Playa Hotels & Resorts Shares Up 5% on Strong Q1 Results

Playa Hotels & Resorts N.V. (NYSE:PLYA) shares closed more than 5% higher on Friday following the company’s reported Q1 results, with EPS of $0.26 coming in above the consensus estimate of $0.11. Revenue was $219.57 million, beating the consensus estimate of $193.46 million.

Oppenheimer analysts believe the ADR (up 27% versus 2019) and EBITDA margin were highlights of the quarter. They view Q1 as a strong quarter and an indication that the company is executing at a high level and well positioned to take advantage of strong leisure travel trends. The company’s management commented that its booking pace remained strong during Q1, leading to an H2/22 booked revenue position well ahead of 2021.

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