Playa Hotels & Resorts (PLYA) 10-Q6 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Oct. 31, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-38012
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	6
Local Phone Number	82 55 84 30
Title of 12(b) Security	Ordinary Shares, €0.10 par value
Trading Symbol	PLYA
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		121,554,617
Entity Central Index Key	0001692412
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Former Address
Entity Information [Line Items]
Entity Address, Address Line One	Nieuwezijds Voorburgwal 104
Entity Address, Postal Zip Code	1012 SG
Entity Address, City or Town	Amsterdam
Entity Address, Country	NL

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 211,137	$ 272,520
Insurance recoverable	14,841	9,821
Inventories	16,450	19,963
Prepayments and other assets	63,555	54,294
Property and equipment, net	1,389,298	1,415,572
Derivative financial assets	0	2,966
Goodwill, net	60,642	60,642
Other intangible assets	2,189	4,357
Deferred tax assets	12,066	12,967
Total assets	1,817,202	1,933,725
LIABILITIES AND SHAREHOLDERS’ EQUITY
Income tax payable	16,595	11,592
Debt	1,070,759	1,061,376
Derivative financial liabilities	9,499	0
Other liabilities	28,156	33,970
Deferred tax liabilities	54,604	64,815
Total liabilities	1,320,586	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 124,554,587 shares outstanding as of September 30, 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, 47,461,835 shares as of September 30, 2024 and 33,342,089 shares as of December 31, 2023)	(374,076)	(248,174)
Paid-in capital	1,213,583	1,202,175
Accumulated other comprehensive (loss) income	(7,634)	1,112
Accumulated deficit	(354,361)	(419,138)
Total shareholders’ equity	496,616	554,797
Total liabilities and shareholders’ equity	1,817,202	1,933,725
Nonrelated Party
ASSETS
Trade and other receivables, net	46,034	74,762
LIABILITIES AND SHAREHOLDERS’ EQUITY
Trade and other payables	135,886	196,432
Related Party
ASSETS
Trade and other receivables, net	990	5,861
LIABILITIES AND SHAREHOLDERS’ EQUITY
Trade and other payables	$ 5,087	$ 10,743

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - € / shares	Sep. 30, 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)	124,554,587	136,081,891
Treasury shares, at cost (in shares)	47,461,835	33,342,089

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue
Total revenue	$ 183,517	$ 213,145	$ 719,627	$ 734,987
Direct and selling, general and administrative expenses
Direct	115,731	126,356	381,077	387,930
Selling, general and administrative	49,825	48,826	150,838	141,567
Depreciation and amortization	21,043	22,548	58,760	61,055
Reimbursed costs	1,898	2,785	7,135	9,327
(Gain) loss on sale of assets	(18,179)	6	(18,179)	17
Business interruption insurance recoveries	(47)	(47)	(97)	(542)
Gain on insurance proceeds	(651)	(919)	(2,013)	(4,713)
Direct and selling, general and administrative expenses	169,620	199,555	577,521	594,641
Operating income	13,897	13,590	142,106	140,346
Interest expense	(21,949)	(26,552)	(68,411)	(82,337)
Loss on extinguishment of debt	0	0	(1,043)	0
Other income (expense)	334	(350)	(761)	(321)
Net (loss) income before tax	(7,718)	(13,312)	71,891	57,688
Income tax benefit (provision)	4,984	2,808	(7,114)	(4,840)
Net (loss) income	$ (2,734)	$ (10,504)	$ 64,777	$ 52,848
(Loss) earnings per share
Basic (in dollars per share)	$ (0.02)	$ (0.07)	$ 0.49	$ 0.35
Diluted (in dollars per share)	$ (0.02)	$ (0.07)	$ 0.48	$ 0.34
Weighted average number of shares outstanding during the period - Basic (in shares)	127,975,787	145,469,906	132,335,399	151,536,334
Weighted average number of shares outstanding during the period - Diluted (in shares)	127,975,787	145,469,906	133,839,076	153,606,281
Package
Revenue
Total revenue	$ 154,451	$ 182,425	$ 611,136	$ 624,349
Non-package
Revenue
Total revenue	23,778	24,984	90,603	91,589
The Playa Collection
Revenue
Total revenue	1,727	1,051	4,326	2,605
Management fees
Revenue
Total revenue	1,311	1,369	5,246	5,420
Cost reimbursements
Revenue
Total revenue	1,898	2,785	7,135	9,327
Other revenues
Revenue
Total revenue	$ 352	$ 531	$ 1,181	$ 1,697

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (2,734)	$ (10,504)	$ 64,777	$ 52,848
Other comprehensive (loss) income, net of taxes
(Loss) gain on derivative financial instruments	(13,482)	2,111	(12,360)	13,564
Release of foreign currency translation reserve related to resort sales (see Note 4)	665	0	665	0
Pension obligation gain (loss)	3,151	(5)	2,949	(428)
Total other comprehensive (loss) income	(9,666)	2,106	(8,746)	13,136
Comprehensive (loss) income	$ (12,400)	$ (8,398)	$ 56,031	$ 65,984

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Ordinary Shares	Treasury Shares	Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		158,228,508
Beginning balance at Dec. 31, 2022	$ 664,862	$ 18,700	$ (62,953)	$ 1,189,090	$ (6,985)	$ (472,990)
Beginning balance (in shares) at Dec. 31, 2022			10,046,996
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	42,719					42,719
Other comprehensive income (loss)	2,677				2,677
Share-based compensation, net of tax withholdings (in shares)		1,148,476
Share-based compensation, net of tax withholdings	3,166	$ 122		3,044
Repurchase of ordinary shares (in shares)		(4,974,132)	(4,974,132)
Repurchase of ordinary shares	(40,890)		$ (40,890)
Ending balance (in shares) at Mar. 31, 2023		154,402,852
Ending balance at Mar. 31, 2023	672,534	$ 18,822	$ (103,843)	1,192,134	(4,308)	(430,271)
Ending balance (in shares) at Mar. 31, 2023			15,021,128
Beginning balance (in shares) at Dec. 31, 2022		158,228,508
Beginning balance at Dec. 31, 2022	664,862	$ 18,700	$ (62,953)	1,189,090	(6,985)	(472,990)
Beginning balance (in shares) at Dec. 31, 2022			10,046,996
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	52,848
Other comprehensive income (loss)	13,136
Ending balance (in shares) at Sep. 30, 2023		140,637,412
Ending balance at Sep. 30, 2023	589,178	$ 18,822	$ (214,572)	1,198,919	6,151	(420,142)
Ending balance (in shares) at Sep. 30, 2023			28,786,568
Beginning balance (in shares) at Mar. 31, 2023		154,402,852
Beginning balance at Mar. 31, 2023	672,534	$ 18,822	$ (103,843)	1,192,134	(4,308)	(430,271)
Beginning balance (in shares) at Mar. 31, 2023			15,021,128
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	20,633					20,633
Other comprehensive income (loss)	8,353				8,353
Share-based compensation, net of tax withholdings	3,442			3,442
Repurchase of ordinary shares (in shares)		(3,752,415)	(3,752,415)
Repurchase of ordinary shares	(34,159)		$ (34,159)
Ending balance (in shares) at Jun. 30, 2023		150,650,437
Ending balance at Jun. 30, 2023	670,803	$ 18,822	$ (138,002)	1,195,576	4,045	(409,638)
Ending balance (in shares) at Jun. 30, 2023			18,773,543
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(10,504)					(10,504)
Other comprehensive income (loss)	2,106				2,106
Share-based compensation, net of tax withholdings	3,343			3,343
Repurchase of ordinary shares (in shares)		(10,013,025)	(10,013,025)
Repurchase of ordinary shares	(76,570)		$ (76,570)
Ending balance (in shares) at Sep. 30, 2023		140,637,412
Ending balance at Sep. 30, 2023	$ 589,178	$ 18,822	$ (214,572)	1,198,919	6,151	(420,142)
Ending balance (in shares) at Sep. 30, 2023			28,786,568
Beginning balance (in shares) at Dec. 31, 2023	136,081,891	136,081,891
Beginning balance at Dec. 31, 2023	$ 554,797	$ 18,822	$ (248,174)	1,202,175	1,112	(419,138)
Beginning balance (in shares) at Dec. 31, 2023	33,342,089		33,342,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ 54,341					54,341
Other comprehensive income (loss)	6,701				6,701
Share-based compensation, net of tax withholdings (in shares)		2,579,278	13,164
Share-based compensation, net of tax withholdings	3,650	$ 282	$ (109)	3,477
Repurchase of ordinary shares (in shares)		(3,621,127)	(3,621,127)
Repurchase of ordinary shares	(32,504)		$ (32,504)
Ending balance (in shares) at Mar. 31, 2024		135,040,042
Ending balance at Mar. 31, 2024	$ 586,985	$ 19,104	$ (280,787)	1,205,652	7,813	(364,797)
Ending balance (in shares) at Mar. 31, 2024			36,976,380
Beginning balance (in shares) at Dec. 31, 2023	136,081,891	136,081,891
Beginning balance at Dec. 31, 2023	$ 554,797	$ 18,822	$ (248,174)	1,202,175	1,112	(419,138)
Beginning balance (in shares) at Dec. 31, 2023	33,342,089		33,342,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ 64,777
Other comprehensive income (loss)	$ (8,746)
Ending balance (in shares) at Sep. 30, 2024	124,554,587	124,554,587
Ending balance at Sep. 30, 2024	$ 496,616	$ 19,104	$ (374,076)	1,213,583	(7,634)	(354,361)
Ending balance (in shares) at Sep. 30, 2024	47,461,835		47,461,835
Beginning balance (in shares) at Mar. 31, 2024		135,040,042
Beginning balance at Mar. 31, 2024	$ 586,985	$ 19,104	$ (280,787)	1,205,652	7,813	(364,797)
Beginning balance (in shares) at Mar. 31, 2024			36,976,380
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	13,170					13,170
Other comprehensive income (loss)	(5,781)				(5,781)
Share-based compensation, net of tax withholdings	3,950			3,950
Repurchase of ordinary shares (in shares)		(4,079,947)	(4,079,947)
Repurchase of ordinary shares	(42,299)		$ (42,299)
Ending balance (in shares) at Jun. 30, 2024		130,960,095
Ending balance at Jun. 30, 2024	556,025	$ 19,104	$ (323,086)	1,209,602	2,032	(351,627)
Ending balance (in shares) at Jun. 30, 2024			41,056,327
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(2,734)					(2,734)
Other comprehensive income (loss)	(9,666)				(9,666)
Share-based compensation, net of tax withholdings	$ 3,981			3,981
Repurchase of ordinary shares (in shares)	(6,405,508)	(6,405,508)	(6,405,508)
Repurchase of ordinary shares	$ (50,990)		$ (50,990)
Ending balance (in shares) at Sep. 30, 2024	124,554,587	124,554,587
Ending balance at Sep. 30, 2024	$ 496,616	$ 19,104	$ (374,076)	$ 1,213,583	$ (7,634)	$ (354,361)
Ending balance (in shares) at Sep. 30, 2024	47,461,835		47,461,835

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ 64,777	$ 52,848
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization	58,760	61,055
Amortization of debt discount and issuance costs	4,504	5,168
Loss on extinguishment of debt	1,043	0
Share-based compensation	11,690	9,951
Loss on derivative financial instruments	105	6,048
Deferred income taxes	(9,310)	2,999
(Gain) loss on sale of assets	(18,179)	17
Amortization of key money	(566)	(579)
Provision for doubtful accounts	1,950	663
Other	738	313
Changes in assets and liabilities:
Insurance recoverable	(5,020)	6,273
Inventories	3,092	(332)
Prepayments and other assets	(10,451)	(11,471)
Trade and other payables	(59,460)	(57,885)
Payables to related parties	(5,656)	3,630
Income tax payable	5,003	(389)
Other liabilities	(2,009)	(33)
Net cash provided by operating activities	72,660	75,165
INVESTING ACTIVITIES
Capital expenditures	(64,477)	(30,480)
Purchase of intangibles	(225)	(190)
Payment of key money	(485)	0
Proceeds from the sale of assets, net	65,297	22
Property damage insurance proceeds	0	17,808
Net cash provided by (used in) investing activities	110	(12,840)
FINANCING ACTIVITIES
Issuance costs of debt	(14)	0
Repayments of debt	(8,250)	(8,250)
Repurchase of ordinary shares	(125,310)	(153,287)
Principal payments on finance lease obligations	(470)	(325)
Repurchase of ordinary shares for tax withholdings	(109)	0
Net cash used in financing activities	(134,153)	(161,862)
DECREASE IN CASH AND CASH EQUIVALENTS	(61,383)	(99,537)
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	272,520	283,945
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	211,137	184,408
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest, net of interest capitalized	65,323	71,494
Cash paid for income taxes, net	13,471	3,065
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Capital expenditures incurred but not yet paid	1,783	1,895
Costs of sale not yet paid	1,009	0
Withholding tax on share repurchases not yet paid	523	0
Right-of-use assets obtained in exchange for new financing lease liabilities	25,889	0
Right-of-use assets terminated in exchange for settlement of financing lease liabilities	(13,335)	0
Right-of-use assets obtained in exchange for new operating lease liabilities	0	4,155
Par value of vested restricted share awards	282	122
Nonrelated Party
Changes in assets and liabilities:
Trade and other receivables, net	26,778	(4,320)
Related Party
Changes in assets and liabilities:
Trade and other receivables, net	$ 4,871	$ 1,209

Organization, operations and ba

Organization, operations and basis of presentation	9 Months Ended
Organization, operations and basis of presentation	Sep. 30, 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 condensed consolidated financial statements (our “Condensed Consolidated Financial Statements”) to “we,” “our,” “us” and similar expressions refer to Playa and its subsidiaries. Basis of preparation, presentation and measurement Our Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements as of and for the year ended December 31, 2023, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 22, 2024 (the “Annual Report”). In our opinion, the unaudited interim Condensed Consolidated Financial Statements have been prepared on the same basis as the annual Consolidated Financial Statements and include all adjustments, consisting of only normal recurring adjustments, necessary for fair presentation.

Significant accounting policies

Significant accounting policies	9 Months Ended
Significant accounting policies	Sep. 30, 2024
Accounting Policies [Abstract]
Significant accounting policies	Significant accounting policies 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 Condensed Consolidated Statements of Comprehensive (Loss) Income and reclassified into earnings in our Condensed 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 Condensed Consolidated Statements of Cash Flows. Standards not yet 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. Annual periods beginning after December 15, 2023 We are in the process of evaluating the full impact of ASU No. 2023-07 with respect to our segment disclosures and expect to disclose significant segment expenses in the footnotes to the Consolidated Financial Statements for the year ended December 31, 2024. 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 Condensed Consolidated Financial Statements with respect to our income tax disclosures.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 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 15) ( $ in thousands) : Three Months Ended September 30, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 59,018 $ 17,675 $ 45,410 $ 32,348 $ — $ 154,451 Non-package revenue 8,712 3,102 6,395 5,569 — 23,778 The Playa Collection — — — — 1,727 1,727 Management fees 37 — — — 1,274 1,311 Cost reimbursements — — — 853 1,045 1,898 Other revenues — — — — 352 352 Total revenue $ 67,767 $ 20,777 $ 51,805 $ 38,770 $ 4,398 $ 183,517 Three Months Ended September 30, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 59,956 $ 27,234 $ 49,564 $ 45,671 $ — $ 182,425 Non-package revenue 7,623 2,935 7,661 6,765 — 24,984 The Playa Collection — — — — 1,051 1,051 Management fees 40 — — — 1,329 1,369 Cost reimbursements — — — 1,257 1,528 2,785 Other revenues — — — — 531 531 Total revenue $ 67,619 $ 30,169 $ 57,225 $ 53,693 $ 4,439 $ 213,145 Nine Months Ended September 30, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 217,235 $ 87,129 $ 173,480 $ 133,292 $ — $ 611,136 Non-package revenue 29,114 14,797 25,819 20,873 — 90,603 The Playa Collection — — — — 4,326 4,326 Management fees 113 — — — 5,133 5,246 Cost reimbursements — — — 2,845 4,290 7,135 Other revenues — — — — 1,181 1,181 Total revenue $ 246,462 $ 101,926 $ 199,299 $ 157,010 $ 14,930 $ 719,627 Nine Months Ended September 30, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 208,992 $ 97,823 $ 164,723 $ 152,811 $ — $ 624,349 Non-package revenue 26,859 12,679 26,695 25,356 — 91,589 The Playa Collection — — — — 2,605 2,605 Management fees 118 — — — 5,302 5,420 Cost reimbursements — — — 3,864 5,463 9,327 Other revenues — — — — 1,697 1,697 Total revenue $ 235,969 $ 110,502 $ 191,418 $ 182,031 $ 15,067 $ 734,987 Contract assets and liabilities We do not have any material contract assets as of September 30, 2024 and December 31, 2023 other than trade and other receivables on our Condensed Consolidated Balance Sheet. 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 14) within trade and other payables on our Condensed Consolidated Balance Sheet. Our advanced deposits are generally recognized as revenue within one year.

Property and equipment

Property and equipment	9 Months Ended
Property and equipment	Sep. 30, 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 September 30, As of December 31, 2024 2023 Property and equipment, gross Land, buildings and improvements $ 1,578,563 $ 1,646,452 Fixtures and machinery (1) 98,169 86,717 Furniture and other fixed assets 198,137 203,639 Construction in progress 65,814 22,077 Total property and equipment, gross 1,940,683 1,958,885 Accumulated depreciation (551,385) (543,313) Total property and equipment, net $ 1,389,298 $ 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 September 30, 2024 and December 31, 2023, respectively. Depreciation expense for property and equipment was $20.2 million and $22.2 million for the three months ended September 30, 2024 and 2023, respectively and $56.4 million and $60.0 million for the nine months ended September 30, 2024 and 2023, respectively. For the three and nine months ended September 30, 2024, we capitalized $0.5 million and $1.1 million of interest expense, respectively, on qualifying assets using the weighted-average interest rate of our debt. We did not capitalize any interest expense for the three and nine months ended September 30, 2023. 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 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024. Hurricane Fiona We received business interruption insurance proceeds of $2.3 million during the nine months ended September 30, 2024 related to the impact of Hurricane Fiona in September 2022. We received an additional $1.1 million of business interruption insurance proceeds in October 2024 related to Hurricane Fiona and expect to receive the remaining proceeds in 2024. Lessor contracts We rent certain real estate to third parties for office and retail space within our resorts. Our lessor contracts are considered operating leases and generally have a contractual term of one ($ in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Leases 2024 2023 2024 2023 Operating lease income (1) $ 954 $ 1,007 $ 3,134 $ 3,058 ________ (1) Our operating lease income, which is recorded within non-package revenue in the Condensed Consolidated Statements of Operations, includes variable lease revenue which is typically calculated as a percentage of our tenant’s net sales.

Income taxes

Income taxes	9 Months Ended
Income taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes We file tax returns for our entities in key jurisdictions including Mexico, the Dominican Republic, Jamaica, the United States, and the Netherlands. We are domiciled in the Netherlands and our Dutch subsidiaries are subject to a Dutch general tax rate of 25.8%. Our other operating subsidiaries are subject to tax rates of up to 30% in the jurisdictions in which they are domiciled. The Netherlands enacted the Dutch Minimum Tax Act 2024 in December 2023. The Dutch Minimum Tax Act 2024 implements measures to ensure that large multinational groups of companies pay a minimum corporate 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 from January 1, 2024. The Dutch Minimum Tax Act 2024 resulted in additional income tax expense incurred in the Netherlands. The expected impact for the year ended December 31, 2024 has been materially recognized through our income tax provision for the nine months ended September 30, 2024 and increased our effective tax rate (“ETR”) by 23.1%. As a result, our ETR was 10.0% for the nine months ended September 30, 2024 compared to 8.5% for the nine months ended September 30, 2023. 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 estimated annual effective tax rate calculation reflects the terms of the APAs that are expected to apply for the year ending December 31, 2024. We had no uncertain tax positions or unrecognized tax benefits as of September 30, 2024. We expect no significant changes in unrecognized tax benefits over the next twelve months. We regularly assess the realizability of our deferred tax assets by evaluating historical and projected future operating results, the reversal of existing temporary differences, taxable income in permitted carry back years, and the availability of tax planning strategies. As of September 30, 2024, a valuation allowance has been maintained as a reserve on a portion of our net deferred tax assets due to the uncertainty of realization of our loss carry forwards and other deferred tax assets. 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.

Related party transactions

Related party transactions	9 Months Ended
Related party transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Relationship with Hyatt 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 that 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. 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 of Directors (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. 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 three and nine months ended September 30, 2024 and 2023 were as follows ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, Related Party Transaction 2024 2023 2024 2023 Revenues Sagicor Cost reimbursements (1) $ 853 $ 1,258 $ 2,845 $ 4,005 Expenses Hyatt Franchise fees (2) $ 7,117 $ 7,531 $ 27,679 $ 26,794 Sagicor Insurance premiums (2) $ 435 $ 396 $ 1,232 $ 1,093 Chief Executive Officer Lease expense (3) $ 168 $ 186 $ 483 $ 535 AMResorts Management fees (2) $ — $ — $ — $ 41 AMResorts Marketing fees (3) $ — $ — $ — $ 37 ________ (1) Equivalent amount included as reimbursed costs in the Condensed Consolidated Statements of Operations. (2) Included in direct expense in the Condensed 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 Condensed Consolidated Statements of Operations.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
Commitments and contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies We are involved in various claims 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. 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 and proceedings will not, individually or in the aggregate, have a material effect on our Condensed 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 is jointly and severally liable for the tax liabilities of the fiscal unity as a whole.

Ordinary shares

Ordinary shares	9 Months Ended
Ordinary shares	Sep. 30, 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 three months ended September 30, 2024, we repurchased 6,405,508 ordinary shares under the program at an average price of $7.83 per share, excluding taxes. As of September 30, 2024, we had approximately $77.1 million remaining under the $200.0 million share repurchase program. As of September 30, 2024, our ordinary share capital consisted of 124,554,587 ordinary shares outstanding, which have a par value of €0.10 per share. In addition, 5,049,986 restricted shares and performance share awards and 36,272 restricted share units were outstanding under the 2017 Plan (as defined in Note 9). The holders of restricted shares and performance share awards are entitled to vote, but not to 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	9 Months Ended
Share-based compensation	Sep. 30, 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. As of September 30, 2024, there were 10,080,318 shares available for future grants under the 2017 Plan. 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). A summary of our restricted share awards from January 1, 2024 to September 30, 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 September 30, 2024 2,727,327 $ 7.58 Performance share awards consist of ordinary shares that may become earned and vested at the end of a three-year performance period based on the achievement of performance targets adopted by our Compensation Committee. Our performance shares have market conditions where either 25% or 50% of the performance share awards will vest based on the total shareholder return (“TSR”) of our ordinary shares relative to those of our peer group and either 50% or 75% will vest based on the compound annual growth rate of the price of our ordinary shares. The peer shareholder return component may vest between 0% and 200% of target, 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. The table below summarizes the key inputs used in the Monte-Carlo simulation to determine the grant date fair value of our performance share awards ($ in thousands) : Performance Award Grant Date Percentage of Total Award Grant Date Fair Value by Component Volatility (1) Interest Rate (2) Dividend Yield 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. A summary of our performance share awards from January 1, 2024 to September 30, 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 September 30, 2024 2,358,931 $ 7.35

Earnings per share

Earnings per share	9 Months Ended
Earnings per share	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic and diluted earnings per share (“EPS”) are as follows ( $ in thousands, except share data ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator Net (loss) income $ (2,734) $ (10,504) $ 64,777 $ 52,848 Denominator Denominator for basic EPS - weighted-average number of shares outstanding 127,975,787 145,469,906 132,335,399 151,536,334 Effect of dilutive securities Unvested performance share awards — — 761,068 1,196,199 Unvested restricted share awards — — 742,609 873,748 Denominator for diluted EPS - adjusted weighted-average number of shares outstanding 127,975,787 145,469,906 133,839,076 153,606,281 EPS - Basic $ (0.02) $ (0.07) $ 0.49 $ 0.35 EPS - Diluted $ (0.02) $ (0.07) $ 0.48 $ 0.34 For the three months ended September 30, 2024 and 2023, unvested performance share awards in the amounts of 2,358,931 and 2,048,350 shares, respectively, were not included in the computation of diluted EPS as their effect would have been anti-dilutive. We had no anti-dilutive unvested performance share awards for the nine months ended September 30, 2024 and 2023. The performance targets of our unvested performance share awards were partially achieved as of September 30, 2024 and 2023. For the three months ended September 30, 2024 and 2023, unvested restricted share awards of 2,727,327 and 2,793,647 shares, respectively, were not included in the computation of diluted EPS as their effect would have been anti-dilutive. We had no anti-dilutive unvested restricted share awards for the nine months ended September 30, 2024 and 2023.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Our debt consists of the following ($ in thousands) : Outstanding Balance as of Interest Rate Maturity Date September 30, 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% January 5, 2029 1,080,750 1,089,000 Total Senior Secured Credit Facilities (at stated value) 1,080,750 1,089,000 Unamortized discount (21,998) (26,466) Unamortized debt issuance costs (5,316) (6,380) Total Senior Secured Credit Facilities, net $ 1,053,436 $ 1,056,154 Finance lease obligations $ 17,323 $ 5,222 Total debt, net $ 1,070,759 $ 1,061,376 ________ (1) We had an available balance on our Revolving Credit Facility of $225.0 million as of September 30, 2024 and December 31, 2023. (2) The effective interest rate for the Term Loan due 2029 was 7.60% and 8.59% as of September 30, 2024 and December 31, 2023, respectively. Credit Agreement Amendment On June 24, 2024, we entered into the Second Amendment to Second Amended and Restated Credit Agreement (the “Second Amendment”) 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 the Secured Overnight Financing Rate (“SOFR”) plus a margin of 2.75%. All other terms of the Senior Secured Credit Facility remain unchanged. 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. The transaction costs are included in selling, general, and administrative expense in the Condensed Consolidated Statements of Operations. Finance lease obligations During the six months ended June 30, 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 Condensed 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 three months ended September 30, 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 a $11.8 million right-of-use asset and lease liability. Financial maintenance covenants We were in compliance with all applicable covenants as of September 30, 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	9 Months Ended
Derivative financial instruments	Sep. 30, 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 three and nine months ended September 30, 2024 and 2023 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 September 30, 2024, the total outstanding notional amount of the forward contracts was $166.0 million, or $3.2 billion Mexican Pesos, which will be settled monthly with maturity dates between October 2024 and December 2025. Quantitative disclosures about derivative financial instruments The following tables present the effect of our derivative financial instruments, net of tax, in the Condensed Consolidated Statements of Comprehensive (Loss) Income and Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 ($ in thousands) : Three Months Ended September 30, 2024 2023 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Change in fair value $ 4,673 $ 8,602 $ (4,054) Reclassification from AOCI to the income statement $ 1,993 $ (1,786) $ 1,943 Nine Months Ended September 30, 2024 2023 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Change in fair value $ (2,953) $ 10,479 $ (13,928) Reclassification from AOCI to the income statement $ 6,027 $ (1,193) $ 364 ________ (1) Amounts are reclassified from AOCI to interest expense. As of September 30, 2024, the total amount of net gains expected to be reclassified during the next twelve months is $0.5 million. (2) Amounts are reclassified from AOCI to direct expenses. As of September 30, 2024, the total amount of net losses expected to be reclassified during the next twelve months is $7.8 million. Derivative Financial Instruments Financial Statement Classification Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Designated as Cash Flow Hedges Interest rate swaps Interest expense $ (1,993) $ (1,943) $ (6,027) $ (3,259) Foreign currency forwards Direct expenses $ 2,145 $ — $ 2,072 $ — Not Designated as Hedging Instruments Interest rate swaps (1) Interest expense $ — $ — $ — $ 3,013 ________ (1) Includes the 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 derivative financial instruments in the Condensed Consolidated Balance Sheet as of September 30, 2024 and December 31, 2023 ($ in thousands) : Derivative Financial Instruments Financial Statement Classification As of September 30, As of December 31, 2024 2023 Designated as Cash Flow Hedges Interest rate swaps Derivative financial liabilities $ 213 $ — Foreign currency forwards Derivative financial liabilities $ 9,286 $ — Interest rate swaps Derivative financial assets $ — $ 2,966

Fair value of financial instrum

Fair value of financial instruments	9 Months Ended
Fair value of financial instruments	Sep. 30, 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 September 30, 2024 and December 31, 2023. We did not have any Level 3 instruments during any of the periods presented in our Condensed Consolidated Financial Statements. The following tables present our fair value hierarchy for our financial instruments measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 ($ in thousands) : Financial Liabilities September 30, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 213 $ — $ 213 $ — Foreign currency forwards $ 9,286 $ — $ 9,286 $ — 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 September 30, 2024 and December 31, 2023 ($ in thousands) : Carrying Value Fair Value As of September 30, 2024 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,053,436 $ — $ — $ 1,083,540 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 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.

Other balance sheet items

Other balance sheet items	9 Months Ended
Other balance sheet items	Sep. 30, 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 September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Gross trade and other receivables (1) $ 47,323 $ 75,051 Allowance for doubtful accounts (1,289) (289) Total trade and other receivables, net $ 46,034 $ 74,762 ________ (1) The opening balance as of January 1, 2023 was $63.4 million. We have not experienced any significant write-offs to our accounts receivable during the three and nine months ended September 30, 2024 and 2023. Prepayments and other assets The following summarizes the balances of prepayments and other assets as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Advances to suppliers $ 26,231 $ 18,213 Prepaid income taxes 11,791 11,510 Prepaid other taxes (1) 6,836 5,641 Operating lease right-of-use assets 5,871 6,426 Key money 6,755 6,475 Other assets 6,071 6,029 Total prepayments and other assets $ 63,555 $ 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 nor any additions to goodwill during the three and nine months ended September 30, 2024. The gross carrying values and accumulated impairment losses of goodwill by reportable segment (refer to discussion of our reportable segments in Note 15) as of September 30, 2024 and December 31, 2023 are 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 September 30, 2024 and December 31, 2023 consisted of the following ( $ in thousands ): As of September 30, 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 6,352 6,352 Other 1,601 4,674 Total gross carrying value 9,853 13,533 Accumulated amortization Management contract (594) (523) Enterprise resource planning system (5,836) (4,349) Other (1,234) (4,304) Total accumulated amortization (7,664) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,306 1,377 Enterprise resource planning system 516 2,003 Other 367 370 Total net carrying value $ 2,189 $ 4,357 ________ (1) Our casino and other licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization. Amortization expense for intangible assets was $0.8 million and $0.4 million for the three months ended September 30, 2024 and 2023, respectively, and $2.3 million and $1.1 million for the nine months ended September 30, 2024 and 2023, respectively. Trade and other payables The following summarizes the balances of trade and other payables as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Trade payables $ 20,256 $ 25,929 Advance deposits (1) 52,130 80,506 Withholding and other taxes payable 10,692 15,164 Interest payable — 2,603 Payroll and related accruals 26,211 31,466 Accrued expenses and other payables (2) 26,597 40,764 Total trade and other payables $ 135,886 $ 196,432 ________ (1) The opening balance as of January 1, 2023 was $83.3 million. (2) As of September 30, 2024 and December 31, 2023, accrued expenses and other payables includes $6.4 million and $16.8 million, respectively, of unpaid clean up and repair expenses related to Hurricane Fiona. Other liabilities The following summarizes the balances of other liabilities as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Pension obligation (1)(2) $ 5,602 $ 9,980 Operating lease liabilities 6,394 6,973 Unfavorable ground lease liability 1,666 1,748 Key money 13,558 14,331 Other 936 938 Total other liabilities $ 28,156 $ 33,970 ________ (1) For the three months ended September 30, 2024 and 2023, the service cost component of net periodic pension cost was $0.3 million and $0.3 million, respectively. For the nine months ended September 30, 2024 and 2023, the service cost component was $1.0 million and $0.9 million, respectively. (2) For the three months ended September 30, 2024 and 2023, the non-service cost components of net periodic pension cost were ($0.8) million and ($0.2) million, respectively. For the nine months ended September 30, 2024 and 2023, the non-service cost components were ($1.4) million and $1.5 million, respectively.

Business segments

Business segments	9 Months Ended
Business segments	Sep. 30, 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 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 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. For the three and nine months ended September 30, 2024 and 2023, we have excluded the immaterial amounts of management fees, cost reimbursements, The Playa Collection revenues and other from our segment reporting. The performance of our business is evaluated primarily on adjusted earnings before interest expense, income tax benefit (provision), and depreciation and amortization expense (“Adjusted EBITDA”) and the performance of our segments is evaluated on Adjusted EBITDA before corporate expenses, The Playa Collection revenue and management fees (“Owned Resort EBITDA”). Adjusted EBITDA and Owned Resort EBITDA should not be considered alternatives to net (loss) income or other measures of financial performance or liquidity derived in accordance with U.S. GAAP. We define Adjusted EBITDA as net (loss) income, determined in accordance with U.S. GAAP, for the periods presented, before interest expense, income tax benefit (provision), and depreciation and amortization expense, further adjusted to exclude the following items: (a) (gain) loss on sale of assets; (b) loss on extinguishment of debt; (c) other income (expense); (d) repairs from hurricanes and severe weather; (e) share-based compensation; (f) other tax expense; (g) transaction expenses; and (h) severance expense. Adjusted EBITDA includes corporate expenses, which are overhead costs that are essential to support the operation of the Company, including the operations and development of our resorts. There are limitations to using financial measures such as Adjusted EBITDA and Owned Resort EBITDA. For example, other companies in our industry may define Adjusted EBITDA differently than we do. As a result, it may be difficult to use Adjusted EBITDA or similarly named financial measures that other companies publish to compare the performance of those companies to our performance. Because of these limitations, Adjusted EBITDA should not be considered as a measure of the income or loss generated by our business or discretionary cash available for investment in our business and investors should carefully consider our U.S. GAAP results presented in our Condensed Consolidated Financial Statements. 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 three and nine months ended September 30, 2024 and 2023 ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Owned net revenue Yucatán Peninsula $ 65,290 $ 65,138 $ 238,366 $ 228,777 Pacific Coast 20,083 29,236 98,955 107,527 Dominican Republic 51,736 57,142 199,005 191,038 Jamaica 35,904 49,838 147,034 170,233 Segment owned net revenue 173,013 201,354 683,360 697,575 Other revenues 352 531 1,181 1,697 Management fees 1,311 1,369 5,246 5,420 The Playa Collection 1,727 1,051 4,326 2,605 Cost reimbursements 1,898 2,785 7,135 9,327 Compulsory tips 5,216 6,055 18,379 18,363 Total revenue $ 183,517 $ 213,145 $ 719,627 $ 734,987 The following table presents segment Owned Resort EBITDA, Adjusted EBITDA and a reconciliation to net (loss) income for the three and nine months ended September 30, 2024 and 2023 ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Owned Resort EBITDA Yucatán Peninsula $ 16,158 $ 16,844 $ 81,922 $ 79,107 Pacific Coast 3,178 7,947 34,443 40,353 Dominican Republic 14,041 12,673 75,966 61,501 Jamaica 3,191 15,333 43,358 64,337 Segment Owned Resort EBITDA 36,568 52,797 235,689 245,298 Other corporate (14,487) (14,706) (42,973) (42,201) The Playa Collection 1,727 1,051 4,326 2,605 Management fees 1,311 1,369 5,246 5,420 Adjusted EBITDA 25,119 40,511 202,288 211,122 Interest expense (21,949) (26,552) (68,411) (82,337) Depreciation and amortization (21,043) (22,548) (58,760) (61,055) Gain (loss) on sale of assets 18,179 (6) 18,179 (17) Loss on extinguishment of debt — — (1,043) — Other income (expense) 334 (350) (761) (321) Repairs from hurricanes and severe weather (1,935) (77) (1,935) 815 Share-based compensation (3,981) (3,343) (11,690) (9,951) Other tax expense — — (64) — Transaction expenses (278) (742) (3,106) (2,107) Severance expense (1,398) — (1,398) — Non-service cost components of net periodic pension (benefit) cost (1) (766) (205) (1,408) 1,539 Net (loss) income before tax (7,718) (13,312) 71,891 57,688 Income tax benefit (provision) 4,984 2,808 (7,114) (4,840) Net (loss) income $ (2,734) $ (10,504) $ 64,777 $ 52,848 ________ (1) Represents the non-service cost components of net periodic pension cost or benefit recorded within other income (expense) in the Condensed Consolidated Statements of Operations. We include these costs in calculating Adjusted EBITDA as they are considered part of our ongoing resort operations. The following table presents segment property and equipment, gross and a reconciliation to total property and equipment, net as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Segment property and equipment, gross Yucatán Peninsula $ 689,589 $ 683,073 Pacific Coast 342,079 305,588 Dominican Republic 456,848 541,629 Jamaica 445,237 422,772 Total segment property and equipment, gross 1,933,753 1,953,062 Corporate property and equipment, gross 6,930 5,823 Accumulated depreciation (551,385) (543,313) Total property and equipment, net $ 1,389,298 $ 1,415,572 The following table presents segment capital expenditures and a reconciliation to total capital expenditures for the nine months ended September 30, 2024 and 2023 ( $ in thousands ): Nine Months Ended September 30, 2024 2023 Segment capital expenditures Yucatán Peninsula $ 9,390 $ 8,754 Pacific Coast (2) 37,614 8,652 Dominican Republic 3,749 7,775 Jamaica (2) 27,854 5,138 Total segment capital expenditures (1) 78,607 30,319 Corporate 2,482 377 Total capital expenditures (1) $ 81,089 $ 30,696 ________ (1) Represents gross additions to property and equipment. (2)

Subsequent events

Subsequent events	9 Months Ended
Subsequent events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events During the period from October 1, 2024 through October 31, 2024, we purchased 2,999,970 ordinary shares at an average price of $8.33 per share. As of October 31, 2024, we had $52.1 million remaining under our $200.0 million share repurchase program.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net (loss) income	$ (2,734)	$ 13,170	$ 54,341	$ (10,504)	$ 20,633	$ 42,719	$ 64,777	$ 52,848

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 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

Significant accounting polici_2

Significant accounting policies (Policies)	9 Months Ended
Significant accounting policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of preparation, presentation and measurement	Basis of preparation, presentation and measurement Our Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements as of and for the year ended December 31, 2023, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 22, 2024 (the “Annual Report”). In our opinion, the unaudited interim Condensed Consolidated Financial Statements have been prepared on the same basis as the annual Consolidated Financial Statements and include all adjustments, consisting of only normal recurring adjustments, necessary for fair presentation.
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 Condensed Consolidated Statements of Comprehensive (Loss) Income and reclassified into earnings in our Condensed 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 Condensed Consolidated Statements of Cash Flows.
Standards not yet adopted	Standards not yet 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. Annual periods beginning after December 15, 2023 We are in the process of evaluating the full impact of ASU No. 2023-07 with respect to our segment disclosures and expect to disclose significant segment expenses in the footnotes to the Consolidated Financial Statements for the year ended December 31, 2024. 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 Condensed Consolidated Financial Statements with respect to our income tax disclosures.
Contract assets and liabilities	Contract assets and liabilities We do not have any material contract assets as of September 30, 2024 and December 31, 2023 other than trade and other receivables on our Condensed Consolidated Balance Sheet. 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 14) within trade and other payables on our Condensed Consolidated Balance Sheet. Our advanced deposits are generally recognized as revenue within one year.

Significant accounting polici_3

Significant accounting policies (Tables)	9 Months Ended
Significant accounting policies (Tables)	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Standards Not Yet 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. Annual periods beginning after December 15, 2023 We are in the process of evaluating the full impact of ASU No. 2023-07 with respect to our segment disclosures and expect to disclose significant segment expenses in the footnotes to the Consolidated Financial Statements for the year ended December 31, 2024. 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 Condensed Consolidated Financial Statements with respect to our income tax disclosures.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 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 15) ( $ in thousands) : Three Months Ended September 30, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 59,018 $ 17,675 $ 45,410 $ 32,348 $ — $ 154,451 Non-package revenue 8,712 3,102 6,395 5,569 — 23,778 The Playa Collection — — — — 1,727 1,727 Management fees 37 — — — 1,274 1,311 Cost reimbursements — — — 853 1,045 1,898 Other revenues — — — — 352 352 Total revenue $ 67,767 $ 20,777 $ 51,805 $ 38,770 $ 4,398 $ 183,517 Three Months Ended September 30, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 59,956 $ 27,234 $ 49,564 $ 45,671 $ — $ 182,425 Non-package revenue 7,623 2,935 7,661 6,765 — 24,984 The Playa Collection — — — — 1,051 1,051 Management fees 40 — — — 1,329 1,369 Cost reimbursements — — — 1,257 1,528 2,785 Other revenues — — — — 531 531 Total revenue $ 67,619 $ 30,169 $ 57,225 $ 53,693 $ 4,439 $ 213,145 Nine Months Ended September 30, 2024 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 217,235 $ 87,129 $ 173,480 $ 133,292 $ — $ 611,136 Non-package revenue 29,114 14,797 25,819 20,873 — 90,603 The Playa Collection — — — — 4,326 4,326 Management fees 113 — — — 5,133 5,246 Cost reimbursements — — — 2,845 4,290 7,135 Other revenues — — — — 1,181 1,181 Total revenue $ 246,462 $ 101,926 $ 199,299 $ 157,010 $ 14,930 $ 719,627 Nine Months Ended September 30, 2023 Yucatán Pacific Dominican Jamaica Other Total Package revenue $ 208,992 $ 97,823 $ 164,723 $ 152,811 $ — $ 624,349 Non-package revenue 26,859 12,679 26,695 25,356 — 91,589 The Playa Collection — — — — 2,605 2,605 Management fees 118 — — — 5,302 5,420 Cost reimbursements — — — 3,864 5,463 9,327 Other revenues — — — — 1,697 1,697 Total revenue $ 235,969 $ 110,502 $ 191,418 $ 182,031 $ 15,067 $ 734,987

Property and equipment (Tables)

Property and equipment (Tables)	9 Months Ended
Property and equipment (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The balance of property and equipment, net is as follows ($ in thousands ): As of September 30, As of December 31, 2024 2023 Property and equipment, gross Land, buildings and improvements $ 1,578,563 $ 1,646,452 Fixtures and machinery (1) 98,169 86,717 Furniture and other fixed assets 198,137 203,639 Construction in progress 65,814 22,077 Total property and equipment, gross 1,940,683 1,958,885 Accumulated depreciation (551,385) (543,313) Total property and equipment, net $ 1,389,298 $ 1,415,572 ________ (1) Includes the gross balance of our finance lease right-of-use assets, which was $18.2 million and $6.3 million as of September 30, 2024 and December 31, 2023, respectively.
Schedule of Rental Income	The following table presents our rental income for the three and nine months ended September 30, 2024 and 2023 ($ in thousands) : Three Months Ended September 30, Nine Months Ended September 30, Leases 2024 2023 2024 2023 Operating lease income (1) $ 954 $ 1,007 $ 3,134 $ 3,058 ________ (1) Our operating lease income, which is recorded within non-package revenue in the Condensed Consolidated Statements of Operations, includes variable lease revenue which is typically calculated as a percentage of our tenant’s net sales.

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
Related party transactions (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Transactions between us and related parties during the three and nine months ended September 30, 2024 and 2023 were as follows ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, Related Party Transaction 2024 2023 2024 2023 Revenues Sagicor Cost reimbursements (1) $ 853 $ 1,258 $ 2,845 $ 4,005 Expenses Hyatt Franchise fees (2) $ 7,117 $ 7,531 $ 27,679 $ 26,794 Sagicor Insurance premiums (2) $ 435 $ 396 $ 1,232 $ 1,093 Chief Executive Officer Lease expense (3) $ 168 $ 186 $ 483 $ 535 AMResorts Management fees (2) $ — $ — $ — $ 41 AMResorts Marketing fees (3) $ — $ — $ — $ 37 ________ (1) Equivalent amount included as reimbursed costs in the Condensed Consolidated Statements of Operations. (2) Included in direct expense in the Condensed 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 Condensed Consolidated Statements of Operations.

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
Share-based compensation (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Share Awards	A summary of our restricted share awards from January 1, 2024 to September 30, 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 September 30, 2024 2,727,327 $ 7.58
Schedule of Key Inputs Used in Monte-Carlo Simulation	The table below summarizes the key inputs used in the Monte-Carlo simulation to determine the grant date fair value of our performance share awards ($ in thousands) : Performance Award Grant Date Percentage of Total Award Grant Date Fair Value by Component Volatility (1) Interest Rate (2) Dividend Yield 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.
Schedule of Performance Share Awards	A summary of our performance share awards from January 1, 2024 to September 30, 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 September 30, 2024 2,358,931 $ 7.35

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
Earnings per share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic And Diluted Earnings Per Share (“EPS”)	Basic and diluted earnings per share (“EPS”) are as follows ( $ in thousands, except share data ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator Net (loss) income $ (2,734) $ (10,504) $ 64,777 $ 52,848 Denominator Denominator for basic EPS - weighted-average number of shares outstanding 127,975,787 145,469,906 132,335,399 151,536,334 Effect of dilutive securities Unvested performance share awards — — 761,068 1,196,199 Unvested restricted share awards — — 742,609 873,748 Denominator for diluted EPS - adjusted weighted-average number of shares outstanding 127,975,787 145,469,906 133,839,076 153,606,281 EPS - Basic $ (0.02) $ (0.07) $ 0.49 $ 0.35 EPS - Diluted $ (0.02) $ (0.07) $ 0.48 $ 0.34

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedules of Debt Components and Covenants	Our debt consists of the following ($ in thousands) : Outstanding Balance as of Interest Rate Maturity Date September 30, 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% January 5, 2029 1,080,750 1,089,000 Total Senior Secured Credit Facilities (at stated value) 1,080,750 1,089,000 Unamortized discount (21,998) (26,466) Unamortized debt issuance costs (5,316) (6,380) Total Senior Secured Credit Facilities, net $ 1,053,436 $ 1,056,154 Finance lease obligations $ 17,323 $ 5,222 Total debt, net $ 1,070,759 $ 1,061,376 ________ (1) We had an available balance on our Revolving Credit Facility of $225.0 million as of September 30, 2024 and December 31, 2023. (2) The effective interest rate for the Term Loan due 2029 was 7.60% and 8.59% as of September 30, 2024 and December 31, 2023, respectively. 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 instrume_2

Derivative financial instruments (Tables)	9 Months Ended
Derivative financial instruments (Tables)	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	Our interest rate swaps outstanding during the three and nine months ended September 30, 2024 and 2023 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) $800 million One-month LIBOR 2.85% March 29, 2018 March 31, 2023 ________ (1) Our LIBOR-based interest rate swaps were designated as cash flow hedges in March 2019, but were deemed ineffective in February 2020 due to the decrease in interest rates.
Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Comprehensive (Loss) Income and Condensed Consolidated Statements of Operations Operations	The following tables present the effect of our derivative financial instruments, net of tax, in the Condensed Consolidated Statements of Comprehensive (Loss) Income and Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 ($ in thousands) : Three Months Ended September 30, 2024 2023 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Change in fair value $ 4,673 $ 8,602 $ (4,054) Reclassification from AOCI to the income statement $ 1,993 $ (1,786) $ 1,943 Nine Months Ended September 30, 2024 2023 Interest rate swaps (1) Foreign currency forwards (2) Interest rate swaps Change in fair value $ (2,953) $ 10,479 $ (13,928) Reclassification from AOCI to the income statement $ 6,027 $ (1,193) $ 364 ________ (1) Amounts are reclassified from AOCI to interest expense. As of September 30, 2024, the total amount of net gains expected to be reclassified during the next twelve months is $0.5 million. (2) Amounts are reclassified from AOCI to direct expenses. As of September 30, 2024, the total amount of net losses expected to be reclassified during the next twelve months is $7.8 million. Derivative Financial Instruments Financial Statement Classification Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Designated as Cash Flow Hedges Interest rate swaps Interest expense $ (1,993) $ (1,943) $ (6,027) $ (3,259) Foreign currency forwards Direct expenses $ 2,145 $ — $ 2,072 $ — Not Designated as Hedging Instruments Interest rate swaps (1) Interest expense $ — $ — $ — $ 3,013 ________ (1) Includes the 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 derivative financial instruments in the Condensed Consolidated Balance Sheet as of September 30, 2024 and December 31, 2023 ($ in thousands) : Derivative Financial Instruments Financial Statement Classification As of September 30, As of December 31, 2024 2023 Designated as Cash Flow Hedges Interest rate swaps Derivative financial liabilities $ 213 $ — Foreign currency forwards Derivative financial liabilities $ 9,286 $ — Interest rate swaps Derivative financial assets $ — $ 2,966

Fair value of financial instr_2

Fair value of financial instruments (Tables)	9 Months Ended
Fair value of financial instruments (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets 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 September 30, 2024 and December 31, 2023 ($ in thousands) : Financial Liabilities September 30, 2024 Level 1 Level 2 Level 3 Fair value measurements on a recurring basis Interest rate swaps $ 213 $ — $ 213 $ — Foreign currency forwards $ 9,286 $ — $ 9,286 $ — 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 September 30, 2024 and December 31, 2023 ($ in thousands) : Carrying Value Fair Value As of September 30, 2024 Level 1 Level 2 Level 3 Financial liabilities not recorded at fair value Term Loan due 2029 $ 1,053,436 $ — $ — $ 1,083,540 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
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.

Other balance sheet items (Tabl

Other balance sheet items (Tables)	9 Months Ended
Other balance sheet items (Tables)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Trade and Other Receivables, Net	The following summarizes the balances of trade and other receivables, net as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Gross trade and other receivables (1) $ 47,323 $ 75,051 Allowance for doubtful accounts (1,289) (289) Total trade and other receivables, net $ 46,034 $ 74,762 ________ (1) The opening balance as of January 1, 2023 was $63.4 million.
Schedule of Prepayments and Other Assets	The following summarizes the balances of prepayments and other assets as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Advances to suppliers $ 26,231 $ 18,213 Prepaid income taxes 11,791 11,510 Prepaid other taxes (1) 6,836 5,641 Operating lease right-of-use assets 5,871 6,426 Key money 6,755 6,475 Other assets 6,071 6,029 Total prepayments and other assets $ 63,555 $ 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 15) as of September 30, 2024 and December 31, 2023 are 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, Indefinite-Lived	Other intangible assets as of September 30, 2024 and December 31, 2023 consisted of the following ( $ in thousands ): As of September 30, 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 6,352 6,352 Other 1,601 4,674 Total gross carrying value 9,853 13,533 Accumulated amortization Management contract (594) (523) Enterprise resource planning system (5,836) (4,349) Other (1,234) (4,304) Total accumulated amortization (7,664) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,306 1,377 Enterprise resource planning system 516 2,003 Other 367 370 Total net carrying value $ 2,189 $ 4,357 ________ (1) Our casino and other licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization.
Schedule of Other Intangible Assets, Finite-Lived	Other intangible assets as of September 30, 2024 and December 31, 2023 consisted of the following ( $ in thousands ): As of September 30, 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 6,352 6,352 Other 1,601 4,674 Total gross carrying value 9,853 13,533 Accumulated amortization Management contract (594) (523) Enterprise resource planning system (5,836) (4,349) Other (1,234) (4,304) Total accumulated amortization (7,664) (9,176) Net carrying value Casino and other licenses (1) — 607 Management contract 1,306 1,377 Enterprise resource planning system 516 2,003 Other 367 370 Total net carrying value $ 2,189 $ 4,357 ________ (1) Our casino and other licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization.
Schedule of Trade and Other Payables	The following summarizes the balances of trade and other payables as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Trade payables $ 20,256 $ 25,929 Advance deposits (1) 52,130 80,506 Withholding and other taxes payable 10,692 15,164 Interest payable — 2,603 Payroll and related accruals 26,211 31,466 Accrued expenses and other payables (2) 26,597 40,764 Total trade and other payables $ 135,886 $ 196,432 ________ (1) The opening balance as of January 1, 2023 was $83.3 million. (2) As of September 30, 2024 and December 31, 2023, accrued expenses and other payables includes $6.4 million and $16.8 million, respectively, of unpaid clean up and repair expenses related to Hurricane Fiona.
Schedule of Other Liabilities	The following summarizes the balances of other liabilities as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Pension obligation (1)(2) $ 5,602 $ 9,980 Operating lease liabilities 6,394 6,973 Unfavorable ground lease liability 1,666 1,748 Key money 13,558 14,331 Other 936 938 Total other liabilities $ 28,156 $ 33,970 ________ (1) For the three months ended September 30, 2024 and 2023, the service cost component of net periodic pension cost was $0.3 million and $0.3 million, respectively. For the nine months ended September 30, 2024 and 2023, the service cost component was $1.0 million and $0.9 million, respectively. (2) For the three months ended September 30, 2024 and 2023, the non-service cost components of net periodic pension cost were ($0.8) million and ($0.2) million, respectively. For the nine months ended September 30, 2024 and 2023, the non-service cost components were ($1.4) million and $1.5 million, respectively.

Business segments (Tables)

Business segments (Tables)	9 Months Ended
Business segments (Tables)	Sep. 30, 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 three and nine months ended September 30, 2024 and 2023 ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Owned net revenue Yucatán Peninsula $ 65,290 $ 65,138 $ 238,366 $ 228,777 Pacific Coast 20,083 29,236 98,955 107,527 Dominican Republic 51,736 57,142 199,005 191,038 Jamaica 35,904 49,838 147,034 170,233 Segment owned net revenue 173,013 201,354 683,360 697,575 Other revenues 352 531 1,181 1,697 Management fees 1,311 1,369 5,246 5,420 The Playa Collection 1,727 1,051 4,326 2,605 Cost reimbursements 1,898 2,785 7,135 9,327 Compulsory tips 5,216 6,055 18,379 18,363 Total revenue $ 183,517 $ 213,145 $ 719,627 $ 734,987 The following table presents segment Owned Resort EBITDA, Adjusted EBITDA and a reconciliation to net (loss) income for the three and nine months ended September 30, 2024 and 2023 ( $ in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Owned Resort EBITDA Yucatán Peninsula $ 16,158 $ 16,844 $ 81,922 $ 79,107 Pacific Coast 3,178 7,947 34,443 40,353 Dominican Republic 14,041 12,673 75,966 61,501 Jamaica 3,191 15,333 43,358 64,337 Segment Owned Resort EBITDA 36,568 52,797 235,689 245,298 Other corporate (14,487) (14,706) (42,973) (42,201) The Playa Collection 1,727 1,051 4,326 2,605 Management fees 1,311 1,369 5,246 5,420 Adjusted EBITDA 25,119 40,511 202,288 211,122 Interest expense (21,949) (26,552) (68,411) (82,337) Depreciation and amortization (21,043) (22,548) (58,760) (61,055) Gain (loss) on sale of assets 18,179 (6) 18,179 (17) Loss on extinguishment of debt — — (1,043) — Other income (expense) 334 (350) (761) (321) Repairs from hurricanes and severe weather (1,935) (77) (1,935) 815 Share-based compensation (3,981) (3,343) (11,690) (9,951) Other tax expense — — (64) — Transaction expenses (278) (742) (3,106) (2,107) Severance expense (1,398) — (1,398) — Non-service cost components of net periodic pension (benefit) cost (1) (766) (205) (1,408) 1,539 Net (loss) income before tax (7,718) (13,312) 71,891 57,688 Income tax benefit (provision) 4,984 2,808 (7,114) (4,840) Net (loss) income $ (2,734) $ (10,504) $ 64,777 $ 52,848 ________ (1) Represents the non-service cost components of net periodic pension cost or benefit recorded within other income (expense) in the Condensed Consolidated Statements of Operations. We include these costs in calculating Adjusted EBITDA as they are considered part of our ongoing resort operations. The following table presents segment property and equipment, gross and a reconciliation to total property and equipment, net as of September 30, 2024 and December 31, 2023 ($ in thousands) : As of September 30, As of December 31, 2024 2023 Segment property and equipment, gross Yucatán Peninsula $ 689,589 $ 683,073 Pacific Coast 342,079 305,588 Dominican Republic 456,848 541,629 Jamaica 445,237 422,772 Total segment property and equipment, gross 1,933,753 1,953,062 Corporate property and equipment, gross 6,930 5,823 Accumulated depreciation (551,385) (543,313) Total property and equipment, net $ 1,389,298 $ 1,415,572 The following table presents segment capital expenditures and a reconciliation to total capital expenditures for the nine months ended September 30, 2024 and 2023 ( $ in thousands ): Nine Months Ended September 30, 2024 2023 Segment capital expenditures Yucatán Peninsula $ 9,390 $ 8,754 Pacific Coast (2) 37,614 8,652 Dominican Republic 3,749 7,775 Jamaica (2) 27,854 5,138 Total segment capital expenditures (1) 78,607 30,319 Corporate 2,482 377 Total capital expenditures (1) $ 81,089 $ 30,696 ________ (1) Represents gross additions to property and equipment. (2)

Organization, operations and _2

Organization, operations and basis of presentation - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 resort
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of resorts in portfolio	24

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 183,517	$ 213,145	$ 719,627	$ 734,987
Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	154,451	182,425	611,136	624,349
Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	23,778	24,984	90,603	91,589
The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	1,727	1,051	4,326	2,605
Management fees
Disaggregation of Revenue [Line Items]
Total revenue	1,311	1,369	5,246	5,420
Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	1,898	2,785	7,135	9,327
Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	352	531	1,181	1,697
Other
Disaggregation of Revenue [Line Items]
Total revenue	4,398	4,439	14,930	15,067
Other \| Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Other \| Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Other \| The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	1,727	1,051	4,326	2,605
Other \| Management fees
Disaggregation of Revenue [Line Items]
Total revenue	1,274	1,329	5,133	5,302
Other \| Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	1,045	1,528	4,290	5,463
Other \| Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	352	531	1,181	1,697
Yucatán Peninsula \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	67,767	67,619	246,462	235,969
Yucatán Peninsula \| Operating Segments \| Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	59,018	59,956	217,235	208,992
Yucatán Peninsula \| Operating Segments \| Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	8,712	7,623	29,114	26,859
Yucatán Peninsula \| Operating Segments \| The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Yucatán Peninsula \| Operating Segments \| Management fees
Disaggregation of Revenue [Line Items]
Total revenue	37	40	113	118
Yucatán Peninsula \| Operating Segments \| Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Yucatán Peninsula \| Operating Segments \| Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Pacific Coast \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	20,777	30,169	101,926	110,502
Pacific Coast \| Operating Segments \| Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	17,675	27,234	87,129	97,823
Pacific Coast \| Operating Segments \| Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	3,102	2,935	14,797	12,679
Pacific Coast \| Operating Segments \| The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Pacific Coast \| Operating Segments \| Management fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Pacific Coast \| Operating Segments \| Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Pacific Coast \| Operating Segments \| Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Dominican Republic \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	51,805	57,225	199,299	191,418
Dominican Republic \| Operating Segments \| Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	45,410	49,564	173,480	164,723
Dominican Republic \| Operating Segments \| Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	6,395	7,661	25,819	26,695
Dominican Republic \| Operating Segments \| The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Dominican Republic \| Operating Segments \| Management fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Dominican Republic \| Operating Segments \| Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Dominican Republic \| Operating Segments \| Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Jamaica \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	38,770	53,693	157,010	182,031
Jamaica \| Operating Segments \| Package revenue
Disaggregation of Revenue [Line Items]
Total revenue	32,348	45,671	133,292	152,811
Jamaica \| Operating Segments \| Non-package revenue
Disaggregation of Revenue [Line Items]
Total revenue	5,569	6,765	20,873	25,356
Jamaica \| Operating Segments \| The Playa Collection
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Jamaica \| Operating Segments \| Management fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Jamaica \| Operating Segments \| Cost reimbursements
Disaggregation of Revenue [Line Items]
Total revenue	853	1,257	2,845	3,864
Jamaica \| Operating Segments \| Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0

Property and equipment - Schedu

Property and equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,940,683	$ 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	$ (551,385)	$ (543,313)
Total property and equipment, net	1,389,298	1,415,572
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,578,563	1,646,452
Fixtures and machinery
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	98,169	86,717
Gross balance of finance lease right-of-use asset	18,200	6,300
Furniture and other fixed assets
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	198,137	203,639
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 65,814	$ 22,077

Property and equipment - Narrat

Property and equipment - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
Property and equipment - Narrative (Details) - USD ($)	Sep. 19, 2024	Aug. 22, 2024	Oct. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessor, Lease, Description [Line Items]
Depreciation expense				$ 20,200,000	$ 22,200,000	$ 56,400,000	$ 60,000,000
Interest expense capitalized on qualifying assets				$ 500,000	$ 0	1,100,000	$ 0
Assets Held for Sale \| Jewel Palm Beach
Lessor, Lease, Description [Line Items]
Cash consideration for sale of assets		$ 68,000,000
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
Business Interruption Insurance \| Hurricane Fiona
Lessor, Lease, Description [Line Items]
Insurance proceeds						$ 2,300,000
Business Interruption Insurance \| Hurricane Fiona \| Subsequent Event
Lessor, Lease, Description [Line Items]
Insurance proceeds			$ 1,100,000
Minimum
Lessor, Lease, Description [Line Items]
Contractual term (in years)				1 year		1 year
Maximum
Lessor, Lease, Description [Line Items]
Contractual term (in years)				3 years		3 years

Property and equipment - Sche_2

Property and equipment - Schedule of Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Operating lease income	$ 954	$ 1,007	$ 3,134	$ 3,058

Income taxes (Details)

Income taxes (Details)	9 Months Ended
Income taxes (Details)	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Increase in effective income tax rate ("ETR") (in percent)	23.10%
Effective income tax rate ("ETR") (in percent)	10%	8.50%

Related party transactions - Tr

Related party transactions - Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party \| Sagicor \| Cost reimbursements
Related Party Transaction [Line Items]
Total transactions with related parties	$ 853	$ 1,258	$ 2,845	$ 4,005
Related Party \| Sagicor \| Insurance premiums
Related Party Transaction [Line Items]
Total transactions with related parties	435	396	1,232	1,093
Related Party \| Hyatt \| Franchise fees
Related Party Transaction [Line Items]
Total transactions with related parties	7,117	7,531	27,679	26,794
Related Party \| AMResorts \| Management fees
Related Party Transaction [Line Items]
Total transactions with related parties	0	0	0	41
Related Party \| AMResorts \| Marketing fees
Related Party Transaction [Line Items]
Total transactions with related parties	0	0	0	37
Chief Executive Officer \| Lease expense
Related Party Transaction [Line Items]
Total transactions with related parties	$ 168	$ 186	$ 483	$ 535

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future payments under noncancellable unconditional purchase obligation	$ 7.3

Ordinary shares - Narrative (De

Ordinary shares - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2024 € / shares $ / shares shares	Sep. 30, 2024 USD ($) shares	Dec. 31, 2023 € / shares shares
Class of Stock [Line Items]
Amount of ordinary shares reauthorized for repurchase (in shares) \| $		$ 200
Repurchase of ordinary shares (in shares)	6,405,508
Average price of shares repurchased (in dollars per share) \| $ / shares	$ 7.83
Remaining authorized amount under share repurchase program \| $		$ 77.1
Ordinary shares, outstanding (in shares)		124,554,587	136,081,891
Ordinary shares, par value (in euros per share) \| € / shares	$ 0.10		€ 0.10
Restricted Shares and Performance Share Awards
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) - shares			9 Months Ended
Share-based compensation - Narrative (Details) - shares	Feb. 08, 2024	Jan. 17, 2024	Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants under the 2017 Plan (in shares)			10,080,318
Unvested performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Award vesting rights (in percent)			100%
Award vesting rights, negative awards (in percent)			1
Unvested performance share awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)			0%
Unvested performance share awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (in percent)			200%
Peer Shareholder Return
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)		50%
Peer Shareholder Return \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)			25%
Peer Shareholder Return \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)			50%
Growth Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)	100%	50%
Growth Rate \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)			50%
Growth Rate \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of total awards vesting based on designated criteria (in percent)			75%

Share-based compensation - Summ

Share-based compensation - Summary of Restricted Share Awards and Performance Share Awards (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Unvested restricted share awards
Number of Shares
Unvested balance at beginning of period (in shares) \| shares	2,733,532
Granted (in shares) \| shares	1,456,506
Vested (in shares) \| shares	(1,417,634)
Forfeited (in shares) \| shares	(45,077)
Unvested balance at end of period (in shares) \| shares	2,727,327
Weighted-Average Grant Date Fair Value
Unvested balance at beginning of period (in dollars per share) \| $ / shares	$ 6.84
Granted (in dollars per share) \| $ / shares	8.03
Vested (in dollars per share) \| $ / shares	6.61
Forfeited (in dollars per share) \| $ / shares	7.49
Unvested balance at end of period (in dollars per share) \| $ / shares	$ 7.58
Performance Share Awards
Number of Shares
Unvested balance at beginning of period (in shares) \| shares	2,048,350
Granted (in shares) \| shares	1,509,519
Vested (in shares) \| shares	(1,174,808)
Forfeited (in shares) \| shares	(24,130)
Unvested balance at end of period (in shares) \| shares	2,358,931
Weighted-Average Grant Date Fair Value
Unvested balance at beginning of period (in dollars per share) \| $ / shares	$ 6.34
Granted (in dollars per share) \| $ / shares	7.39
Vested (in dollars per share) \| $ / shares	5.38
Forfeited (in dollars per share) \| $ / shares	6.01
Unvested balance at end of period (in dollars per share) \| $ / shares	$ 7.35

Share-based compensation - Su_2

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

Earnings per share - Basic and

Earnings per share - Basic and diluted earnings per share (“EPS”) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator
Net (loss) income	$ (2,734)	$ 13,170	$ 54,341	$ (10,504)	$ 20,633	$ 42,719	$ 64,777	$ 52,848
Denominator
Denominator for basic EPS - weighted-average number of shares outstanding (in shares)	127,975,787			145,469,906			132,335,399	151,536,334
Effect of dilutive securities
Denominator for diluted EPS - adjusted weighted-average number of shares outstanding (in shares)	127,975,787			145,469,906			133,839,076	153,606,281
EPS - Basic (in dollars per share)	$ (0.02)			$ (0.07)			$ 0.49	$ 0.35
EPS - Diluted (in dollars per share)	$ (0.02)			$ (0.07)			$ 0.48	$ 0.34
Unvested performance share awards
Effect of dilutive securities
Unvested share awards (in shares)	0			0			761,068	1,196,199
Unvested restricted share awards
Effect of dilutive securities
Unvested share awards (in shares)	0			0			742,609	873,748

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
Earnings per share - Narrative (Details) - shares	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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)	2,358,931	2,048,350	0	0
Unvested 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)	2,727,327	2,793,647	0	0

Debt - Schedule of Debt Compone

Debt - Schedule of Debt Components (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance lease obligations	$ 17,323	$ 5,222
Total debt, net	1,070,759	1,061,376
Senior Secured Credit Facilities \| Medium-term Notes
Debt Instrument [Line Items]
Total Senior Secured Credit Facilities (at stated value)	1,080,750	1,089,000
Unamortized discount	(21,998)	(26,466)
Unamortized debt issuance costs	(5,316)	(6,380)
Total Senior Secured Credit Facilities, net	$ 1,053,436	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 \| Medium-term Notes
Debt Instrument [Line Items]
Interest rate (in percent)	2.75%
Total Senior Secured Credit Facilities (at stated value)	$ 1,080,750	$ 1,089,000
Effective interest rate (in percent)	7.60%	8.59%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 24, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 0	$ 1,043	$ 0
Selling, general and administrative		49,825	$ 48,826	150,838	$ 141,567
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		14,500
Finance lease liability		14,100		14,100
Electricity and Hot Water Production
Debt Instrument [Line Items]
Gross balance of finance lease right-of-use asset		13,300		13,300
Finance lease liability		$ 13,300		$ 13,300
Term of financing lease arrangement (in years)		10 years		10 years
Liquified Natural Gas Storage
Debt Instrument [Line Items]
Term of financing lease arrangement (in years)		12 years		12 years
Electricity and Chilled and Hot Water Production
Debt Instrument [Line Items]
Gross balance of finance lease right-of-use asset		$ 11,800		$ 11,800
Finance lease liability		$ 11,800		$ 11,800
Term of financing lease arrangement (in years)		15 years		15 years
Term Loan Due 2029 \| 2022 Senior Secured Credit Facility \| Medium-term Notes
Debt Instrument [Line Items]
Decrease in basis spread on variable rate (in percent)	0.50%
Loss on extinguishment of debt	$ 1,000
Selling, general and administrative	$ 1,300
Term Loan Due 2029 \| 2022 Senior Secured Credit Facility \| Medium-term Notes \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)	1.75%
Term Loan Due 2029 \| 2022 Senior Secured Credit Facility \| Medium-term Notes \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)	2.75%

Debt - Financial Maintenance Co

Debt - Financial Maintenance Covenants (Details) - Revolving Credit Facility - Senior Secured Credit Facilities - Line of Credit	9 Months Ended
	Sep. 30, 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	Sep. 30, 2024	Sep. 30, 2023
Interest Rate Swap, Maturing April 15, 2025 \| Designated as Cash Flow Hedges \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 275	$ 275
Fixed Rate Paid (in percent)	4.05%	4.05%
Interest Rate Swap, Maturing April 15, 2026 \| Designated as Cash Flow Hedges \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 275	$ 275
Fixed Rate Paid (in percent)	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
Fixed Rate Paid (in percent)	2.85%	2.85%

Derivative financial instrume_4

Derivative financial instruments - Narrative (Details) - Sep. 30, 2024 $ in Millions, $ in Billions	USD ($)	MXN ($)
Foreign currency forwards \| Designated as Cash Flow Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 166	$ 3.2

Derivative financial instrume_5

Derivative financial instruments - Effects on Comprehensive (Loss) Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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			$ 500
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	$ 0	0	$ 3,013
Interest rate swaps \| Cash Flow Hedging \| Designated as Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(1,993)	(1,943)	(6,027)	(3,259)
Interest rate swaps \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	4,673	(4,054)	(2,953)	(13,928)
Reclassification from AOCI to the income statement	1,993	1,943	6,027	364
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			(7,800)
Foreign currency forwards \| Cash Flow Hedging \| Designated as Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	2,145	$ 0	2,072	$ 0
Foreign currency forwards \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	8,602		10,479
Reclassification from AOCI to the income statement	$ (1,786)		$ (1,193)

Derivative financial instrume_6

Derivative financial instruments - Location and Fair Value of Derivatives in Balance Sheet (Details) - Designated as Cash Flow Hedges - Cash Flow Hedging - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative financial liabilities	$ 213
Derivative financial assets		$ 2,966
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative financial liabilities	$ 9,286

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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 9,499	$ 0
Financial Assets	0	2,966
Fair value measurements on a recurring basis \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	213
Financial Assets		2,966
Fair value measurements on a recurring basis \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	9,286
Fair value measurements on a recurring basis \| Level 1 \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0
Financial Assets		0
Fair value measurements on a recurring basis \| Level 1 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0
Fair value measurements on a recurring basis \| Level 2 \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	213
Financial Assets		2,966
Fair value measurements on a recurring basis \| Level 2 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	9,286
Fair value measurements on a recurring basis \| Level 3 \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0
Financial Assets		$ 0
Fair value measurements on a recurring basis \| Level 3 \| Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 0

Fair value of financial instr_4

Fair value of financial instruments - Schedule of Financial Liabilities Not Measured at Fair Value (Details) - Term Loan Due 2029 - Medium-term Notes - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term Loan due 2029	$ 1,053,436	$ 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	$ 1,083,540	$ 1,097,081

Other balance sheet items - Sch

Other balance sheet items - Schedule of Trade and Other Receivables, Net (Details) - Nonrelated Party - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Jan. 01, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade and other receivables	$ 47,323	$ 75,051
Allowance for doubtful accounts	(1,289)	(289)	$ (63,400)
Total trade and other receivables, net	$ 46,034	$ 74,762

Other balance sheet items - S_2

Other balance sheet items - Schedule of Prepayments and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advances to suppliers	$ 26,231	$ 18,213
Prepaid income taxes	11,791	11,510
Prepaid other taxes	6,836	5,641
Operating lease right-of-use assets	$ 5,871	$ 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	$ 6,755	$ 6,475
Other assets	6,071	6,029
Total prepayments and other assets	$ 63,555	$ 54,294

Other balance sheet items - Nar

Other balance sheet items - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Other balance sheet items - Narrative (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment losses	$ 0		$ 0
Amortization expense for intangible assets	$ 800,000	$ 400,000	$ 2,300,000	$ 1,100,000

Other balance sheet items - S_3

Other balance sheet items - Schedule of Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 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_4

Other balance sheet items - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total accumulated amortization	$ (7,664)	$ (9,176)
Indefinite-lived Intangible Assets [Line Items]
Total gross carrying value	9,853	13,533
Total net carrying value	2,189	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	(594)	(523)
Net carrying value, finite-lived intangible assets	1,306	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	(5,836)	(4,349)
Net carrying value, finite-lived intangible assets	516	2,003
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	1,601	4,674
Total accumulated amortization	(1,234)	(4,304)
Net carrying value, finite-lived intangible assets	$ 367	$ 370

Other balance sheet items - S_5

Other balance sheet items - Schedule of Trade and Other Payables (Details) - Nonrelated Party - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jan. 01, 2023
Trade and Other Payables [Line Items]
Trade payables	$ 20,256	$ 25,929
Advance deposits	52,130	80,506	$ 83,300
Withholding and other taxes payable	10,692	15,164
Interest payable	0	2,603
Payroll and related accruals	26,211	31,466
Accrued expenses and other payables	26,597	40,764
Total trade and other payables	135,886	196,432
Hurricane Fiona
Trade and Other Payables [Line Items]
Repair and clean up expense	$ 6,400	$ 16,800

Other balance sheet items - S_6

Other balance sheet items - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Pension obligation	$ 5,602		$ 5,602		$ 9,980
Operating lease liabilities	6,394		6,394		6,973
Unfavorable ground lease liability	1,666		1,666		1,748
Key money	13,558		13,558		14,331
Other	936		936		938
Total other liabilities	28,156		28,156		$ 33,970
Service cost	300	$ 300	1,000	$ 900
Non-service (cost) components of net periodic pension cost	$ (800)	$ (200)	$ (1,400)	$ 1,500

Business segments - Narrative (

Business segments - Narrative (Details)	9 Months Ended
Business segments - Narrative (Details)	Sep. 30, 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	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 183,517	$ 213,145	$ 719,627	$ 734,987
Other revenues
Segment Reporting Information [Line Items]
Total revenue	352	531	1,181	1,697
Management fees
Segment Reporting Information [Line Items]
Total revenue	1,311	1,369	5,246	5,420
The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	1,727	1,051	4,326	2,605
Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	1,898	2,785	7,135	9,327
Operating Segments \| Segment owned net revenue
Segment Reporting Information [Line Items]
Total revenue	173,013	201,354	683,360	697,575
Operating Segments \| Yucatán Peninsula
Segment Reporting Information [Line Items]
Total revenue	67,767	67,619	246,462	235,969
Operating Segments \| Yucatán Peninsula \| Segment owned net revenue
Segment Reporting Information [Line Items]
Total revenue	65,290	65,138	238,366	228,777
Operating Segments \| Yucatán Peninsula \| Other revenues
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Yucatán Peninsula \| Management fees
Segment Reporting Information [Line Items]
Total revenue	37	40	113	118
Operating Segments \| Yucatán Peninsula \| The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Yucatán Peninsula \| Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Pacific Coast
Segment Reporting Information [Line Items]
Total revenue	20,777	30,169	101,926	110,502
Operating Segments \| Pacific Coast \| Segment owned net revenue
Segment Reporting Information [Line Items]
Total revenue	20,083	29,236	98,955	107,527
Operating Segments \| Pacific Coast \| Other revenues
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Pacific Coast \| Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Pacific Coast \| The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Pacific Coast \| Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Dominican Republic
Segment Reporting Information [Line Items]
Total revenue	51,805	57,225	199,299	191,418
Operating Segments \| Dominican Republic \| Segment owned net revenue
Segment Reporting Information [Line Items]
Total revenue	51,736	57,142	199,005	191,038
Operating Segments \| Dominican Republic \| Other revenues
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Dominican Republic \| Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Dominican Republic \| The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Dominican Republic \| Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Jamaica
Segment Reporting Information [Line Items]
Total revenue	38,770	53,693	157,010	182,031
Operating Segments \| Jamaica \| Segment owned net revenue
Segment Reporting Information [Line Items]
Total revenue	35,904	49,838	147,034	170,233
Operating Segments \| Jamaica \| Other revenues
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Jamaica \| Management fees
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Jamaica \| The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments \| Jamaica \| Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	853	1,257	2,845	3,864
Segment Reconciling Items \| Other revenues
Segment Reporting Information [Line Items]
Total revenue	352	531	1,181	1,697
Segment Reconciling Items \| Management fees
Segment Reporting Information [Line Items]
Total revenue	1,311	1,369	5,246	5,420
Segment Reconciling Items \| The Playa Collection
Segment Reporting Information [Line Items]
Total revenue	1,727	1,051	4,326	2,605
Segment Reconciling Items \| Cost reimbursements
Segment Reporting Information [Line Items]
Total revenue	1,898	2,785	7,135	9,327
Segment Reconciling Items \| Compulsory tips
Segment Reporting Information [Line Items]
Total revenue	$ 5,216	$ 6,055	$ 18,379	$ 18,363

Business segments - Schedule _2

Business segments - Schedule of Owned Resort EBITDA, Adjusted EBITDA and Reconciliation to Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Owned Resort EBITDA
Adjusted EBITDA	$ 25,119			$ 40,511			$ 202,288	$ 211,122
Interest expense	(21,949)			(26,552)			(68,411)	(82,337)
Depreciation and amortization	(21,043)			(22,548)			(58,760)	(61,055)
Gain (loss) on sale of assets	18,179			(6)			18,179	(17)
Loss on extinguishment of debt	0			0			(1,043)	0
Other income (expense)	334			(350)			(761)	(321)
Non-service cost components of net periodic pension (benefit) cost	(800)			(200)			(1,400)	1,500
Net (loss) income before tax	(7,718)			(13,312)			71,891	57,688
Income tax benefit (provision)	4,984			2,808			(7,114)	(4,840)
Net (loss) income	(2,734)	$ 13,170	$ 54,341	(10,504)	$ 20,633	$ 42,719	64,777	52,848
Operating Segments
Owned Resort EBITDA
Adjusted EBITDA	36,568			52,797			235,689	245,298
Operating Segments \| Yucatán Peninsula
Owned Resort EBITDA
Adjusted EBITDA	16,158			16,844			81,922	79,107
Operating Segments \| Pacific Coast
Owned Resort EBITDA
Adjusted EBITDA	3,178			7,947			34,443	40,353
Operating Segments \| Dominican Republic
Owned Resort EBITDA
Adjusted EBITDA	14,041			12,673			75,966	61,501
Operating Segments \| Jamaica
Owned Resort EBITDA
Adjusted EBITDA	3,191			15,333			43,358	64,337
Corporate, Non-Segment
Owned Resort EBITDA
Adjusted EBITDA	(14,487)			(14,706)			(42,973)	(42,201)
Segment Reconciling Items
Owned Resort EBITDA
Interest expense	(21,949)			(26,552)			(68,411)	(82,337)
Depreciation and amortization	(21,043)			(22,548)			(58,760)	(61,055)
Gain (loss) on sale of assets	18,179			(6)			18,179	(17)
Loss on extinguishment of debt	0			0			(1,043)	0
Other income (expense)	334			(350)			(761)	(321)
Repairs from hurricanes and severe weather	(1,935)			(77)			(1,935)	815
Share-based compensation	(3,981)			(3,343)			(11,690)	(9,951)
Other tax expense	0			0			(64)	0
Transaction expenses	(278)			(742)			(3,106)	(2,107)
Severance expense	(1,398)			0			(1,398)	0
Non-service cost components of net periodic pension (benefit) cost	(766)			(205)			(1,408)	1,539
Segment Reconciling Items \| The Playa Collection
Owned Resort EBITDA
Adjusted EBITDA	1,727			1,051			4,326	2,605
Segment Reconciling Items \| Management fees
Owned Resort EBITDA
Adjusted EBITDA	$ 1,311			$ 1,369			$ 5,246	$ 5,420

Business segments - Schedule _3

Business segments - Schedule of Segment Property and Equipment and Reconciliation to Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total property and equipment, gross	$ 1,940,683	$ 1,958,885
Accumulated depreciation	(551,385)	(543,313)
Total property and equipment, net	1,389,298	1,415,572
Operating Segments
Segment Reporting Information [Line Items]
Total property and equipment, gross	1,933,753	1,953,062
Operating Segments \| Yucatán Peninsula
Segment Reporting Information [Line Items]
Total property and equipment, gross	689,589	683,073
Operating Segments \| Pacific Coast
Segment Reporting Information [Line Items]
Total property and equipment, gross	342,079	305,588
Operating Segments \| Dominican Republic
Segment Reporting Information [Line Items]
Total property and equipment, gross	456,848	541,629
Operating Segments \| Jamaica
Segment Reporting Information [Line Items]
Total property and equipment, gross	445,237	422,772
Corporate
Segment Reporting Information [Line Items]
Total property and equipment, gross	$ 6,930	$ 5,823

Business segments - Schedule _4

Business segments - Schedule of Segment Capital Expenditures and Reconciliation to Capital Expenditures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total capital expenditures	$ 81,089	$ 30,696
Operating Segments
Segment Reporting Information [Line Items]
Total capital expenditures	78,607	30,319
Operating Segments \| Yucatán Peninsula
Segment Reporting Information [Line Items]
Total capital expenditures	9,390	8,754
Operating Segments \| Pacific Coast
Segment Reporting Information [Line Items]
Total capital expenditures	37,614	8,652
Operating Segments \| Dominican Republic
Segment Reporting Information [Line Items]
Total capital expenditures	3,749	7,775
Operating Segments \| Jamaica
Segment Reporting Information [Line Items]
Total capital expenditures	27,854	5,138
Corporate
Segment Reporting Information [Line Items]
Total capital expenditures	$ 2,482	$ 377

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Oct. 31, 2024	Sep. 30, 2024
Subsequent Event [Line Items]
Repurchase of ordinary shares (in shares)		6,405,508
Average price of shares repurchased (in dollars per share)		$ 7.83
Remaining authorized amount under share repurchase program		$ 77.1
Amount of ordinary shares reauthorized for repurchase (in shares)		$ 200
Subsequent Event
Subsequent Event [Line Items]
Repurchase of ordinary shares (in shares)	2,999,970
Average price of shares repurchased (in dollars per share)	$ 8.33
Remaining authorized amount under share repurchase program	$ 52.1
Amount of ordinary shares reauthorized for repurchase (in shares)	$ 200