Playa Hotels & Resorts N.V. (NASDAQ:PLYA) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET
Company Participants
Ryan Hymel - EVP and CFO
Bruce Wardinski - Chairman and CEO
Conference Call Participants
Chad Beynon - Macquarie
Smedes Rose - Citi
Patrick Scholes - Truist
Shaun Kelley - Bank of America
Chris Woronka - Deutsche Bank
Operator
Good day and welcome to the Playa Hotels & Resorts Q2 2024 Earnings 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]
I would now like to turn the conference over to Ryan Hymel. Please go ahead.
Ryan Hymel
Thank you very much Nick. Good morning everyone and welcome again to Playa Hotels & Resorts second quarter 2024 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.
Today's call, Bruce Wardinski, Playa's Chairman and Chief Executive Officer will provide comments on the second quarter demand trends and key operational highlights. I'll then review our second quarter results and our outlook for 2024. 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 and thank you for joining us. Our second quarter results exceeded our expectations, led by continued momentum in our Yucatan and Dominican Republic segment. The performance is highly encouraging as these two segments are largely status quo and that there is no renovation disruption in either segment or impact from any government travel warnings.
Playa's owned resort EBITDA of $75.1 million in the second quarter of 2024 included a year-over-year foreign currency exchange headwind of approximately $1.4 million due to the appreciation of the Mexican peso and a benefit from business interruption insurance proceeds of approximately $1 million.