Playa Hotels & Resorts CEO Bruce Wardinski rang the
closing bell at New York's Nasdaq MarketSite on Tuesday afternoon,
commemorating that Playa is the first public company that exclusively operates
all-inclusive resorts.
Playa, owner and operator of 13 resorts in Mexico and the
Caribbean, began public trading on March 13.
"Our arrival on Nasdaq is an important milestone for us
and marks the next step in our growth in the all-inclusive hospitality sector,"
said Wardinski at Tuesday''s event. "Today is a great moment for our
company, and importantly, it's another step forward in the evolution of our
industry."
Playa announced in December that it was going public after
reaching an agreement to merge with Pace Holding Corp., a division of
private-equity company TPG. The move enabled Playa to receive an equity
infusion of about $500 million.
Playa subsequently announced in January that it would
rebrand its Gran Caribe and Grand Porto resorts under the Panama Jack brand. The
Panama Jack conversions are scheduled to occur by this fall.
Founded in 2006, Playa had owned and operated resorts under
the Barcelo brand and AMResorts' Secrets and Dreams brands until 2013, when it
reached an agreement with Hyatt to rebrand six resorts under the new Hyatt Ziva
and Hyatt Zilara brands.
Playa plans to more than double its resort count within five
years and may do management-only contracts in addition to owning and operating
resorts.
Playa shares, which opened at $12 on March 13, closed at
$10.37 on Tuesday.