Playa Hotels Faces Financial Loss After Jewel Paradise Cove Sale

Playa Hotels and Resorts has encountered a significant setback following the sale of its Jewel Paradise Cove property in Runaway Bay, Jamaica, resulting in a reported financial loss. This downturn has also impacted the company’s earnings for the quarter, highlighting the broader challenges facing the business. Operating hotels across Jamaica and the Dominican Republic, Playa has faced considerable pressure due to travel advisories issued by the United States, which have dampened demand and cast a shadow over the company’s profitability.