derived from all-inclusive packages purchased by our guests, which include room accommodations and premium room upgrades, food and beverage services and entertainment activities, are included in the package revenue line item of the Consolidated Statements of Operations and are considered one performance obligation. Contract liabilities consist of advanced deposits received from customers which are deferred until the rooms are occupied and the services have been rendered. Advance deposits are included in trade and other payables in the Consolidated Balance Sheets. Revenue is measured at the fair value of the consideration received or receivable, stated net of estimated discounts, rebates, certain compulsory tips, and value-added taxes and recognized when our performance obligation of all-inclusive services is considered transferred to the customer. • Non-package revenue: Revenue associated with premium services and amenities that are not included in the all-inclusive package such as dining experiences, wines and spirits and spa packages which are included in the non-package revenue line item of the Consolidated Statements of Operations. Revenue is recognized based on the agreed upon price after the completion of the sale when the product or service is transferred to the customer, net of certain compulsory tips. Food and beverage revenue not included in a guest’s all-inclusive package is recognized when the goods are consumed. • Management fees: Revenue derived from resorts that we manage, typically under long-term contracts with the property owner. Management fees are typically composed of a base fee, which is computed as a percentage of resort revenue, and an incentive fee, which is computed as a percentage of resort profitability. We recognize revenue over the term of the service period as the third-party owners benefit from our management services. Revenue from management contracts is included in the management fees line item of the Consolidated Statements of Operations. • Cost reimbursements: Revenue derived from the reimbursement of certain costs incurred by Playa on behalf of resorts managed by Playa and owned by third parties. These revenues are fully offset by reimbursed costs and have no impact on net income or loss. Cost reimbursements are recognized when agreed upon reimbursable costs are incurred from managing resorts owned by third-parties and included in the cost reimbursements line item of the Consolidated Statements of Operations. • The Playa Collection revenue: Revenue derived from the fees paid to us from the third-party owned loyalty program, The Playa Collection. These fees typically consist of license fees to use the intellectual property to operate the program, marketing fees for the right to market and promote the program, and support fees for the cooperation and support from our personnel. We recognize license fee revenue based on a percentage of membership sales as they occur and marketing and support fee revenue when we have the right to invoice for services performed. Revenue is included in The Playa Collection line item of the Consolidated Statements of Operations. • Other revenues: Other operating revenues not included in the above categories, such as centralized service fees charged to third-party owners of the resorts we manage or contract termination fees. Revenue is recognized as our performance obligation of services is considered transferred to the customer. These revenues are included in the other revenues line item of the Consolidated Statements of Operations. Contract assets and liabilities We do not have any material contract assets as of December 31, 2024 and 2023 other than trade and other receivables on our Consolidated Balance Sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. We record contract liabilities when cash payments are received or due in advance of guests staying at our resorts, which are presented as advance deposits (see Note 16) within trade and other payables on our Consolidated Balance Sheets. Our advanced deposits are generally recognized as revenue within one year.
Income taxes	Income taxes We account for income taxes using the asset and liability method, under which we recognize deferred income taxes for the tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, as well as for tax loss carryforwards. For purposes of these Consolidated Financial Statements, our income tax (provision) benefit was calculated on a return basis as though we had filed our tax returns in the applicable jurisdictions in which we operate. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the new rate is enacted. We provide a valuation allowance against deferred tax assets if it is more likely than not that a portion will not be realized. In assessing whether it is more likely than not that deferred tax assets will be realized, we consider all available evidence, both positive and negative, including our recent cumulative earnings experience and expectations of future available taxable income of the appropriate character by taxing jurisdiction, tax attribute carryback and carryforward periods available to us for tax reporting purposes, and prudent and feasible tax planning strategies.
Commitments and contingencies	Commitments and contingencies
Ordinary shares and paid-in capital, Share repurchase program and treasury shares, and Dividends	Ordinary shares and paid-in capital Ordinary shares are classified as equity when there is no obligation to transfer cash or other assets to the respective holder. Incremental costs directly attributable to the issuance of ordinary shares are recognized as a reduction of equity, net of any tax effects. Share repurchase program and treasury shares From time to time, our board of directors (the “Board”) may authorize repurchases of our outstanding ordinary shares. Shares repurchased under Board-authorized repurchase programs are currently held in treasury for general corporate purposes. Treasury shares are accounted for on the trade date under the cost method and recorded as treasury shares on the Consolidated Balance Sheets as a reduction to shareholders' equity. Dividends We must comply with the provisions of Dutch law, our Articles of Association and the covenants in our Senior Secured Credit Facility (as defined in Note 12) if we want to pay cash dividends. We currently intend to retain any earnings for future operations and expansion. Any future determination to pay dividends will be at the discretion of our shareholders at our general meeting of shareholders (the “General Meeting”), subject to a proposal from our Board, and will depend on our actual and projected financial condition, liquidity and results of operations, capital requirements, prohibitions and other restrictions contained in current or future financing instruments and applicable law, and such other factors as our Board deems relevant.
Debt	Debt Debt is carried at amortized cost. Debt issuance costs and discounts incurred on debt are recorded in the Consolidated Balance Sheets as direct deductions to the principal and are amortized over the term of the debt under the effective interest rate method. Capitalized interest directly attributable to the acquisition, construction or production of qualifying assets, which are assets that take a substantial period of time to get ready for their intended use, is recognized as part of the cost of such assets until the time the assets are substantially ready for their intended use. Capitalized interest is subsequently recognized as depreciation expense in the Consolidated Statements of Operations once the assets are placed into service.
Derivative financial instruments	Derivative financial instruments Derivative financial instruments are initially recorded at fair value on the date on which a derivative contract is entered into and are subsequently remeasured to fair value at period end. Changes in the fair value of a derivative contract that is qualified, designated and highly effective as a cash flow hedge are recorded in total other comprehensive (loss) income in our Consolidated Statements of Comprehensive Income and reclassified into earnings in our Consolidated Statements of Operations in the same period or periods during which the hedged transaction occurs. If a derivative contract does not meet these criteria, then the total change in fair value is recognized in earnings. Cash flows from a derivative financial instrument that is classified as a cash flow hedge are recorded in the same category as the cash flows from the items being hedged in the Consolidated Statements of Cash Flows.
Goodwill	Goodwill Goodwill arises in connection with business combinations and is generally allocated to our reporting units, which are also our operating segments, based on their relative fair values. Goodwill is allocated to our Yucatán Peninsula and Jamaica reportable segments and is reviewed for impairment annually on July 1 st and October 1 st , respectively, or more frequently if events or changes in circumstances indicate a potential impairment. No goodwill impairment was recognized for the years ended December 31, 2024, 2023, and 2022. When evaluating goodwill for potential impairment, we are permitted to first assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If we cannot determine qualitatively that the fair value is in excess of the carrying value, or if we decide to bypass the qualitative assessment for any reporting unit in any period, we perform a quantitative analysis. The quantitative test is used to identify both the existence of impairment and the amount of the impairment loss by comparing the estimated fair value of the reporting unit to its carrying value, including goodwill. We generally estimate the fair value of a reporting unit using a combination of the discounted cash flow approach and the market multiple or market transaction approach. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to the excess, limited to the total amount of goodwill allocated to the reporting unit.
Other intangible assets	Other intangible assets
Cloud computing arrangements	Cloud computing arrangements We capitalize application development stage costs associated with cloud computing arrangements (CCAs). Capitalized implementation costs are included in prepayments and other assets in our Consolidated Balance Sheets. Amortization is calculated on a straight-line basis over the term of the hosting arrangement and is included in selling, general and administrative expenses in our Consolidated Statements of Operations.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are comprised of cash balances and highly liquid cash deposits with maturities at the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. We classify these cash instruments as Level 1. Financial instruments that potentially subject us to a concentration of credit risk consist of cash on deposit at financial institutions where the deposits are either uninsured or in excess of insured limits and money market fund balances. Substantially all of our cash is held by financial institutions that we believe are of high-credit quality.
Restricted cash	Restricted cash
Trade and other receivables, net	Trade and other receivables, net Trade and other receivables include amounts due from guests, tour operators, travel agents and other vendors for merchandise sold or services performed in the ordinary course of business as well as other miscellaneous receivables. Collection of these amounts is expected in one year or less. When necessary, the carrying amount of our receivables is reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. When a trade receivable is considered uncollectible, it is written off against the allowance for doubtful accounts. Subsequent recoveries of amounts previously written off are credited against the allowance accounts. Changes in the carrying amount of the allowance for doubtful accounts are recognized as bad debt expense within selling, general and administrative expenses in the Consolidated Statements of Operations.
Inventories	Inventories Inventories consist of food, beverages and other items related to consumption and are valued at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method, not to exceed the market value.
Advertising costs	Advertising costs
Share-based compensation	Share-based compensation We have an equity incentive plan that provides for the grant of share options, share appreciation rights, restricted shares, share units, unrestricted shares, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards, and cash bonus awards. We recognized share-based compensation based on the following scenarios: • Awards vesting with the passage of time: Share-based compensation is measured at the fair value of the award on the date of grant and recognized as an expense on a straight-line basis over the vesting period. • Awards vesting with market conditions: The market conditions are incorporated into the fair value measurement and recognized as an expense on a straight-line basis over the vesting period. The compensation expense is not adjusted if the conditions are not met. The determination of fair value on the date of grant is subjective and involves significant estimates and assumptions including expected volatility of our shares, expected dividend yield, expected term and assumptions of whether these awards will achieve performance thresholds. The effects of forfeitures are recognized in compensation expense when they occur.
Leases	Leases We determine if an arrangement is a lease or contains a lease at the inception of the contract. Our leases generally contain fixed and variable components. The variable components of our leases are primarily based on operating performance of the leased property. Our lease agreements may also include non-lease components, such as common area maintenance. For our fixtures and machinery asset class, we combine the lease and non-lease components. For all other classes of underlying assets, we do not combine lease and non-lease components. We treat individual lease components that are highly interdependent and highly interrelated as a single lease component. Lease liabilities, which represent our obligation to make lease payments arising from the lease, and corresponding right-of-use assets, which represent our right to use an underlying asset for the lease term, are recognized at the commencement date of the lease based on the present value of future payments over the lease term. We calculate the present value of future payments using the discount rate implicit in the lease, if available, or our incremental borrowing rate. For operating leases, lease expense relating to fixed payments is recognized on a straight-line basis over the lease term and lease expense relating to variable payments is expensed as incurred. Operating lease expense is reported in direct expense or selling, general and administrative expense in the Consolidated Statements of Operations depending on the nature of the lease. For finance leases, the amortization of the asset is recognized over the shorter of the lease term or useful life of the underlying asset. However, if the lessor transfers ownership of the finance lease right-of-use asset to us at the end of the lease term, the finance lease right-of-use asset is amortized over the useful life of the leased asset. Amortization expense is recorded within depreciation and amortization in the Consolidated Statements of Operations. Interest expense is incurred based on the carrying value of the lease liability and is recorded within interest expense in the Consolidated Statements of Operations.
Assets and liabilities held for sale	Assets and liabilities held for sale We classify resorts as held for sale when the sale is probable, will be completed within one year and actions to complete the sale are unlikely to change or it is unlikely that the sale will not occur. This is consistent with our experience with real estate transactions under which the timing and final terms of a sale are frequently not known until all the following conditions are met: • our Board has approved the sale (to the extent that the dollar amount of the sale requires Board approval); • a binding agreement to sell the resort has been signed under which the buyer has committed a significant deposit or amount of nonrefundable cash; and • no significant financing contingencies exist that could prevent the transaction from being completed in a timely manner. If these criteria are met, we will cease recording depreciation expense, record an impairment loss to the extent the carrying amount of the resort exceeds the fair value and classify the assets and related liabilities as held for sale on the Consolidated Balance Sheets. Assets and related liabilities classified as held for sale are measured at the lower of their carrying value or fair value less costs to sell. Gains or losses on sales are recognized at the time of sale.
Accounting standards	Accounting standards The following table provides a brief description of recent accounting pronouncements (Accounting Standards Update or “ASU”) issued by the Financial Accounting Standards Board (“FASB”) that are applicable to us: Standards adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. December 2024 The adoption of ASU No. 2023-07 resulted in enhanced segment disclosures, including significant segment expense categories, in the notes to our Consolidated Financial Statements for the year ended December 31, 2024. Standards not yet adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments in this update require that public business entities on an annual basis (i) disclose specific categories in the rate reconciliation and (ii) provide additional information for reconciling items that meet a quantitative threshold. Annual periods beginning after December 15, 2024 We are in the process of evaluating the impact of ASU No. 2023-09 on the Consolidated Financial Statements. ASU. No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses The amendments in this update require that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. Annual periods beginning after December 15, 2026 We are in the process of evaluating the impact of ASU No. 2024-03 on the Consolidated Financial Statements.

Significant accounting polici_3

Significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Property and Equipment, Estimated Useful Lives	Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate their cost to their residual values (if any) over their estimated useful lives, as follows: Buildings 5 to 50 years Fixtures and machinery 7 to 18 years Furniture and other fixed assets 4 to 12 years The balance of property and equipment, net is as follows ($ in thousands ): As of December 31, 2024 2023 Property and equipment, gross Land, buildings and improvements $ 1,560,093 $ 1,646,452 Fixtures and machinery (1) 97,837 86,717 Furniture and other fixed assets 197,928 203,639 Construction in progress 77,100 22,077 Total property and equipment, gross 1,932,958 1,958,885 Accumulated depreciation (558,628) (543,313) Total property and equipment, net $ 1,374,330 $ 1,415,572 ________ (1) Includes the gross balance of our finance lease right-of-use assets, which was $18.2 million and $6.3 million as of December 31, 2024 and 2023, respectively (see Note 8). Amortization expense for our finance lease assets was $1.7 million, $0.5 million and $0.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The following table provides a brief description of recent accounting pronouncements (Accounting Standards Update or “ASU”) issued by the Financial Accounting Standards Board (“FASB”) that are applicable to us: Standards adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. December 2024 The adoption of ASU No. 2023-07 resulted in enhanced segment disclosures, including significant segment expense categories, in the notes to our Consolidated Financial Statements for the year ended December 31, 2024. Standards not yet adopted Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments in this update require that public business entities on an annual basis (i) disclose specific categories in the rate reconciliation and (ii) provide additional information for reconciling items that meet a quantitative threshold. Annual periods beginning after December 15, 2024 We are in the process of evaluating the impact of ASU No. 2023-09 on the Consolidated Financial Statements. ASU. No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses The amendments in this update require that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. Annual periods beginning after December 15, 2026 We are in the process of evaluating the impact of ASU No. 2024-03 on the Consolidated Financial Statements.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present our revenues disaggregated by geographic segment (refer to discussion of our reportable segments in Note 17) ( $ in thousands) : Year Ended December 31, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 288,910 $ 111,349 $ 224,851 $ 171,377 $ — $ 796,487 Non-package revenue 39,363 18,184 33,396 27,697 — 118,640 The Playa Collection — — — — 5,949 5,949 Management fees 158 — — — 5,990 6,148 Cost reimbursements — — — 3,910 5,963 9,873 Other revenues — — — — 1,472 1,472 Total revenue $ 328,431 $ 129,533 $ 258,247 $ 202,984 $ 19,374 $ 938,569 Year Ended December 31, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 280,544 $ 127,830 $ 218,309 $ 197,439 $ — $ 824,122 Non-package revenue 35,490 17,675 35,843 32,414 — 121,422 The Playa Collection — — — — 3,642 3,642 Management fees 152 — — — 6,878 7,030 Cost reimbursements — — — 4,947 7,528 12,475 Other revenues — — — — 8,813 8,813 Total revenue $ 316,186 $ 145,505 $ 254,152 $ 234,800 $ 26,861 $ 977,504 Year Ended December 31, 2022 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 251,788 $ 116,172 $ 197,440 $ 157,975 $ — $ 723,375 Non-package revenue 36,244 15,493 33,689 31,176 — 116,602 The Playa Collection — — — — 1,752 1,752 Management fees 137 — — — 3,691 3,828 Cost reimbursements — — — 4,487 5,219 9,706 Other revenues — — — — 1,000 1,000 Total revenue $ 288,169 $ 131,665 $ 231,129 $ 193,638 $ 11,662 $ 856,263

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate their cost to their residual values (if any) over their estimated useful lives, as follows: Buildings 5 to 50 years Fixtures and machinery 7 to 18 years Furniture and other fixed assets 4 to 12 years The balance of property and equipment, net is as follows ($ in thousands ): As of December 31, 2024 2023 Property and equipment, gross Land, buildings and improvements $ 1,560,093 $ 1,646,452 Fixtures and machinery (1) 97,837 86,717 Furniture and other fixed assets 197,928 203,639 Construction in progress 77,100 22,077 Total property and equipment, gross 1,932,958 1,958,885 Accumulated depreciation (558,628) (543,313) Total property and equipment, net $ 1,374,330 $ 1,415,572 ________ (1) Includes the gross balance of our finance lease right-of-use assets, which was $18.2 million and $6.3 million as of December 31, 2024 and 2023, respectively (see Note 8). Amortization expense for our finance lease assets was $1.7 million, $0.5 million and $0.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Net Income Before Tax	Net income before tax is summarized below ($ in thousands) : Year Ended December 31, 2024 2023 2022 Domestic $ 3,772 $ 11,471 $ 1,896 Foreign 77,994 54,095 49,257 Net income before tax $ 81,766 $ 65,566 $ 51,153
Schedule of Components of Income Tax Benefit (Provision)	The components of our income tax (provision) benefit for the years ended December 31, 2024, 2023 and 2022 were as follows ($ in thousands) : Year Ended December 31, 2024 2023 2022 Current Domestic $ (208) $ (440) $ — Foreign (16,151) (14,305) (1,243) Total current income tax provision (16,359) (14,745) (1,243) Deferred Domestic (790) (2,471) 5,333 Foreign 9,196 5,502 1,463 Total deferred income tax benefit 8,406 3,031 6,796 Income tax (provision) benefit $ (7,953) $ (11,714) $ 5,553
Schedule of Reconciliation of Netherlands Statutory Federal Income Tax Rate to Our Effective Income Tax Rate	A reconciliation of the Netherlands statutory income tax rate to our effective income tax rate from continuing operations is as follows ($ in thousands) : Year Ended December 31, 2024 2023 2022 Income tax provision at statutory rate (21,096) 25.8 % $ (16,917) 25.8 % $ (13,197) 25.8 % Differences between statutory rate and foreign rates 27,191 (33.3) % 51,940 (79.2) % 31,490 (61.6) % Inflation adjustments 4,175 (5.1) % 2,661 (4.1) % 10,106 (19.8) % Nondeductible expenses (3,731) 4.6 % (11,742) 17.9 % (5,202) 10.2 % Foreign exchange rate differences 393 (0.5) % (5,049) 7.7 % (3,570) 7.0 % Capital gains 4,674 (5.7) % (12,044) 18.4 % — — % Global Minimum Tax (14,010) 17.1 % — — % — — % Change in valuation allowance (6,901) 8.4 % (21,367) 32.6 % (13,941) 27.3 % Other 1,352 (1.6) % 804 (1.2) % (133) 0.3 % Income tax (provision) benefit $ (7,953) 9.7 % $ (11,714) 17.9 % $ 5,553 (10.8) %
Schedule of Deferred Tax Assets and Liabilities	The tax effect of each type of temporary difference and carry-forward that gives rise to a significant portion of our deferred tax assets and liabilities as of December 31, 2024 and 2023 were as follows ($ in thousands) : As of December 31, 2024 2023 Deferred tax assets Advance customer deposits $ 2,273 $ 3,687 Trade payables and other accruals 9,479 5,711 Labor liability accrual 1,764 1,562 Lease obligation 820 999 Interest expense 106,406 97,034 Other assets — 2,667 Net operating losses 137,424 149,190 Total deferred tax asset 258,166 260,850 Valuation allowance (223,694) (222,650) Net deferred tax asset 34,472 38,200 Deferred tax liabilities Accounts receivable and prepayments to vendors 861 771 Property and equipment 71,933 87,524 Other liabilities 5,119 1,753 Total deferred tax liability 77,913 90,048 Net deferred tax liability $ (43,441) $ (51,848)
Schedule of Change in Valuation Allowance	The change in the valuation allowance established against our deferred tax assets for the years ended December 31, 2024, 2023 and 2022 is summarized in the following table ($ in thousands) : Balance at January 1 Additions Deductions Balance at December 31, 2024 $ (222,650) $ (8,774) $ 7,730 $ (223,694) December 31, 2023 $ (177,817) $ (57,179) $ 12,346 $ (222,650) December 31, 2022 $ (160,104) $ (29,728) $ 12,015 $ (177,817)

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Transactions between us and related parties during the years ended December 31, 2024, 2023 and 2022 were as follows ( $ in thousands ): Year Ended December 31, Related Party Transaction 2024 2023 2022 Revenues ALG Package revenue $ — $ — $ 18,074 Sagicor Cost reimbursements (1) $ 3,910 $ 5,087 $ 5,113 Expenses Hyatt Franchise fees (2) $ 36,032 $ 35,562 $ 29,774 Sagicor Insurance premiums (2) $ 1,641 $ 1,489 $ 1,131 Chief Executive Officer Lease expense (3) $ 640 $ 687 $ 786 DKCM Interest expense (4) $ — $ — $ 27,425 DKCM Early termination and other fees (5) $ — $ — $ 5,226 AMResorts Management fees (2) $ — $ 41 $ 3,279 AMResorts Marketing fees (3) $ — $ 37 $ 3,702 ________ (1) Equivalent amount included as reimbursed costs in the Consolidated Statements of Operations. (2) Included in direct expense in the Consolidated Statements of Operations with the exception of certain immaterial fees associated with the Hyatt franchise agreements, which are included in selling, general, and administrative expense. (3) Included in selling, general, and administrative expense in the Consolidated Statements of Operations. (4) Includes interest expense and amortization of deferred financing costs and discounts incurred through the date the Property Loan and Additional Credit Facility were repaid, as well as $6.3 million of unamortized deferred financing costs and discounts which were written off and included in loss on extinguishment of debt in the Consolidated Statements of Operations for the year ended December 31, 2022. (5) Included in loss on extinguishment of debt in the Consolidated Statements of Operations.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Minimum Future Operating Lease Payments	Our future minimum lease payments as of December 31, 2024 were as follows ($ in thousands) : Operating Leases Finance Leases Minimum future lease payments 2025 $ 1,193 $ 2,201 2026 1,204 2,348 2027 1,214 2,382 2028 1,032 2,417 2029 947 2,452 Thereafter 1,964 15,757 Total minimum future lease payments 7,554 27,557 Less: imputed interest (1,350) (10,328) Total lease liability (1) $ 6,204 $ 17,229 ________ (1) Operating and finance lease liabilities are included in other liabilities debt
Schedule of Minimum Future Finance Lease Payments	Our future minimum lease payments as of December 31, 2024 were as follows ($ in thousands) : Operating Leases Finance Leases Minimum future lease payments 2025 $ 1,193 $ 2,201 2026 1,204 2,348 2027 1,214 2,382 2028 1,032 2,417 2029 947 2,452 Thereafter 1,964 15,757 Total minimum future lease payments 7,554 27,557 Less: imputed interest (1,350) (10,328) Total lease liability (1) $ 6,204 $ 17,229 ________ (1) Operating and finance lease liabilities are included in other liabilities debt
Components of Lease Expense and Supplemental Information	The following table presents the components of lease expense and supplemental cash flow information ($ in thousands) : Year Ended December 31, 2024 2023 2022 Lease expense (1) $ 3,002 $ 3,394 $ 2,319 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 786 $ 661 $ 825 Operating cash outflows for finance leases $ 650 $ 413 $ 443 Financing cash outflows for finance leases $ 596 $ 436 $ 400 ________ (1) Includes variable and short-term lease expenses. The following table presents other relevant information related to our leases as of December 31, 2024: Operating Leases Finance Leases Weighted-average remaining lease term 6.79 years 12.90 years Weighted-average discount rate 5.98 % 8.29 %
Schedule of Rental Income	The following table presents our rental income for the years ended December 31, 2024, 2023 and 2022 ($ in thousands) : Year Ended December 31, Leases Financial Statement Classification 2024 2023 2022 Operating lease income (1) Non-package revenue $ 3,955 $ 4,040 $ 4,197 ________ (1) Includes variable lease revenue, which is typically calculated as a percentage of our tenant's net sales.

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Restricted Share Awards	A summary of our restricted share awards from January 1, 2024 to December 31, 2024 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Unvested balance at January 1, 2024 2,733,532 $ 6.84 Granted 1,456,506 8.03 Vested (1,417,634) 6.61 Forfeited (45,077) 7.49 Unvested balance at December 31, 2024 2,727,327 $ 7.58
Summary of Additional Information on Restricted Share Awards and Performance Share Awards	The following table provides additional information on our restricted share awards for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share data) : Year Ended December 31, 2024 2023 2022 Weighted-average grant date fair value $ 8.03 $ 6.77 $ 8.20 Fair value of vested restricted share awards $ 11,681 $ 7,260 $ 13,086 Share-based compensation expense $ 9,974 $ 9,130 $ 8,665 The following table provides additional information on our performance share awards for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share data) : Year Ended December 31, 2024 2023 2022 Weighted-average grant date fair value $ 7.39 $ 6.88 $ 8.10 Fair value of vested performance share awards $ 9,528 $ — $ 130 Share-based compensation expense $ 4,935 $ 4,077 $ 3,227
Summary of Key Inputs Used in Monte-Carlo Simulation	The table below summarizes the key inputs used in the Monte-Carlo simulation ($ in thousands) : Performance Award Grant Date Percentage of Total Award Grant Date Fair Value by Component Volatility (1) Interest Rate (2) Dividend Yield January 4, 2022 Peer Shareholder Return 50 % $ 1,689 67.79 % 1.01 % — % Growth Rate 50 % $ 1,346 67.79 % 1.01 % — % January 18, 2023 Peer Shareholder Return 50 % $ 2,751 71.82 % 3.70 % — % Growth Rate 50 % $ 2,194 71.82 % 3.70 % — % January 17, 2024 Peer Shareholder Return 50 % $ 2,915 39.05 % 4.09 % — % Growth Rate 50 % $ 2,066 39.05 % 4.09 % — % February 8, 2024 Growth Rate 100 % $ 4,369 38.21 % 4.20 % — % ________ (1) Expected volatility was determined based on Playa's historical share prices. (2) The risk-free rate was based on U.S. Treasury zero coupon issues with a remaining term equal to the remaining term of the measurement period.
Summary of Performance Share Awards	A summary of our performance share awards from January 1, 2024 to December 31, 2024 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Unvested balance at January 1, 2024 2,048,350 $ 6.34 Granted 1,509,519 7.39 Vested (1,174,808) 5.38 Forfeited (24,130) 6.01 Unvested balance at December 31, 2024 2,358,931 $ 7.35

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted EPS	Basic and diluted earnings or loss per share (“EPS”) were as follows ( $ in thousands, except share data ): Year Ended December 31, 2024 2023 2022 Numerator Net income $ 73,813 $ 53,852 $ 56,706 Denominator Denominator for basic EPS - weighted-average number of shares outstanding 129,737,022 148,063,358 164,782,886 Effect of dilutive securities Unvested performance share awards 866,009 1,268,736 546,790 Unvested restricted share awards 918,495 977,580 748,126 Denominator for diluted EPS - adjusted weighted-average number of shares outstanding 131,521,526 150,309,674 166,077,802 EPS - Basic $ 0.57 $ 0.36 $ 0.34 EPS - Diluted $ 0.56 $ 0.36 $ 0.34

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt Components and Covenants	Our debt consists of the following as of December 31, 2024 and 2023 ($ in thousands) : Outstanding Balance as of Interest Rate Maturity Date December 31, 2024 December 31, 2023 Senior Secured Credit Facilities Revolving Credit Facility (1) SOFR + 3.50% January 5, 2028 $ — $ — Term Loan due 2029 (2) SOFR + 2.75% (3) January 5, 2029 1,078,000 1,089,000 Total Senior Secured Credit Facilities (at stated value) 1,078,000 1,089,000 Unamortized discount (20,687) (26,466) Unamortized debt issuance costs (4,999) (6,380) Total Senior Secured Credit Facilities, net $ 1,052,314 $ 1,056,154 Finance lease obligations (4) $ 17,229 $ 5,222 Total debt, net $ 1,069,543 $ 1,061,376 _______ (1) We had an available balance on our Revolving Credit Facility of $225.0 million as of December 31, 2024 and 2023. (2) The effective interest rate for the Term Loan due 2029 was 7.11% and 8.59% as of December 31, 2024 and 2023, respectively. (3) As of December 31, 2023, the Term Loan due 2029 bore interest at SOFR + 3.25%. (4) Interest expense for our finance leases was $1.3 million, $0.4 million and $0.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. We were in compliance with all applicable covenants as of December 31, 2024. A summary of our applicable covenants and restrictions is as follows: Debt Covenant Terms Senior Secured Credit Facility We are subject to a total net leverage ratio of 5.20x if we have more than 35% drawn on the Revolving Credit Facility.
Schedule of Aggregate Debt Maturities	Aggregate debt maturities for future annual periods are as follows ($ in thousands) : As of December 31, 2024 Term Loan due 2029 2025 $ 11,000 2026 11,000 2027 11,000 2028 11,000 2029 1,034,000 Thereafter — Total debt maturities $ 1,078,000

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	Our interest rate swaps outstanding during the years ended December 31, 2024, 2023, and 2022 are as follows: Notional Amount Interest Rate Received Fixed Rate Paid Effective Date Maturity Date Designated as Cash Flow Hedges $275 million One-month SOFR 4.05% April 15, 2023 April 15, 2025 $275 million One-month SOFR 3.71% April 15, 2023 April 15, 2026 Not Designated as Hedging Instrument (1) $800 million One-month LIBOR 2.85% March 29, 2018 March 31, 2023 ________ (1) Our LIBOR-based interest rate swaps were designated as cash flow hedges in March 2019, but were deemed ineffective in February 2020 due to the decrease in interest rates.
Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Comprehensive Loss and Condensed Consolidated Statements of Operations Operations	The following tables present the effect of our derivative financial instruments, net of tax, in the Consolidated Statements of Comprehensive Income and Consolidated Statements of Operations for the years ended December 31, 2024, 2023, and 2022 ($ in thousands) : Year Ended December 31, 2024 2023 2022 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Interest rate swaps Change in fair value $ (6,050) $ 16,721 $ (7,890) $ — Reclassification from AOCI to interest expense $ 7,203 $ (4,139) $ 2,416 $ (11,737) ________ (1) Amounts are reclassified from AOCI to interest expense. As of December 31, 2024, the total amount of net gains expected to be reclassified during the next twelve months is $1.3 million. (2) Amounts are reclassified from AOCI to direct expenses. As of December 31, 2024, the total amount of net losses expected to be reclassified during the next twelve months is $12.6 million. Derivative Financial Instruments Financial Statement Classification Year Ended December 31, 2024 2023 2022 Designated as Cash Flow Hedges Interest rate swaps Interest expense $ (7,203) $ (5,300) $ — Foreign currency forwards Direct expenses $ 5,253 $ — $ — Not Designated as Hedging Instruments Interest rate swaps (1) Interest expense $ — $ 3,013 $ (4,948) ________ (1) Includes the (gain) or loss from the change in fair value of our interest rate swaps and the cash interest paid or received for the monthly settlements of the derivative.
Schedule of Location and Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheet	The following table presents the effect of our interest rate swaps in the Consolidated Balance Sheets as of December 31, 2024 and 2023 ($ in thousands) : Derivative Financial Instruments Financial Statement Classification As of December 31, 2024 2023 Designated as Cash Flow Hedges Interest rate swap Derivative financial assets $ 1,672 $ 2,966 Foreign currency forwards Derivative financial liabilities $ 12,581 $ —

Fair value of financial instr_2

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis	The following tables present our fair value hierarchy for our financial instruments measured at fair value on a recurring basis as of December 31, 2024 and 2023 ($ in thousands) : Financial Assets December 31, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 1,672 $ — $ 1,672 $ — Financial Liabilities December 31, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Foreign currency forwards $ 12,581 $ — $ 12,581 $ — Financial Assets December 31, 2023 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 2,966 $ — $ 2,966 $ —
Schedule of Financial Liabilities Not Measured at Fair Value	The following tables present our fair value hierarchy for our financial liabilities not measured at fair value as of December 31, 2024 and 2023 ($ in thousands) : Carrying Value Fair Value As of December 31, 2024 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,052,314 $ — $ — $ 1,079,490 Total liabilities $ 1,052,314 $ — $ — $ 1,079,490 Carrying Value Fair Value As of December 31, 2023 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,056,154 $ — $ — $ 1,097,081 Total liabilities $ 1,056,154 $ — $ — $ 1,097,081
Schedule of Valuation Techniques	The following table summarizes the valuation techniques used to estimate the fair value of our financial instruments measured at fair value on a recurring basis and our financial instruments not measured at fair value: Valuation Technique Financial instruments recorded at fair value Foreign currency forwards The fair value of the foreign currency forwards is estimated based on the expected future cash flows by incorporating the notional amount of the forward contract, the maturity date of the contract, and observable inputs including spot rates, forward rates, and interest rate curves (including discount factors). The fair value also incorporates credit valuation adjustments to appropriately reflect nonperformance risk. The fair value is largely dependent on prevailing foreign currency forward rates as of the measurement date and maturing on the maturity dates of any existing forwards. If, in subsequent periods, any prevailing foreign currency forward rate differs from the corresponding contracted foreign currency rate, we will recognize a gain or loss. Interest rate swaps The fair value of the interest rate swaps is estimated based on the expected future cash flows by incorporating the notional amount of the swaps, the contractual period to maturity, and observable market-based inputs, including interest rate curves. The fair value also incorporates credit valuation adjustments to appropriately reflect nonperformance risk. The fair value of our interest rate swaps is largely dependent on forecasted SOFR as of the measurement date. If, in subsequent periods, forecasted SOFR exceeds the fixed rates we pay on our interest rate swaps, we will recognize a gain and future cash inflows. Conversely, if forecasted SOFR falls below the fixed rates we pay on our interest rate swaps in subsequent periods, we will recognize a loss and future cash outflows. Financial instruments not recorded at fair value Term Loan due 2029 The fair value of our Term Loan due 2029 is estimated using cash flow projections over the remaining contractual period by applying market forward rates and discounting back at the appropriate discount rate. Revolving Credit Facility The valuation technique of our Revolving Credit Facility is consistent with our Term Loan due 2029. The fair value of the Revolving Credit Facility generally approximates its carrying value as the expected term is significantly shorter in duration.

Employee benefit plan (Tables)

Employee benefit plan (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Pension Obligation, Funded Status and Accumulated Pension Obligation	The following table sets forth our pension obligation, funded status and accumulated pension obligation as of December 31, 2024 and 2023 ( $ in thousands ): As of December 31, 2024 2023 Change in pension obligation Balance at beginning of period $ 9,980 $ 7,777 Service cost 1,217 1,161 Interest cost 775 819 Actuarial (gain) loss (3,569) 43 Effect of foreign exchange rates (1,565) 1,213 Curtailment (118) — Benefits paid (1,292) (1,033) Balance at end of period $ 5,428 $ 9,980 Underfunded status (5,428) (9,980) Accumulated pension obligation $ (4,322) $ (7,483)
Schedule of Net Periodic Pension Cost	The following table presents the components of net periodic pension cost for the years ended December 31, 2024, 2023, and 2022 ($ in thousands) : Year Ended December 31, 2024 2023 2022 Service cost $ 1,217 $ 1,161 $ 857 Interest cost 775 819 517 Effect of foreign exchange rates (1,565) 1,213 431 Compensation-non-retirement post-employment benefits (48) 183 237 Settlement and curtailment gain (571) (62) (82) Other (69) 18 1 Total net periodic pension (benefit) cost $ (261) $ 3,332 $ 1,961
Schedule of Weighted-Average Assumptions Used to Determine Pension Obligation	The weighted-average assumptions used to determine the pension obligation as of December 31, 2024 and 2023 and the net periodic pension cost for the years ended December 31, 2024, 2023, and 2022 were as follows: As of December 31, 2024 2023 2022 Discount rate 10.50 % 9.70 % 9.22 % Rate of compensation increase 4.79 % 4.79 % 4.79 %
Schedule of Expected Plan Payments	The following table represents our expected plan payments for the next five years and thereafter ( $ in thousands ): As of December 31, 2024 2025 $ 841 2026 842 2027 881 2028 910 2029 948 Thereafter 3,882 Total expected plan payments $ 8,304

Other balance sheet items (Tabl

Other balance sheet items (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Trade and Other Receivables, Net and Change in Allowance for Doubtful Accounts	The following summarizes the balances of trade and other receivables, net as of December 31, 2024 and 2023 ($ in thousands): As of December 31, 2024 2023 Gross trade and other receivables (1) $ 68,226 $ 75,051 Allowance for doubtful accounts (1,269) (289) Total trade and other receivables, net $ 66,957 $ 74,762 ________ (1) The opening balance as of January 1, 2023 was $63.4 million. The change in the allowance for doubtful accounts for the years ended December 31, 2024, 2023, and 2022 is summarized in the following table ($ in thousands) : Balance at January 1 Additions Deductions (1) Balance at December 31 December 31, 2024 $ (289) $ (2,282) $ 1,302 $ (1,269) December 31, 2023 $ (450) $ (375) $ 536 $ (289) December 31, 2022 $ (1,940) $ (656) $ 2,146 $ (450) ________ (1) Includes reversals of our bad debt expense and write-offs of our allowance for doubtful accounts.
Schedule of Prepayments and Other Assets	The following summarizes the balances of prepayments and other assets as of December 31, 2024 and 2023 ($ in thousands) : As of December 31, 2024 2023 Advances to suppliers $ 15,383 $ 18,213 Prepaid income taxes 10,513 11,510 Prepaid other taxes (1) 8,444 5,641 Operating lease right-of-use assets 5,681 6,426 Key money 6,684 6,475 Other assets 8,360 6,029 Total prepayments and other assets $ 55,065 $ 54,294 ________ (1) Includes recoverable value-added tax, general consumption tax, and other sales tax accumulated by our Mexico, Jamaica, Dutch and Dominican Republic entities.
Schedule of Goodwill	The gross carrying values and accumulated impairment losses of goodwill by reportable segment (refer to discussion of our reportable segments in Note 17) as of December 31, 2024 and 2023 were as follows ($ in thousands): Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Total Gross carrying value $ 51,731 $ — $ — $ 33,879 $ 85,610 Accumulated impairment losses (6,168) — — (18,800) (24,968) Net carrying value $ 45,563 $ — $ — $ 15,079 $ 60,642
Schedule of Other Intangible Assets, Finite-Lived	Other intangible assets as of December 31, 2024 and 2023 consisted of the following ( $ in thousands ): As of December 31, 2024 2023 Gross carrying value Casino and other licenses (1) $ — $ 607 Management contract 1,900 1,900 Enterprise resource planning system (2) 6,352 6,352 Other 1,755 4,674 Total gross carrying value 10,007 13,533 Accumulated amortization Management contract (618) (523) Enterprise resource planning system (2) (6,008) (4,349) Other (1,290) (4,304) Total accumulated amortization (7,916) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,282 1,377 Enterprise resource planning system (2) 344 2,003 Other 465 370 Total net carrying value $ 2,091 $ 4,357 ________ (1) Our casino licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization. (2) Represents software development costs incurred to develop and implement SAP as our integrated enterprise resource planning system. Associated costs are being amortized over a weighted-average amortization period of 4 years.
Schedule of Other Intangible Assets, Indefinite-Lived	Other intangible assets as of December 31, 2024 and 2023 consisted of the following ( $ in thousands ): As of December 31, 2024 2023 Gross carrying value Casino and other licenses (1) $ — $ 607 Management contract 1,900 1,900 Enterprise resource planning system (2) 6,352 6,352 Other 1,755 4,674 Total gross carrying value 10,007 13,533 Accumulated amortization Management contract (618) (523) Enterprise resource planning system (2) (6,008) (4,349) Other (1,290) (4,304) Total accumulated amortization (7,916) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,282 1,377 Enterprise resource planning system (2) 344 2,003 Other 465 370 Total net carrying value $ 2,091 $ 4,357 ________ (1) Our casino licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization. (2) Represents software development costs incurred to develop and implement SAP as our integrated enterprise resource planning system. Associated costs are being amortized over a weighted-average amortization period of 4 years.
Schedule of Amortization Expense Relating to Intangible Assets with Finite Lives	Amortization expense for our intangible assets with finite lives is expected to be as follows ( $ in thousands ): As of December 31, 2024 2025 $ 641 2026 189 2027 175 2028 135 2029 119 Thereafter 832 Total future amortization expense $ 2,091
Schedule of Trade and Other Payables	The following summarizes the balances of trade and other payables as of December 31, 2024 and 2023 ($ in thousands) : As of December 31, 2024 2023 Trade payables $ 22,684 $ 25,929 Advance deposits (1) 71,044 80,506 Withholding and other taxes payable 11,188 15,164 Interest payable — 2,603 Payroll and related accruals 26,039 31,466 Accrued expenses and other payables (2) 23,622 40,764 Total trade and other payables $ 154,577 $ 196,432 ________ (1) The opening balance as of January 1, 2023 was $83.3 million. (2)
Schedule of Other Liabilities	The following summarizes the balances of other liabilities ($ in thousands) : As of December 31, 2024 2023 Pension obligation $ 5,428 $ 9,980 Operating lease liabilities 6,204 6,973 Unfavorable ground lease liability 1,639 1,748 Key money 13,300 14,331 Other 941 938 Total other liabilities $ 27,512 $ 33,970

Business segments (Tables)

Business segments (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents segment Owned Net Revenue, defined as total revenue less compulsory tips paid to employees, cost reimbursements, management fees, The Playa Collection revenue, and other miscellaneous revenue not derived from segment operations, and a reconciliation to total revenue for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Owned Net Revenue Yucatán Peninsula $ 317,590 $ 306,259 $ 280,161 Pacific Coast 125,742 141,582 128,210 Dominican Republic 257,895 253,700 230,972 Jamaica 189,619 219,903 180,318 Total Owned Net Revenue 890,846 921,444 819,661 Other 1,472 8,813 1,000 Management fees 6,148 7,030 3,828 The Playa Collection 5,949 3,642 1,752 Cost reimbursements 9,873 12,475 9,706 Compulsory tips 24,281 24,100 20,316 Total revenue $ 938,569 $ 977,504 $ 856,263 The following tables present significant segment expenses for each of our reportable segments and a reconciliation from Owned Net Revenue to Owned Resort EBITDA for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 317,590 $ 125,742 $ 257,895 $ 189,619 Less: Salaries and wages 71,151 27,138 41,202 33,536 Food and beverage 28,412 10,660 28,836 23,540 Utilities 11,162 4,640 15,313 11,951 Franchise and license fees 16,914 7,992 14,878 9,207 Sales and marketing 23,423 9,446 11,055 9,179 Property insurance 9,791 4,525 8,828 6,839 Other segment items (1) 47,085 18,545 38,716 44,044 Owned Resort EBITDA $ 109,652 $ 42,796 $ 99,067 $ 51,323 Year Ended December 31, 2023 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 306,259 $ 141,582 $ 253,700 $ 219,903 Less: Salaries and wages 67,572 27,444 48,552 31,878 Food and beverage 30,453 13,183 32,273 25,864 Utilities 11,166 5,255 18,500 12,736 Franchise and license fees 16,163 8,719 13,512 10,564 Sales and marketing 23,319 10,244 12,362 10,217 Property insurance 8,694 4,012 9,273 5,919 Other segment items (1) 44,051 19,216 39,150 42,225 Owned Resort EBITDA $ 104,841 $ 53,509 $ 80,078 $ 80,500 Year Ended December 31, 2022 Yucatán Peninsula Pacific Coast Dominican Republic Jamaica Owned Net Revenue $ 280,161 $ 128,210 $ 230,972 $ 180,318 Less: Salaries and wages 53,204 21,986 43,550 26,450 Food and beverage 27,951 12,284 29,595 23,440 Utilities 9,802 4,458 17,501 14,074 Franchise and license fees 14,544 8,118 9,529 8,367 Sales and marketing 23,461 9,192 12,702 8,093 Property insurance 5,358 2,436 5,887 3,753 Other segment items (1) 40,425 18,588 35,354 39,862 Owned Resort EBITDA $ 105,416 $ 51,148 $ 76,854 $ 56,279 ________ (1) Other segment items for each reportable segment include administrative and general costs (including credit card commissions and centralized service costs), repairs and maintenance, departmental expenses (including guest costs and music and entertainment costs), and owner expenses (including corporate allocated costs). The following table presents segment Owned Resort EBITDA and a reconciliation to net income for the years ended December 31, 2024, 2023, and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Owned Resort EBITDA Yucatán Peninsula $ 109,652 $ 104,841 $ 105,416 Pacific Coast 42,796 53,509 51,148 Dominican Republic 99,067 80,078 76,854 Jamaica 51,323 80,500 56,279 Total Owned Resort EBITDA 302,838 318,928 289,697 Interest expense (89,364) (108,184) (64,164) Depreciation and amortization (78,580) (81,827) (78,372) Gain (loss) on sale of assets 18,161 (5,069) (6) Loss on extinguishment of debt (1,043) (894) (18,307) Other (expense) income (1,738) (353) 3,857 Repairs from hurricanes and severe weather events (1,620) 823 (8,074) Contract termination fees — 6,485 — Share-based compensation (14,909) (13,207) (11,892) Other tax (expense) income (138) 34 (502) Transaction expense (4,176) (4,705) (15,110) Severance expense (1,398) (1,655) — Non-service cost components of net periodic pension (benefit) cost (1) (1,478) 2,171 1,104 Corporate and other (2) (44,789) (46,981) (47,078) Net income before tax $ 81,766 $ 65,566 $ 51,153 ________ (1) Represents the non-service cost components of net periodic pension cost or benefit recorded within other (expense) income in the Consolidated Statements of Operations. We include these costs in Owned Resort EBITDA as they are considered part of our ongoing resort operations. (2) Includes management fee revenue, The Playa Collection revenue, and corporate expenses. Corporate expenses include corporate salaries and benefits, professional fees, corporate rent and insurance corporate travel, software licenses, board fees and other miscellaneous corporate expenses. The following table presents segment property and equipment, gross and a reconciliation to total property and equipment, net as of December 31, 2024 and 2023 ( $ in thousands ): As of December 31, 2024 2023 Segment property and equipment, gross Yucatán Peninsula $ 692,443 $ 683,073 Pacific Coast 361,077 305,588 Dominican Republic 457,647 541,629 Jamaica (1) 414,804 422,772 Total segment property and equipment, gross 1,925,971 1,953,062 Corporate property and equipment, gross 6,987 5,823 Accumulated depreciation (558,628) (543,313) Total property and equipment, net $ 1,374,330 $ 1,415,572 ________ (1) Property and equipment of the Jewel Paradise Cove resort is included within assets held for sale in the Consolidated Balance Sheet. The following table presents segment capital expenditures and a reconciliation to total capital expenditures for the years ended December 31, 2024, 2023 and 2022 ( $ in thousands ): Year Ended December 31, 2024 2023 2022 Segment capital expenditures Yucatán Peninsula $ 14,050 $ 13,011 $ 10,018 Pacific Coast (2) 56,792 15,337 4,782 Dominican Republic 5,142 9,526 8,163 Jamaica (2) 34,552 8,136 6,304 Total segment capital expenditures 110,536 46,010 29,267 Corporate 3,298 742 698 Total capital expenditures (1) $ 113,834 $ 46,752 $ 29,965 ________ (1) Represents gross additions to property and equipment. (2) Includes the gross balance of finance lease right-of-use assets terminated during the year ended December 31, 2024.

Organization, operations and _2

Organization, operations and basis of presentation (Details)	12 Months Ended
	Dec. 31, 2024 resort	Feb. 09, 2025 $ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of resorts in portfolio | resort	24
Subsequent Event | Hyatt Purchase Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expected price per share (in dollars per share) | $ / shares		$ 13.50

Significant accounting polici_4

Significant accounting policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency gain (loss) recognized	$ (2,500,000)	$ (1,300,000)	$ (900,000)
Impairment loss on property and equipment, net recognized	0	0	0
Impairment of goodwill	0	0	0
Impairment of definite-lived and indefinite-lived intangible assets	0	0	0
Advertising costs	22,400,000	23,200,000	23,000,000
Dominican Republic
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Statutory withholding for government mandated compulsory tips	$ 8,600,000	$ 8,100,000	$ 8,200,000

Significant accounting polici_5

Significant accounting policies - Schedule of Property, Plant and Equipment, Estimated Useful Lives (Details)	Dec. 31, 2024
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	50 years
Fixtures and machinery | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Fixtures and machinery | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	18 years
Furniture and other fixed assets | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	4 years
Furniture and other fixed assets | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	12 years

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 938,569	$ 977,504	$ 856,263
Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	796,487	824,122	723,375
Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	118,640	121,422	116,602
The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	5,949	3,642	1,752
Management fees
Disaggregation of Revenue [Line Items]
Total revenue	6,148	7,030	3,828
Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	9,873	12,475	9,706
Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	1,472	8,813	1,000
Operating Segments | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	328,431	316,186	288,169
Operating Segments | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	129,533	145,505	131,665
Operating Segments | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	258,247	254,152	231,129
Operating Segments | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	202,984	234,800	193,638
Operating Segments | Package revenue | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	288,910	280,544	251,788
Operating Segments | Package revenue | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	111,349	127,830	116,172
Operating Segments | Package revenue | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	224,851	218,309	197,440
Operating Segments | Package revenue | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	171,377	197,439	157,975
Operating Segments | Non-package revenue | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	39,363	35,490	36,244
Operating Segments | Non-package revenue | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	18,184	17,675	15,493
Operating Segments | Non-package revenue | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	33,396	35,843	33,689
Operating Segments | Non-package revenue | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	27,697	32,414	31,176
Operating Segments | The Playa Collection | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | The Playa Collection | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | The Playa Collection | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | The Playa Collection | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Management fees | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	158	152	137
Operating Segments | Management fees | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Management fees | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Management fees | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Cost reimbursements | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Cost reimbursements | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Cost reimbursements | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Cost reimbursements | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	3,910	4,947	4,487
Operating Segments | Other revenues | Yucatán Peninsula
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Other revenues | Pacific Coast
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Other revenues | Dominican Republic
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Operating Segments | Other revenues | Jamaica
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenue	19,374	26,861	11,662
Other | Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Other | Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Other | The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	5,949	3,642	1,752
Other | Management fees
Disaggregation of Revenue [Line Items]
Total revenue	5,990	6,878	3,691
Other | Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	5,963	7,528	5,219
Other | Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,472	$ 8,813	$ 1,000

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	Dec. 15, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Gain on contract termination	$ 6.5

Property and equipment - Schedu

Property and equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,932,958	$ 1,958,885
Finance lease, right-of-use asset, statement of financial position [extensible list]	Total property and equipment, net	Total property and equipment, net
Accumulated depreciation	$ (558,628)	$ (543,313)
Total property and equipment, net	1,374,330	1,415,572
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,560,093	1,646,452
Fixtures and machinery
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	97,837	86,717
Gross balance of finance lease right-of-use asset	18,200	6,300
Amortization expense for finance lease	1,700	500	$ 500
Furniture and other fixed assets
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	197,928	203,639
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 77,100	$ 22,077

Property and equipment - Narrat

Property and equipment - Narrative (Details) - USD ($)							12 Months Ended
	Feb. 20, 2025	Dec. 18, 2024	Sep. 19, 2024	Aug. 22, 2024	Dec. 15, 2023	Nov. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessor, Lease, Description [Line Items]
Depreciation expense							$ 76,000,000	$ 79,700,000	$ 76,900,000
Interest expense capitalized on qualifying assets							1,800,000	300,000	0
Proceeds from the sale of assets, net							64,544,000	78,964,000	182,000
Assets Held for Sale | Jewel Paradise Cove
Lessor, Lease, Description [Line Items]
Cash consideration for sale of assets		$ 28,500,000
Assets Held for Sale | Jewel Palm Beach
Lessor, Lease, Description [Line Items]
Cash consideration for sale of assets				$ 68,000,000
Assets Held for Sale | Jewel Punta Cana
Lessor, Lease, Description [Line Items]
Cash consideration for sale of assets						$ 82,000,000
Sale of Assets | Jewel Paradise Cove | Subsequent Event
Lessor, Lease, Description [Line Items]
Proceeds from the sale of assets, net	$ 28,500,000
Sale of Assets | Jewel Palm Beach
Lessor, Lease, Description [Line Items]
Proceeds from the sale of assets, net			$ 65,300,000
Gain (loss) recognized on disposition of property, plant, and equipment			$ 18,100,000
Sale of Assets | Jewel Punta Cana
Lessor, Lease, Description [Line Items]
Proceeds from the sale of assets, net					$ 79,100,000
Gain (loss) recognized on disposition of property, plant, and equipment								(5,000,000)
Capital gains tax								12,000,000
Business Interruption Insurance | Hurricane Fiona
Lessor, Lease, Description [Line Items]
Insurance proceeds							$ 3,400,000	13,200,000
Property Damage Insurance | Hurricane Fiona
Lessor, Lease, Description [Line Items]
Insurance proceeds								$ 18,000,000	$ 6,400,000

Income taxes - Net Income Befor

Income taxes - Net Income Before Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 3,772	$ 11,471	$ 1,896
Foreign	77,994	54,095	49,257
Net income before tax	$ 81,766	$ 65,566	$ 51,153

Income taxes - Components of In

Income taxes - Components of Income Tax (Provision) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Domestic	$ (208)	$ (440)	$ 0
Foreign	(16,151)	(14,305)	(1,243)
Total current income tax provision	(16,359)	(14,745)	(1,243)
Deferred
Domestic	(790)	(2,471)	5,333
Foreign	9,196	5,502	1,463
Total deferred income tax benefit	8,406	3,031	6,796
Income tax (provision) benefit	$ (7,953)	$ (11,714)	$ 5,553

Income taxes - Reconciliation o

Income taxes - Reconciliation of Netherlands Statutory Federal Income Tax Rate to Our Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective tax rate, Amount
Income tax provision at statutory rate	$ (21,096)	$ (16,917)	$ (13,197)
Differences between statutory rate and foreign rates	27,191	51,940	31,490
Inflation adjustments	4,175	2,661	10,106
Nondeductible expenses	(3,731)	(11,742)	(5,202)
Foreign exchange rate differences	393	(5,049)	(3,570)
Capital gains	4,674	(12,044)	0
Global Minimum Tax	(14,010)	0	0
Change in valuation allowance	(6,901)	(21,367)	(13,941)
Other	1,352	804	(133)
Income tax (provision) benefit	$ 7,953	$ 11,714	$ (5,553)
Effective tax rate, Percent
Income tax provision at statutory rate	25.80%	25.80%	25.80%
Differences between statutory rate and foreign rates	(33.30%)	(79.20%)	(61.60%)
Inflation adjustments	(5.10%)	(4.10%)	(19.80%)
Nondeductible expenses	4.60%	17.90%	10.20%
Foreign exchange rate differences	(0.50%)	7.70%	7%
Capital gains	(5.70%)	18.40%	0%
Global Minimum Tax	17.10%	0%	0%
Change in valuation allowance	8.40%	32.60%	27.30%
Other	(1.60%)	(1.20%)	0.30%
Income tax (provision) benefit	9.70%	17.90%	(10.80%)

Income taxes - Narrative (Detai

Income taxes - Narrative (Details)		12 Months Ended
	Dec. 21, 2021 USD ($)	Dec. 31, 2024 USD ($) entity	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2019
Income Tax Contingency [Line Items]
Income tax provision at statutory rate		25.80%	25.80%	25.80%
Income tax (provision) benefit		$ (7,953,000)	$ (11,714,000)	$ 5,553,000
Effective income tax rate		9.70%	17.90%	(10.80%)
Expense on tax impact of book income (loss)		$ 21,096,000	$ 16,917,000	$ 13,197,000
Global Minimum Tax		14,010,000	0	0
Increase (decrease) in valuation allowance established on deferred tax assets		6,901,000	21,367,000	13,941,000
Nondeductible expenses		3,731,000	11,742,000	5,202,000
Tax expense (benefit) from rate-favorable jurisdictions		(27,191,000)	(51,940,000)	(31,490,000)
Capital gains		(4,674,000)	12,044,000	0
Tax benefit from inflation adjustments		4,175,000	2,661,000	10,106,000
Tax expense on non-deductible interest, goodwill impairment expense, and other expenses			11,700,000	5,200,000
Tax expense associated with foreign exchange rate fluctuations		(393,000)	5,049,000	3,570,000
Current income tax expense (benefit)		16,359,000	14,745,000	1,243,000
Deferred income tax expense (benefit)		(8,406,000)	(3,031,000)	(6,796,000)
Uncertain tax positions		0	0	0
Foreign Tax Jurisdiction
Income Tax Contingency [Line Items]
Net operating loss carryforwards		508,500,000
Domestic Plan
Income Tax Contingency [Line Items]
Net operating loss carryforwards		$ 9,800,000
Dominican Republic
Income Tax Contingency [Line Items]
Number of entities under tax holiday | entity		2
Current income tax expense (benefit)		$ 500,000	1,000,000	300,000
Deferred income tax expense (benefit)		0	$ (2,600,000)	$ (500,000)
Dominican Republic | Playa Dominican Resorts B.V.
Income Tax Contingency [Line Items]
Period of tax exemption (in years)					15 years
Dominican Republic | Playa Romana Mar B.V.
Income Tax Contingency [Line Items]
Period of tax exemption (in years)					15 years
Netherlands
Income Tax Contingency [Line Items]
Tax expense (benefit) on measurement of Dutch deferred tax assets and liabilities pursuant to Dutch tax rate change		$ 14,000,000
Dutch tax package effect on deferred tax assets, increase	$ 2,700,000
Dutch tax package effect on deferred tax asset valuation allowance, increase	2,700,000
Impact of Dutch tax rate change from deferred tax assets, tax expense (benefit)	$ 0

Income taxes - Schedule of Defe

Income taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Advance customer deposits	$ 2,273	$ 3,687
Trade payables and other accruals	9,479	5,711
Labor liability accrual	1,764	1,562
Lease obligation	820	999
Interest expense	106,406	97,034
Other assets	0	2,667
Net operating losses	137,424	149,190
Total deferred tax asset	258,166	260,850
Valuation allowance	(223,694)	(222,650)
Net deferred tax asset	34,472	38,200
Deferred tax liabilities
Accounts receivable and prepayments to vendors	861	771
Property and equipment	71,933	87,524
Other liabilities	5,119	1,753
Total deferred tax liability	77,913	90,048
Net deferred tax liability	$ (43,441)	$ (51,848)

Income taxes - Schedule of Chan

Income taxes - Schedule of Change in Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Valuation Allowance [Roll Forward]
Deferred tax asset valuation allowance, Balance at beginning of period	$ (222,650)	$ (177,817)	$ (160,104)
Additions	(8,774)	(57,179)	(29,728)
Deductions	7,730	12,346	12,015
Deferred tax asset valuation allowance, Balance at end of period	$ (223,694)	$ (222,650)	$ (177,817)

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party | ALG | Package revenue
Related Party Transaction [Line Items]
Total transactions with related parties	$ 0	$ 0	$ 18,074
Related Party | Sagicor | Cost reimbursements
Related Party Transaction [Line Items]
Total transactions with related parties	3,910	5,087	5,113
Related Party | Sagicor | Insurance premiums
Related Party Transaction [Line Items]
Total transactions with related parties	1,641	1,489	1,131
Related Party | Hyatt | Franchise fees
Related Party Transaction [Line Items]
Total transactions with related parties	36,032	35,562	29,774
Related Party | DKCM | Interest expense
Related Party Transaction [Line Items]
Total transactions with related parties	0	0	27,425
Unamortized deferred financing costs and discounts written off			6,300
Related Party | DKCM | Early termination and other fees
Related Party Transaction [Line Items]
Total transactions with related parties	0	0	5,226
Related Party | AMResorts | Management fees
Related Party Transaction [Line Items]
Total transactions with related parties	0	41	3,279
Related Party | AMResorts | Marketing fees
Related Party Transaction [Line Items]
Total transactions with related parties	0	37	3,702
Chief Executive Officer | Lease expense
Related Party Transaction [Line Items]
Total transactions with related parties	$ 640	$ 687	$ 786

Commitments and contingencies (

Commitments and contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future payments under noncancellable unconditional purchase obligation	$ 7.2
Unconditional purchase obligation, year one	0.6
Unconditional purchase obligation, year two	0.6
Unconditional purchase obligation, year three	0.6
Unconditional purchase obligation, year four	0.6
Unconditional purchase obligation, year five	0.6
Purchases under unconditional purchase obligation	$ 1.2

Leases - Minimum Future Lease P

Leases - Minimum Future Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 1,193
2026	1,204
2027	1,214
2028	1,032
2029	947
Thereafter	1,964
Total minimum future lease payments	7,554
Less: imputed interest	(1,350)
Total lease liability	$ 6,204	$ 6,973
Operating lease, liability, statement of financial position [extensible list]	Other liabilities	Other liabilities
Finance Leases
2025	$ 2,201
2026	2,348
2027	2,382
2028	2,417
2029	2,452
Thereafter	15,757
Total minimum future lease payments	27,557
Less: imputed interest	(10,328)
Total lease liability	$ 17,229
Finance lease, liability, statement of financial position [extensible list]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation

Leases - Components of Lease Ex

Leases - Components of Lease Expense and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Lease expense	$ 3,002	$ 3,394	$ 2,319
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	786	661	825
Operating cash outflows for finance leases	650	413	443
Financing cash outflows for finance leases	$ 596	$ 436	$ 400

Leases - Other Relevant Informa

Leases - Other Relevant Information (Details)	Dec. 31, 2024
Operating Leases
Weighted-average remaining lease term	6 years 9 months 14 days
Weighted-average discount rate (in percent)	5.98%
Finance Leases
Weighted-average remaining lease term	12 years 10 months 24 days
Weighted-average discount rate (in percent)	8.29%

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2024
Minimum
Lessor, Lease, Description [Line Items]
Contractual term (in years)	1 year
Maximum
Lessor, Lease, Description [Line Items]
Contractual term (in years)	3 years

Leases - Rental Income (Details

Leases - Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease income	$ 3,955	$ 4,040	$ 4,197
Operating lease, lease income, statement of income or comprehensive income [extensible enumeration]	Total revenue	Total revenue	Total revenue

Ordinary shares (Details)

Ordinary shares (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 $ / shares € / shares shares	Dec. 31, 2023 € / shares $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2024 USD ($) shares
Class of Stock [Line Items]
Amount of ordinary shares reauthorized for repurchase | $				$ 200
Repurchase of ordinary shares (in shares)	17,106,552	23,295,093	7,838,992
Average price of shares repurchased (in dollars per share) | $ / shares	$ 8.44	$ 7.95	$ 5.90
Remaining authorized amount under share repurchase program | $				$ 52.1
Ordinary shares, outstanding (in shares)		136,081,891		121,554,617
Ordinary shares, par value (in euros per share) | € / shares	$ 0.10	$ 0.10
Restricted shares
Class of Stock [Line Items]
Shares outstanding (in shares)				5,049,986
Restricted share units
Class of Stock [Line Items]
Shares outstanding (in shares)				36,272

Share-based compensation - Narr

Share-based compensation - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants under the 2017 Plan (in shares) | shares	10,080,318
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 11
Period over which unrecognized compensation expense will be recorded	1 year 9 months 18 days
Unvested performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Unrecognized compensation cost	$ 8.2
Period over which unrecognized compensation expense will be recorded	1 year 10 months 24 days
Award vesting rights (in percent)	100%
Period after target ordinary shares vest that any declared dividends will be paid	30 days
Vesting percentage	1
Employees and Executives | Restricted Share Awards | Vesting in First Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)	33%
Employees and Executives | Restricted Share Awards | Vesting in Second Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)	33%
Employees and Executives | Restricted Share Awards | Vesting in Third Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)	33%
Directors | Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Minimum | Unvested performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)	0%
Minimum | Employees and Executives | Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Maximum | Unvested performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)	200%

Share-based compensation - Summ

Share-based compensation - Summary of Restricted Share Awards and Performance Share Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Share Awards
Number of Shares
Unvested balance at beginning of period (in shares)	2,733,532
Granted (in shares)	1,456,506
Vested (in shares)	(1,417,634)
Forfeited (in shares)	(45,077)
Unvested balance at end of period (in shares)	2,727,327	2,733,532
Weighted-Average Grant Date Fair Value
Unvested balance at beginning of period (in dollars per share)	$ 6.84
Granted (in dollars per share)	8.03	$ 6.77	$ 8.20
Vested (in dollars per share)	6.61
Forfeited (in dollars per share)	7.49
Unvested balance at end of period (in dollars per share)	$ 7.58	$ 6.84
Performance Share Awards
Number of Shares
Unvested balance at beginning of period (in shares)	2,048,350
Granted (in shares)	1,509,519
Vested (in shares)	(1,174,808)
Forfeited (in shares)	(24,130)
Unvested balance at end of period (in shares)	2,358,931	2,048,350
Weighted-Average Grant Date Fair Value
Unvested balance at beginning of period (in dollars per share)	$ 6.34
Granted (in dollars per share)	7.39	$ 6.88	$ 8.10
Vested (in dollars per share)	5.38
Forfeited (in dollars per share)	6.01
Unvested balance at end of period (in dollars per share)	$ 7.35	$ 6.34

Share-based compensation - Su_2

Share-based compensation - Summary of Additional Information on Restricted and Performance Share Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (in dollars per share)	$ 8.03	$ 6.77	$ 8.20
Fair value of vested restricted share awards	$ 11,681	$ 7,260	$ 13,086
Share-based compensation expense	$ 9,974	$ 9,130	$ 8,665
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (in dollars per share)	$ 7.39	$ 6.88	$ 8.10
Fair value of vested restricted share awards	$ 9,528	$ 0	$ 130
Share-based compensation expense	$ 4,935	$ 4,077	$ 3,227

Share-based compensation - Su_3

Share-based compensation - Summary of Key Inputs (Details) - USD ($) $ in Thousands	Feb. 08, 2024	Jan. 17, 2024	Jan. 18, 2023	Jan. 04, 2022
Peer Shareholder Return
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Total Award		50%	50%	50%
Grant Date Fair Value by Component		$ 2,915	$ 2,751	$ 1,689
Volatility		39.05%	71.82%	67.79%
Interest Rate		4.09%	3.70%	1.01%
Dividend Yield		0%	0%	0%
Growth Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Total Award	100%	50%	50%	50%
Grant Date Fair Value by Component	$ 4,369	$ 2,066	$ 2,194	$ 1,346
Volatility	38.21%	39.05%	71.82%	67.79%
Interest Rate	4.20%	4.09%	3.70%	1.01%
Dividend Yield	0%	0%	0%	0%

Earnings per share - Schedule o

Earnings per share - Schedule of Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income	$ 73,813	$ 53,852	$ 56,706
Denominator
Denominator for basic EPS - weighted-average number of shares outstanding (in shares)	129,737,022	148,063,358	164,782,886
Effect of dilutive securities
Denominator for diluted EPS - adjusted weighted-average number of shares outstanding (in shares)	131,521,526	150,309,674	166,077,802
EPS - Basic (in dollars per share)	$ 0.57	$ 0.36	$ 0.34
EPS - Diluted (in dollars per share)	$ 0.56	$ 0.36	$ 0.34
Unvested performance share awards
Effect of dilutive securities
Unvested awards (in shares)	866,009	1,268,736	546,790
Unvested restricted share awards
Effect of dilutive securities
Unvested awards (in shares)	918,495	977,580	748,126

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unvested performance share awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings (losses) per share (in shares)	0	0	187,500
Restricted Share Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings (losses) per share (in shares)	0	0	0

Debt - Schedule of Debt Compone

Debt - Schedule of Debt Components (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 22, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Financing lease obligations		$ 17,229	$ 5,222
Total debt, net		1,069,543	1,061,376
Interest expense for finance lease		1,300	400	$ 400
Senior Secured Credit Facilities | Senior Secured Credit Faciliries
Debt Instrument [Line Items]
Total Senior Secured Credit Facilities (at stated value)		1,078,000	1,089,000
Unamortized discount		(20,687)	(26,466)
Unamortized debt issuance costs		(4,999)	(6,380)
Total Senior Secured Credit Facilities, net		$ 1,052,314	1,056,154
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit
Debt Instrument [Line Items]
Interest rate (in percent)		3.50%
Total Senior Secured Credit Facilities (at stated value)		$ 0	0
Available balances		$ 225,000	$ 225,000
Term Loan Due 2029 | Senior Secured Credit Facilities | Senior Secured Credit Faciliries
Debt Instrument [Line Items]
Interest rate (in percent)	0.50%	2.75%	3.25%
Total Senior Secured Credit Facilities (at stated value)		$ 1,078,000	$ 1,089,000
Effective interest rate (in percent)		7.11%	8.59%

Debt - Schedule of Aggregate De

Debt - Schedule of Aggregate Debt Maturities (Details) - Medium-Term Note - Senior Secured Credit Facilities - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Maturities of Long-Term Debt [Abstract]
Total debt maturities	$ 1,078,000	$ 1,089,000
Term Loan Due 2029
Maturities of Long-Term Debt [Abstract]
2025	11,000
2026	11,000
2027	11,000
2028	11,000
2029	1,034,000
Thereafter	0
Total debt maturities	$ 1,078,000	$ 1,089,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands				12 Months Ended
	Jun. 22, 2024	Dec. 22, 2023	Dec. 16, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 1,043	$ 894	$ 18,307
Total lease liability				$ 17,229
Land, Buildings, and Improvements and Machinery and Equipment, Electricity and Hot Water Production and Liquified Natural Gas Storage
Debt Instrument [Line Items]
Gross balance of finance lease right-of-use asset								$ 14,500
Total lease liability								$ 14,100
Land, Buildings, and Improvements and Machinery and Equipment, Electricity and Hot Water Production
Debt Instrument [Line Items]
Gross balance of finance lease right-of-use asset							$ 13,300
Total lease liability							13,300
Term of financing lease arrangement (in years)								10 years
Land, Buildings, and Improvements and Machinery and Equipment, Liquified Natural Gas Storage
Debt Instrument [Line Items]
Term of financing lease arrangement (in years)								12 years
Land, Buildings, and Improvements and Machinery and Equipment, Electricity and Chilled and Hot Water Production
Debt Instrument [Line Items]
Gross balance of finance lease right-of-use asset							11,800
Total lease liability							$ 11,800
Term of financing lease arrangement (in years)							15 years
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 225,000
Interest rate (in percent)				3.50%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Maximum
Debt Instrument [Line Items]
Interest on undrawn balances, depending on certain leverage ratios (in percent)				0.25%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate (in percent)				2.25%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate (in percent)				3.25%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Minimum
Debt Instrument [Line Items]
Interest on undrawn balances, depending on certain leverage ratios (in percent)				0.50%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate (in percent)				2.75%
Revolving Credit Facility | Senior Secured Credit Facilities | Line of Credit | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate (in percent)				3.75%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note
Debt Instrument [Line Items]
Face amount			$ 1,100,000
Interest rate (in percent)	0.50%			2.75%	3.25%
Early termination and other fees				$ 1,300	$ 1,700
Loss on extinguishment of debt				$ 1,000	$ 900
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Base Rate
Debt Instrument [Line Items]
Interest rate (in percent)	1.75%		3.25%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate (in percent)	2.75%		4.25%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate (in percent)		2.50%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate (in percent)		3.50%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate (in percent)		2.25%
Term Loan Due 2029 | Senior Secured Credit Facilities | Medium-Term Note | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate (in percent)		3.25%
Letter of Credit | Senior Secured Credit Facilities | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 25,000
Bridge Loan | Senior Secured Credit Facilities | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 25,000

Debt - Financial Maintenance Co

Debt - Financial Maintenance Covenants (Details) - Revolving Credit Facility - Senior Secured Credit Facilities - Line of Credit	12 Months Ended
	Dec. 31, 2024
Debt Instrument [Line Items]
Minimum total net leverage ratio	5.20
Total net leverage ratio requirement threshold, percentage drawn on Revolving Credit Facility	35%

Derivative financial instrume_3

Derivative financial instruments - Schedule of Interest Rate Swaps (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap, Maturing April 15, 2025 | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 275	$ 275	$ 275
Fixed Rate Paid (in percent)	4.05%	4.05%	4.05%
Interest Rate Swap, Maturing April 15, 2026 | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 275	$ 275	$ 275
Fixed Rate Paid (in percent)	3.71%	3.71%	3.71%
Interest Rate Swap, Maturing March 31, 2023 | Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 800	$ 800	$ 800
Fixed Rate Paid (in percent)	2.85%	2.85%	2.85%

Derivative financial instrume_4

Derivative financial instruments - Narrative (Details) - Dec. 31, 2024 $ in Millions, $ in Billions	USD ($)	MXN ($)
Foreign currency forwards | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 139.6	$ 2.7

Derivative financial instrume_5

Derivative financial instruments - Effects on Comprehensive Loss Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) expected to be reclassified from AOCI to interest expense during next twelve months	$ 1,300
Interest rate swaps | Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments, not designated as hedging instruments	0	$ 3,013	$ (4,948)
Interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(7,203)	(5,300)	0
Interest rate swaps | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(6,050)	(7,890)	0
Reclassification from AOCI to interest expense	7,203	2,416	(11,737)
Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) expected to be reclassified from AOCI to interest expense during next twelve months	(12,600)
Foreign currency forwards | Cash Flow Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	5,253	$ 0	$ 0
Foreign currency forwards | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	16,721
Reclassification from AOCI to interest expense	$ (4,139)

Derivative financial instrume_6

Derivative financial instruments - Location and Fair Value of Derivatives in Balance Sheet (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative financial assets	$ 1,672	$ 2,966
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative financial liabilities	$ 12,581

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair value measurements on a recurring basis
Financial Assets	$ 1,672	$ 2,966
Financial Liabilities	12,581	0
Fair value measurements on a recurring basis | Interest rate swaps
Fair value measurements on a recurring basis
Financial Assets	1,672	2,966
Fair value measurements on a recurring basis | Foreign currency forwards
Fair value measurements on a recurring basis
Financial Liabilities	12,581
Fair value measurements on a recurring basis | Level 1 | Interest rate swaps
Fair value measurements on a recurring basis
Financial Assets	0	0
Fair value measurements on a recurring basis | Level 1 | Foreign currency forwards
Fair value measurements on a recurring basis
Financial Liabilities	0
Fair value measurements on a recurring basis | Level 2 | Interest rate swaps
Fair value measurements on a recurring basis
Financial Assets	1,672	2,966
Fair value measurements on a recurring basis | Level 2 | Foreign currency forwards
Fair value measurements on a recurring basis
Financial Liabilities	12,581
Fair value measurements on a recurring basis | Level 3 | Interest rate swaps
Fair value measurements on a recurring basis
Financial Assets	0	$ 0
Fair value measurements on a recurring basis | Level 3 | Foreign currency forwards
Fair value measurements on a recurring basis
Financial Liabilities	$ 0

Fair value of financial instr_4

Fair value of financial instruments - Schedule of Financial Liabilities Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	$ 1,052,314	$ 1,056,154
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	0	0
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	1,079,490	1,097,081
Term Loan Due 2029 | Carrying Value | Senior Secured Credit Faciliries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	1,052,314	1,056,154
Term Loan Due 2029 | Fair Value | Senior Secured Credit Faciliries | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	0	0
Term Loan Due 2029 | Fair Value | Senior Secured Credit Faciliries | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	0	0
Term Loan Due 2029 | Fair Value | Senior Secured Credit Faciliries | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	$ 1,079,490	$ 1,097,081

Employee benefit plan - Schedul

Employee benefit plan - Schedule of Pension Obligation, Funded Status and Accumulated Pension Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in pension obligation
Balance at beginning of period	$ 9,980	$ 7,777
Service cost	1,217	1,161	$ 857
Interest cost	775	819	517
Actuarial (gain) loss	(3,569)	43
Effect of foreign exchange rates	(1,565)	1,213
Curtailment	(118)	0
Benefits paid	(1,292)	(1,033)
Balance at end of period	5,428	9,980	$ 7,777
Underfunded status	(5,428)	(9,980)
Accumulated pension obligation	$ (4,322)	$ (7,483)

Employee benefit plan - Narrati

Employee benefit plan - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Plan assets	$ 0	$ 0

Employee benefit plan - Sched_2

Employee benefit plan - Schedule of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Service cost	$ 1,217	$ 1,161	$ 857
Interest cost	775	819	517
Effect of foreign exchange rates	(1,565)	1,213	431
Compensation-non-retirement post-employment benefits	(48)	183	237
Settlement and curtailment gain	(571)	(62)	(82)
Other	(69)	18	1
Total net periodic pension (benefit) cost	$ (261)	$ 3,332	$ 1,961

Employee benefit plan - Sched_3

Employee benefit plan - Schedule of Weighted-Average Assumptions Used to Determine Pension Obligation (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Discount rate	10.50%	9.70%	9.22%
Rate of compensation increase	4.79%	4.79%	4.79%

Employee benefit plan - Sched_4

Employee benefit plan - Schedule of Expected Plan Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Retirement Benefits [Abstract]
2025	$ 841
2026	842
2027	881
2028	910
2029	948
Thereafter	3,882
Total expected plan payments	$ 8,304

Other balance sheet items - Sch

Other balance sheet items - Schedule of Trade and Other Receivables, Net (Details) - Nonrelated Party - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade and other receivables	$ 68,226	$ 75,051
Allowance for doubtful accounts	(1,269)	(289)	$ (63,400)	$ (450)	$ (1,940)
Total trade and other receivables, net	$ 66,957	$ 74,762

Other balance sheet items - S_2

Other balance sheet items - Schedule of Changes in Allowance for Doubtful Accounts (Details) - Nonrelated Party - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ (289)	$ (450)	$ (1,940)
Additions	(2,282)	(375)	(656)
Deductions	1,302	536	2,146
Balance at end of period	$ (1,269)	$ (289)	$ (450)

Other balance sheet items - S_3

Other balance sheet items - Schedule of Prepayments and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advances to suppliers	$ 15,383	$ 18,213
Prepaid income taxes	10,513	11,510
Prepaid other taxes	8,444	5,641
Operating lease right-of-use assets	$ 5,681	$ 6,426
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total prepayments and other assets	Total prepayments and other assets
Key money	$ 6,684	$ 6,475
Other assets	8,360	6,029
Total prepayments and other assets	$ 55,065	$ 54,294

Other balance sheet items - Nar

Other balance sheet items - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of goodwill	$ 0	$ 0	$ 0
Amortization expense for intangibles	$ 2,600,000	$ 2,100,000	$ 1,500,000

Other balance sheet items - S_4

Other balance sheet items - Schedule of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Gross carrying value	$ 85,610	$ 85,610
Accumulated impairment losses	(24,968)	(24,968)
Net carrying value	60,642	60,642
Yucatán Peninsula
Goodwill [Line Items]
Gross carrying value	51,731	51,731
Accumulated impairment losses	(6,168)	(6,168)
Net carrying value	45,563	45,563
Pacific Coast
Goodwill [Line Items]
Gross carrying value	0	0
Accumulated impairment losses	0	0
Net carrying value	0	0
Dominican Republic
Goodwill [Line Items]
Gross carrying value	0	0
Accumulated impairment losses	0	0
Net carrying value	0	0
Jamaica
Goodwill [Line Items]
Gross carrying value	33,879	33,879
Accumulated impairment losses	(18,800)	(18,800)
Net carrying value	$ 15,079	$ 15,079

Other balance sheet items - S_5

Other balance sheet items - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total accumulated amortization	$ (7,916)	$ (9,176)
Net carrying value, finite-lived intangible assets	2,091
Indefinite-lived Intangible Assets [Line Items]
Total gross carrying value	10,007	13,533
Other intangible assets	2,091	4,357
Casino and other Licenses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	0	607
Management contract
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	1,900	1,900
Total accumulated amortization	(618)	(523)
Net carrying value, finite-lived intangible assets	1,282	1,377
Enterprise resource planning system
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	6,352	6,352
Total accumulated amortization	(6,008)	(4,349)
Net carrying value, finite-lived intangible assets	344	$ 2,003
Estimated useful life (in years)		4 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	1,755	$ 4,674
Total accumulated amortization	(1,290)	(4,304)
Net carrying value, finite-lived intangible assets	$ 465	$ 370

Other balance sheet items - S_6

Other balance sheet items - Schedule of Amortization Expense Relating to Intangible Assets with Finite Lives (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2025	$ 641
2026	189
2027	175
2028	135
2029	119
Thereafter	832
Net carrying value, finite-lived intangible assets	$ 2,091

Other balance sheet items - S_7

Other balance sheet items - Schedule of Trade and Other Payables (Details) - Nonrelated Party - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jan. 01, 2023
Trade and Other Payables [Line Items]
Trade payables	$ 22,684,000	$ 25,929,000
Advance deposits	71,044,000	80,506,000	$ 83,300,000
Withholding and other taxes payable	11,188,000	15,164,000
Interest payable	0	2,603,000
Payroll and related accruals	26,039,000	31,466,000
Accrued expenses and other payables	23,622,000	40,764,000
Total trade and other payables	154,577,000	196,432,000
Hurricane Fiona
Trade and Other Payables [Line Items]
Repair and clean up expense	$ 0	$ 16,800,000

Other balance sheet items - S_8

Other balance sheet items - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Pension obligation	$ 5,428	$ 9,980
Operating lease liabilities	$ 6,204	$ 6,973
Operating lease, liability, statement of financial position [extensible list]	Total other liabilities	Total other liabilities
Unfavorable ground lease liability	$ 1,639	$ 1,748
Key money	13,300	14,331
Other	941	938
Total other liabilities	$ 27,512	$ 33,970

Business segments - Narrative (

Business segments - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Business segments - Schedule of

Business segments - Schedule of Net Revenue and Reconciliation to Gross Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 938,569	$ 977,504	$ 856,263
Gain on business interruption insurance recovery, statement of income or comprehensive income [extensible enumeration]	Total revenue	Total revenue	Total revenue
Other
Segment Reporting Information [Line Items]
Total revenue	$ 1,472	$ 8,813	$ 1,000
Management fees
Segment Reporting Information [Line Items]
Total revenue	6,148	7,030	3,828
The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	5,949	3,642	1,752
Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	9,873	12,475	9,706
Operating Segments | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	890,846	921,444	819,661
Operating Segments | Yucatán Peninsula
Segment Reporting Information [Line Items]
Total revenue	328,431	316,186	288,169
Operating Segments | Yucatán Peninsula | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	317,590	306,259	280,161
Operating Segments | Yucatán Peninsula | Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Yucatán Peninsula | Management fees
Segment Reporting Information [Line Items]
Total revenue	158	152	137
Operating Segments | Yucatán Peninsula | The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Yucatán Peninsula | Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Pacific Coast
Segment Reporting Information [Line Items]
Total revenue	129,533	145,505	131,665
Operating Segments | Pacific Coast | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	125,742	141,582	128,210
Operating Segments | Pacific Coast | Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Pacific Coast | Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Pacific Coast | The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Pacific Coast | Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Dominican Republic
Segment Reporting Information [Line Items]
Total revenue	258,247	254,152	231,129
Operating Segments | Dominican Republic | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	257,895	253,700	230,972
Operating Segments | Dominican Republic | Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Dominican Republic | Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Dominican Republic | The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Dominican Republic | Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Jamaica
Segment Reporting Information [Line Items]
Total revenue	202,984	234,800	193,638
Operating Segments | Jamaica | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	189,619	219,903	180,318
Operating Segments | Jamaica | Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Jamaica | Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Jamaica | The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0
Operating Segments | Jamaica | Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	3,910	4,947	4,487
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Other
Segment Reporting Information [Line Items]
Total revenue	1,472	8,813	1,000
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Management fees
Segment Reporting Information [Line Items]
Total revenue	6,148	7,030	3,828
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	5,949	3,642	1,752
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	9,873	12,475	9,706
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Compulsory tips
Segment Reporting Information [Line Items]
Total revenue	$ 24,281	$ 24,100	$ 20,316

Business segments - Schedule _2

Business segments - Schedule of Reportable Segments and Reconciliation from Segment Owned Net Revenue to segment Owned Resort EBITDA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 938,569	$ 977,504	$ 856,263
Direct expenses	498,166	516,449	459,030
Operating Segments
Segment Reporting Information [Line Items]
Owned Resort EBITDA	302,838	318,928	289,697
Operating Segments | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	890,846	921,444	819,661
Operating Segments | Yucatán Peninsula
Segment Reporting Information [Line Items]
Total revenue	328,431	316,186	288,169
Sales and marketing	23,423	23,319	23,461
Property insurance	9,791	8,694	5,358
Other segment items	47,085	44,051	40,425
Owned Resort EBITDA	109,652	104,841	105,416
Operating Segments | Yucatán Peninsula | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	317,590	306,259	280,161
Operating Segments | Yucatán Peninsula | Salaries and wages
Segment Reporting Information [Line Items]
Direct expenses	71,151	67,572	53,204
Operating Segments | Yucatán Peninsula | Food and beverage
Segment Reporting Information [Line Items]
Direct expenses	28,412	30,453	27,951
Operating Segments | Yucatán Peninsula | Utilities
Segment Reporting Information [Line Items]
Direct expenses	11,162	11,166	9,802
Operating Segments | Yucatán Peninsula | Franchise and license fees
Segment Reporting Information [Line Items]
Direct expenses	16,914	16,163	14,544
Operating Segments | Pacific Coast
Segment Reporting Information [Line Items]
Total revenue	129,533	145,505	131,665
Sales and marketing	9,446	10,244	9,192
Property insurance	4,525	4,012	2,436
Other segment items	18,545	19,216	18,588
Owned Resort EBITDA	42,796	53,509	51,148
Operating Segments | Pacific Coast | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	125,742	141,582	128,210
Operating Segments | Pacific Coast | Salaries and wages
Segment Reporting Information [Line Items]
Direct expenses	27,138	27,444	21,986
Operating Segments | Pacific Coast | Food and beverage
Segment Reporting Information [Line Items]
Direct expenses	10,660	13,183	12,284
Operating Segments | Pacific Coast | Utilities
Segment Reporting Information [Line Items]
Direct expenses	4,640	5,255	4,458
Operating Segments | Pacific Coast | Franchise and license fees
Segment Reporting Information [Line Items]
Direct expenses	7,992	8,719	8,118
Operating Segments | Dominican Republic
Segment Reporting Information [Line Items]
Total revenue	258,247	254,152	231,129
Sales and marketing	11,055	12,362	12,702
Property insurance	8,828	9,273	5,887
Other segment items	38,716	39,150	35,354
Owned Resort EBITDA	99,067	80,078	76,854
Operating Segments | Dominican Republic | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	257,895	253,700	230,972
Operating Segments | Dominican Republic | Salaries and wages
Segment Reporting Information [Line Items]
Direct expenses	41,202	48,552	43,550
Operating Segments | Dominican Republic | Food and beverage
Segment Reporting Information [Line Items]
Direct expenses	28,836	32,273	29,595
Operating Segments | Dominican Republic | Utilities
Segment Reporting Information [Line Items]
Direct expenses	15,313	18,500	17,501
Operating Segments | Dominican Republic | Franchise and license fees
Segment Reporting Information [Line Items]
Direct expenses	14,878	13,512	9,529
Operating Segments | Jamaica
Segment Reporting Information [Line Items]
Total revenue	202,984	234,800	193,638
Sales and marketing	9,179	10,217	8,093
Property insurance	6,839	5,919	3,753
Other segment items	44,044	42,225	39,862
Owned Resort EBITDA	51,323	80,500	56,279
Operating Segments | Jamaica | Total Owned Net Revenue
Segment Reporting Information [Line Items]
Total revenue	189,619	219,903	180,318
Operating Segments | Jamaica | Salaries and wages
Segment Reporting Information [Line Items]
Direct expenses	33,536	31,878	26,450
Operating Segments | Jamaica | Food and beverage
Segment Reporting Information [Line Items]
Direct expenses	23,540	25,864	23,440
Operating Segments | Jamaica | Utilities
Segment Reporting Information [Line Items]
Direct expenses	11,951	12,736	14,074
Operating Segments | Jamaica | Franchise and license fees
Segment Reporting Information [Line Items]
Direct expenses	$ 9,207	$ 10,564	$ 8,367

Business segments - Schedule _3

Business segments - Schedule of Owned Resort EBITDA, Adjusted EBITDA and Reconciliation to Net (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Owned Resort EBITDA
Interest expense	$ (89,364)	$ (108,184)	$ (64,164)
Depreciation and amortization	(78,580)	(81,827)	(78,372)
Gain (loss) on sale of assets	18,161	(5,069)	(6)
Loss on extinguishment of debt	(1,043)	(894)	(18,307)
Other (expense) income	(1,738)	(353)	3,857
Net income before tax	81,766	65,566	51,153
Operating Segments
Owned Resort EBITDA
Total Owned Resort EBITDA	302,838	318,928	289,697
Operating Segments | Yucatán Peninsula
Owned Resort EBITDA
Total Owned Resort EBITDA	109,652	104,841	105,416
Corporate and other	(47,085)	(44,051)	(40,425)
Operating Segments | Pacific Coast
Owned Resort EBITDA
Total Owned Resort EBITDA	42,796	53,509	51,148
Corporate and other	(18,545)	(19,216)	(18,588)
Operating Segments | Dominican Republic
Owned Resort EBITDA
Total Owned Resort EBITDA	99,067	80,078	76,854
Corporate and other	(38,716)	(39,150)	(35,354)
Operating Segments | Jamaica
Owned Resort EBITDA
Total Owned Resort EBITDA	51,323	80,500	56,279
Corporate and other	(44,044)	(42,225)	(39,862)
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Owned Resort EBITDA
Interest expense	(89,364)	(108,184)	(64,164)
Depreciation and amortization	(78,580)	(81,827)	(78,372)
Gain (loss) on sale of assets	18,161	(5,069)	(6)
Loss on extinguishment of debt	(1,043)	(894)	(18,307)
Other (expense) income	(1,738)	(353)	3,857
Repairs from hurricanes and severe weather events	(1,620)	823	(8,074)
Contract termination fees	0	6,485	0
Share-based compensation	(14,909)	(13,207)	(11,892)
Other tax (expense) income	(138)	34	(502)
Transaction expenses	(4,176)	(4,705)	(15,110)
Severance expense	(1,398)	(1,655)	0
Non-service cost components of net periodic pension (benefit) cost	(1,478)	2,171	1,104
Segment Reporting, Reconciling Item, Corporate Nonsegment
Owned Resort EBITDA
Corporate and other	$ (44,789)	$ (46,981)	$ (47,078)

Business segments - Schedule _4

Business segments - Schedule of Segment Property and Equipment and Reconciliation to Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	$ 1,932,958	$ 1,958,885
Accumulated depreciation	(558,628)	(543,313)
Total property and equipment, net	1,374,330	1,415,572
Operating Segments
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	1,925,971	1,953,062
Operating Segments | Yucatán Peninsula
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	692,443	683,073
Operating Segments | Pacific Coast
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	361,077	305,588
Operating Segments | Dominican Republic
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	457,647	541,629
Operating Segments | Jamaica
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	414,804	422,772
Corporate
Segment Reporting Information [Line Items]
Total segment property and equipment, gross	$ 6,987	$ 5,823

Business segments - Schedule _5

Business segments - Schedule of Segment Capital Expenditures and Reconciliation to Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total capital expenditures	$ 113,834	$ 46,752	$ 29,965
Operating Segments
Segment Reporting Information [Line Items]
Total capital expenditures	110,536	46,010	29,267
Operating Segments | Yucatán Peninsula
Segment Reporting Information [Line Items]
Total capital expenditures	14,050	13,011	10,018
Operating Segments | Pacific Coast
Segment Reporting Information [Line Items]
Total capital expenditures	56,792	15,337	4,782
Operating Segments | Dominican Republic
Segment Reporting Information [Line Items]
Total capital expenditures	5,142	9,526	8,163
Operating Segments | Jamaica
Segment Reporting Information [Line Items]
Total capital expenditures	34,552	8,136	6,304
Corporate
Segment Reporting Information [Line Items]
Total capital expenditures	$ 3,298	$ 742	$ 698

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event - Hyatt Purchase Agreement	Feb. 09, 2025 USD ($) d mo $ / shares
Subsequent Event [Line Items]
Expected price per share (in dollars per share) | $ / shares	$ 13.50
Threshold business days post commencement of offer	21
Threshold business days post extraordinary general meeting of shareholders	6
Subsequent offer, threshold business days	5
Offer extension, required threshold business days	10
Offer extension, optional threshold business days	20
Stock price, threshold trading days	20
Payment notice, threshold business days	3
Termination fee payable | $	$ 56,323,547
Transaction costs | $	$ 8,000,000
Officers And Directors
Subsequent Event [Line Items]
Ownership before transaction (in percent)	9.80%
Maximum
Subsequent Event [Line Items]
Threshold of shares available at closing (in percent)	80%
Vesting upon termination, threshold months | mo	24
Minimum
Subsequent Event [Line Items]
Threshold of shares available at closing (in percent)	75%
Vesting upon termination, threshold months | mo	12

Schedule I - Condensed Financ_2

Schedule I - Condensed Financial Information of Registrant - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 189,278	$ 272,520
Prepayments and other assets	55,065	54,294
Total assets	1,823,088	1,933,725
LIABILITIES AND SHAREHOLDERS' EQUITY
Income tax payable	15,442	11,592
Total liabilities	1,341,198	1,378,928
Total shareholders’ equity	481,890	554,797	$ 664,862	$ 630,834
Total liabilities and shareholders' equity	1,823,088	1,933,725
Parent Company
ASSETS
Cash and cash equivalents	3,102	2,492
Receivables from subsidiaries	14,906	913
Prepayments and other assets	55	447
Investment in subsidiaries	581,684	654,196
Total assets	599,747	658,048
LIABILITIES AND SHAREHOLDERS' EQUITY
Trade and other payables	669	118
Income tax payable	14,010	0
Advances from subsidiaries	103,178	103,133
Total liabilities	117,857	103,251
Total shareholders’ equity	481,890	554,797
Total liabilities and shareholders' equity	$ 599,747	$ 658,048

Schedule I - Condensed Financ_3

Schedule I - Condensed Financial Information of Registrant - Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Income Statements, Captions [Line Items]
Revenue	$ 938,569	$ 977,504	$ 856,263
Selling, general and administrative expenses	(199,367)	(192,822)	(186,608)
Reimbursed costs	(9,873)	(12,475)	(9,706)
Operating income	173,911	174,997	129,767
Other (expense) income	(1,738)	(353)	3,857
Net income before tax	81,766	65,566	51,153
Income tax provision	(7,953)	(11,714)	5,553
Net income	73,813	53,852	56,706
Parent Company
Condensed Income Statements, Captions [Line Items]
Revenue	34	342	0
Selling, general and administrative expenses	(2,935)	(14,553)	(12,827)
Reimbursed costs	(34)	(342)	0
Operating income	(2,935)	(14,553)	(12,827)
Other (expense) income	(114)	(8)	58,171
Interest income	35	203	31
Net income before tax	(3,014)	(14,358)	45,375
Income tax provision	(14,010)	0	0
Net (loss) income before equity in net income of subsidiaries	(17,024)	(14,358)	45,375
Equity in net income of subsidiaries	90,837	68,210	11,331
Net income	$ 73,813	$ 53,852	$ 56,706

Schedule I - Condensed Financ_4

Schedule I - Condensed Financial Information of Registrant - Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net cash provided by operating activities	$ 113,117	$ 136,374	$ 158,230
INVESTING ACTIVITIES
Net cash (used in) provided by investing activities	(33,191)	50,532	(27,149)
FINANCING ACTIVITIES
Repurchase of ordinary shares	(151,449)	(186,889)	(44,588)
Repurchase of ordinary shares for tax withholdings	(109)	0	0
Net cash used in financing activities	(163,168)	(198,331)	(140,713)
DECREASE IN CASH AND CASH EQUIVALENTS	(83,242)	(11,425)	(9,632)
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	272,520	283,945	293,577
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	189,278	272,520	283,945
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Par value of vested restricted share awards	282	122	182
Repurchase of ordinary shares not yet settled	0	0	1,668
Parent Company
OPERATING ACTIVITIES
Net cash provided by operating activities	152,249	191,689	48,777
INVESTING ACTIVITIES
Investment in subsidiaries	(85)	(15,400)	0
Net cash (used in) provided by investing activities	(85)	(15,400)	0
FINANCING ACTIVITIES
Repurchase of ordinary shares	(151,449)	(186,889)	(44,588)
Repurchase of ordinary shares for tax withholdings	(105)	0	0
Net cash used in financing activities	(151,554)	(186,889)	(44,588)
DECREASE IN CASH AND CASH EQUIVALENTS	610	(10,600)	4,189
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	2,492	13,092	8,903
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	3,102	2,492	13,092
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Repurchase of ordinary shares for tax withholdings	4	0	0
Par value of vested restricted share awards	282	122	182
Repurchase of ordinary shares not yet settled	$ 0	$ 0	$ 1,668

Schedule I - Condensed Financ_5

Schedule I - Condensed Financial Information of Registrant - Notes to Condensed Parent Company Only Financial Statements (Details) - Parent Company - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Cash dividends received	$ 153.3	$ 184	$ 50
Jamaica
Condensed Financial Statements, Captions [Line Items]
Non-interest bearing cash advances received from subsidiaries			$ 58.2