On Wednesday, Playa Hotels & Resorts filed an S-1 form with the SEC, detailing its proposed IPO. While no prices were specified in the filing, its initial public offering is valued up to $100 million. This number, however, is likely a placeholder, and Renaissance Capital estimates the company could potentially raise $300 million.
Playa Hotels plans to list its stock on the Nasdaq Global Select Market under the ticker symbol “PLYA.” The joint underwriters for the IPO are BofA Merrill Lynch and Deutsche Bank Securities.
Playa Hotels owns 13 all-inclusive beach resorts in some of the most popular destinations throughout Mexico, the Dominican Republic, and Jamaica. The company was founded in 2006, and is based in Amsterdam, the Netherlands. It reported roughly $481 million in sales during the 12 months ended June 30, 2016, according to the filing.
The company is entering a crowded—and rapidly changing—hotel industry. Tech startups like Airbnb are transforming the way consumers travel, as well as where they choose to stay during their trips. For more information on Airbnb, check out this Zacks article: “Airbnb Could Be the Biggest IPO of 2017.”
"We believe that our resorts have a competitive advantage due to their location, extensive amenities, scale and guest-friendly design…We believe that we are well-positioned to pursue acquisitions in the all-inclusive segment of the lodging industry and further establish us as a leading owner and operator of all-inclusive resorts,” said Playa in its filing.
The company also points out its strategic relationship with Hyatt Hotels Corp. (H - Free Report) , which owns an undisclosed stake in Playa. Playa intends on using the net proceeds from the IPO to repurchase its preferred shares from Hyatt, while the remaining funds will go towards working capital and general corporate purposes.
Interested in IPOs? Check out the special edition of Zacks Friday Finish Line, where Editor Maddy Johnson and Content Writer Ryan McQueeney interview Kathleen Smith of Renaissance Capital about the IPO market in 2016.
Part One:
Part Two:
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Wednesday, Playa Hotels & Resorts filed an S-1 form with the SEC, detailing its proposed IPO. While no prices were specified in the filing, its initial public offering is valued up to $100 million. This number, however, is likely a placeholder, and Renaissance Capital estimates the company could potentially raise $300 million.
Playa Hotels plans to list its stock on the Nasdaq Global Select Market under the ticker symbol “PLYA.” The joint underwriters for the IPO are BofA Merrill Lynch and Deutsche Bank Securities.
Playa Hotels owns 13 all-inclusive beach resorts in some of the most popular destinations throughout Mexico, the Dominican Republic, and Jamaica. The company was founded in 2006, and is based in Amsterdam, the Netherlands. It reported roughly $481 million in sales during the 12 months ended June 30, 2016, according to the filing.
The company is entering a crowded—and rapidly changing—hotel industry. Tech startups like Airbnb are transforming the way consumers travel, as well as where they choose to stay during their trips. For more information on Airbnb, check out this Zacks article: “Airbnb Could Be the Biggest IPO of 2017.”
"We believe that our resorts have a competitive advantage due to their location, extensive amenities, scale and guest-friendly design…We believe that we are well-positioned to pursue acquisitions in the all-inclusive segment of the lodging industry and further establish us as a leading owner and operator of all-inclusive resorts,” said Playa in its filing.
The company also points out its strategic relationship with Hyatt Hotels Corp. (H - Free Report) , which owns an undisclosed stake in Playa. Playa intends on using the net proceeds from the IPO to repurchase its preferred shares from Hyatt, while the remaining funds will go towards working capital and general corporate purposes.
Interested in IPOs? Check out the special edition of Zacks Friday Finish Line, where Editor Maddy Johnson and Content Writer Ryan McQueeney interview Kathleen Smith of Renaissance Capital about the IPO market in 2016.
Part One:
Part Two:
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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