Playa Hotels & Resorts N.V. (NASDAQ:PLYA) Q3 2023 Earnings Call Transcript November 3, 2023 8:00 AM ET
Company Participants
Ryan Hymel - Executive Vice President and Chief Financial Officer
Bruce Wardinski - Chairman & Chief Executive Officer
Conference Call Participants
Chad Beynon - Macquarie
Patrick Scholes - Truist Securities
Chris Woronka - Deutsche Bank
Smedes Rose - Citi
Tyler Batory - Oppenheimer
Operator
Good day, and welcome to the Playa Hotels & Resorts Third Quarter 2023 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Ryan Hymel. Please go ahead.
Ryan Hymel
Thank you very much, Betsy. Good morning, everyone, and welcome to Playa Hotels & Resorts Third Quarter 2023 Earnings Conference Call.
Before we begin, I'd like to remind participants that many of our comments today will be considered forward-looking statements and are subject to numerous risks and uncertainties that may cause the company's actual results to differ materially from what has been communicated. Forward-looking statements made today are effective only as of today, and the company undertakes no obligation to update forward-looking statements. For a discussion of some of the factors that could cause our actual results to differ, please review the risk factors section of our quarterly report on Form 10-Q, which we filed last night with the SEC. We've updated our Investor Relations website, at investors.playaresorts.com, with the company's recent releases.
In addition, reconciliations to GAAP of the non-GAAP financial measures we discuss on this call were included in yesterday's press release. On today's call, Bruce Wardinski, Playa's Chairman and CEO, will provide comments on the third quarter demand trends and key operational highlights. I will then review our third quarter results and our outlook. Bruce will wrap up the call with some concluding remarks before we turn it over to Q&A.
With that, I'll turn the call over to Bruce.
Bruce Wardinski
Great. Thanks, Ryan. Good morning, everyone. Thank you for joining us.
Our third quarter results were in line with the expectations we shared with you on our last earnings call, led by strong performance in our Jamaica segment. Playa's owned resort EBITDA of $52.8 million in the third quarter included a significant year-over-year foreign currency exchange headwind of approximately $8 million due to the appreciation of the Mexican peso, a benefit from business interruption insurance proceeds of approximately $1 million and negative EBITDA at the Jewel resorts in the Dominican Republic.