Playa Hotels & Resorts

Playa Hotels & Resorts, S.L. will seek to create long-term shareholder value by acquiring, developing, or redeveloping all-inclusive resort assets in Mexico and other Latin American or Caribbean countries, including the Dominican Republic, Costa Rica, Panama, and Jamaica. The Company plans to focus on submarkets with high barriers to entry that appear to present moderate downside risk and a potential for long-term appreciation through aggressive asset management, re-branding of existing resorts, redevelopment, or improvement in market economics. Playa will pursue investments that it considers to have strong initial risk-adjusted returns on investment with long-term asset appreciation potential. The Company expects that its development of new resorts will be limited to several targeted markets, including Cancún, Riviera Maya, Los Cabos and Nuevo Vallarta, Mexico; Costa Rica and Jamaica.