Playa Hotels & Resorts (NASDAQ: PLYA) reported Q3 EPS of ($0.57), $0.12 worse than the analyst estimate of ($0.45).

"We have made great progress on the reopening front in recent months and couldn’t be more pleased with the underlying demand we are seeing in the leisure traveler. Our business continues to see sequential improvement as additional flight capacity is introduced into our markets and our direct marketing strategy connects with consumers. Importantly, guest response to our Playa Safe Stay safety protocols has been received particularly well, which, combined with our direct marketing efforts, should lead to share gains going forward.

Playa has opened all our resorts in Mexico and Jamaica and will be opening the remainder of our resorts during the fourth quarter, completing the reopening process for the portfolio as a whole. Mexico has maintained the most consistent travel policies, which has led to more flight capacity being added back and positioning it as one of the strongest international tourist destinations in North America.

We are maniacally focused on our cash burn and liquidity, recognizing the reopening was only the first step in the recovery. We remain focused on areas within our control and our sales and operating teams are quickly adapting to the new normal and demand trends, fine tuning along the way to set us up for success during the upcoming high season."

– Bruce D. Wardinski, Chairman and CEO of Playa Hotels & Resorts

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