Playa Hotels & Resorts N.V. (NASDAQ: PLYA) announced today that it has entered into an agreement to assume the management of the Seadust Cancun Family Resort in Mexico. Playa will manage all operations, sales and marketing of this resort.
Situated along the sand beaches of the Cancun Hotel Zone, the 502-room resort features 10 restaurants and bars, a state of-the-art fitness center and a full-service holistic spa. Seadust Cancun Family Resort will join other notable all-inclusive resorts managed by Playa Hotels & Resorts within the Hyatt Ziva, Hyatt Zilara, Hilton, Wyndham Alltra, Marriott's The Luxury Collection and Jewel brands.
"We are thrilled to welcome Seadust Cancun Family Resort to the Playa family," said Fernando Mulet, Executive Vice President and Chief Investment Officer of Playa Hotels & Resorts. "Cancun is a competitive market with a high barrier of entry and often limited opportunity for less seasoned operators. The execution of this management agreement exemplifies Playa's proficiency as a management company and is further evidence of the value and profitability that only Playa's business model and expertise can deliver."