%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.30 749.25 Td (Exhibit 99.1) Tj ET Q /GS0 gs q 125.00 0 0 95.00 243.50 649.25 cm /I1 Do Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 36 631.7720703125 m 129.66796875 631.7720703125 l s q 0 0 0 rg BT 36.00 633.65 Td (Company Contact) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 618.05 Td (R) Tj ET Q q 0 0 0 rg BT 43.52 618.05 Td (yan Hymel, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 192.27 618.05 Td (ficer) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 602.45 Td (\(571\) 529-61) Tj ET Q q 0 0 0 rg BT 98.54 602.45 Td (13) Tj ET Q 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 591.95 m 36.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 591.95 m 169.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 591.95 m 169.5 591.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 591.95 m 169.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 591.95 m 444.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 591.95 m 444.5 591.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577.5 591.95 m 577.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 591.95 m 577.5 591.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 573.95 m 36.5 555.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 573.95 m 169.5 555.95 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 573.95 m 169.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 555.95 m 169.5 555.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 573.95 m 169.5 555.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 573.95 m 444.5 555.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 555.95 m 444.5 555.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577.5 573.95 m 577.5 555.95 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 573.95 m 577.5 573.95 l s 1 1 1 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 555.95 m 577.5 555.95 l s BT /F2 14.00 Tf ET q 0 0 0 rg BT 174.00 579.97 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 338.22 579.97 Td (. Reports Second) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 242.85 565.97 Td (Quarter) Tj ET Q q 0 0 0 rg BT 291.58 565.97 Td ( 2017 Results) Tj ET Q BT /F1 10.00 Tf ET BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 522.85 Td (Fairfax, V) Tj ET Q q 0 0 0 rg BT 87.12 522.85 Td (A, ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 100.68 522.85 Td (August4, 2017) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 175.03 522.85 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 178.03 522.85 Td ( Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 321.14 522.85 Td (. \(the Company\) \(NASDAQ: PL) Tj ET Q q 0 0 0 rg BT 486.25 522.85 Td (Y) Tj ET Q q 0 0 0 rg BT 493.58 522.85 Td (A\) today ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 507.25 Td (announced results of operations for the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 225.94 507.25 Td (three and six months ended June 30, 2017) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 427.24 507.25 Td (.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 476.05 Td (Three Months Ended June 30, 2017) Tj ET Q BT /F3 12.00 Tf ET q 0 0.27058823529411763 0.48627450980392156 rg BT 214.03 476.05 Td ( Results) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 466.05 m 576 466.05 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 442.86 cm /I2 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 445.45 Td (Net Loss ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 119.33 445.45 Td (was ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 140.99 445.45 Td ($10.5 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 205.66 445.45 Td (, including ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 259.99 445.45 Td ($12.5 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 324.66 445.45 Td ( loss on extinguishment of debt, compared to Net ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 429.85 Td (Income of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 123.98 429.85 Td ($9.9 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 182.65 429.85 Td ( in the prior year) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 411.66 cm /I3 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 414.25 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 165.08 414.25 Td (AR ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 185.41 414.25 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 233.71 414.25 Td (1) Tj ET Q q 0 0 0 rg BT 239.27 414.25 Td (1.6%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 264.26 414.25 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 368.21 414.25 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 392.21 414.25 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 441.21 414.25 Td ($207.04) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 480.21 414.25 Td (, driven by ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 398.65 Td (Occupancy growth of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 178.96 398.65 Td (330) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 196.96 398.65 Td ( basis points and Net Package ) Tj ET Q q 0 0 0 rg BT 342.27 398.65 Td (ADR growth of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 420.60 398.65 Td (7.0%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 445.59 398.65 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 380.46 cm /I4 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 383.05 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 154.34 383.05 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 157.34 383.05 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 205.64 383.05 Td (20.5%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 236.64 383.05 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.59 383.05 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 364.59 383.05 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 413.58 383.05 Td ($49.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 478.25 383.05 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 364.86 cm /I5 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 367.45 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 154.34 367.45 Td ( Margin ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 199.00 367.45 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 247.30 367.45 Td (2.9) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 262.30 367.45 Td ( percentage points over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 453.55 367.45 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 477.55 367.45 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 526.54 367.45 Td (35.7%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 557.54 367.45 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 349.26 cm /I6 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 351.85 Td (Adjusted EBITDA) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 167.69 351.85 Td ( increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 218.99 351.85 Td (22.4%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 249.99 351.85 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 353.94 351.85 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 377.94 351.85 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 426.93 351.85 Td ($41.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 491.60 351.85 Td ( ) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 324.25 Td (Six Months Ended June 30, 2017) Tj ET Q BT /F3 12.00 Tf ET q 0 0.27058823529411763 0.48627450980392156 rg BT 200.71 324.25 Td ( Results) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 314.25 m 576 314.25 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 291.06 cm /I7 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 293.65 Td (Net Income ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 133.98 293.65 Td (was ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 155.64 293.65 Td ($17.1 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 220.31 293.65 Td (, including ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 274.64 293.65 Td ($12.5 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 339.31 293.65 Td ( loss on extinguishment of debt, compared to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 278.05 Td ($46.4 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 136.67 278.05 Td ( in the prior year) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 259.86 cm /I8 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 262.45 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 165.08 262.45 Td (AR ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 185.41 262.45 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 233.71 262.45 Td (9.7%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 258.71 262.45 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 362.66 262.45 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 386.66 262.45 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 435.65 262.45 Td ($238.71) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 474.65 262.45 Td (, driven by ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 246.85 Td (Occupancy growth of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 178.96 246.85 Td (430) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 196.96 246.85 Td ( basis points and Net Package ) Tj ET Q q 0 0 0 rg BT 342.27 246.85 Td (ADR growth of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 420.60 246.85 Td (4.2%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 445.59 246.85 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 228.66 cm /I9 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 231.25 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 154.34 231.25 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 157.34 231.25 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 205.64 231.25 Td (14.6%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 236.64 231.25 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.59 231.25 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 364.59 231.25 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 413.58 231.25 Td ($131.3 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 484.25 231.25 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 213.06 cm /I10 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 215.65 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 154.34 215.65 Td ( Margin ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 199.00 215.65 Td (increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 247.30 215.65 Td (1.8) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 262.30 215.65 Td ( percentage points over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 453.55 215.65 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 477.55 215.65 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 526.54 215.65 Td (42.6%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 557.54 215.65 Td ( ) Tj ET Q BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 197.46 cm /I11 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 200.05 Td (Adjusted EBITDA) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 167.69 200.05 Td ( increased ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 218.99 200.05 Td (15.1%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 249.99 200.05 Td ( over the comparable ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 353.94 200.05 Td (2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 377.94 200.05 Td ( period to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 426.93 200.05 Td ($1) Tj ET Q q 0 0 0 rg BT 438.49 200.05 Td (15.5 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 497.16 200.05 Td ( ) Tj ET Q BT /F4 12.00 Tf ET q 0 0 0 rg BT 50.80 162.05 Td (W) Tj ET Q q 0 0 0 rg BT 66.37 162.05 Td (e ar) Tj ET Q q 0 0 0 rg BT 84.92 162.05 Td (e very happy with our Q2 2017 performance on both the top and bottom line. During the period we ) Tj ET Q BT /F4 12.00 Tf ET q 0 0 0 rg BT 56.95 147.65 Td (successfully executed an exchange of our warrants, r) Tj ET Q q 0 0 0 rg BT 311.11 147.65 Td (efinanced our T) Tj ET Q q 0 0 0 rg BT 386.00 147.65 Td (erm Loan and in July closed on the ) Tj ET Q BT /F4 12.00 Tf ET q 0 0 0 rg BT 39.15 133.25 Td (acquisition of a strategic par) Tj ET Q q 0 0 0 rg BT 178.03 133.25 Td (cel of land in the Dominican Republic. W) Tj ET Q q 0 0 0 rg BT 375.55 133.25 Td (e ar) Tj ET Q q 0 0 0 rg BT 394.11 133.25 Td (e making str) Tj ET Q q 0 0 0 rg BT 452.99 133.25 Td (ong pr) Tj ET Q q 0 0 0 rg BT 484.21 133.25 Td (ogr) Tj ET Q q 0 0 0 rg BT 500.44 133.25 Td (ess on our ROI ) Tj ET Q BT /F4 12.00 Tf ET q 0 0 0 rg BT 42.35 118.85 Td (pr) Tj ET Q q 0 0 0 rg BT 52.57 118.85 Td (ojects and as we look forwar) Tj ET Q q 0 0 0 rg BT 190.46 118.85 Td (d, with appr) Tj ET Q q 0 0 0 rg BT 248.35 118.85 Td (oximately $195 million of cash on hand and full capacity available ) Tj ET Q BT /F4 12.00 Tf ET q 0 0 0 rg BT 42.10 104.45 Td (under our $100 million cr) Tj ET Q q 0 0 0 rg BT 166.32 104.45 Td (edit facility) Tj ET Q q 0 0 0 rg BT 219.97 104.45 Td (, Playa is positioned to take advantage of opportunities as they emer) Tj ET Q q 0 0 0 rg BT 548.81 104.45 Td (ge.) Tj ET Q BT /F4 12.00 Tf ET 1 1 1 rg /GS0 gs 134.00 94.18 9.00 -10.92 re f /GS0 gs q 0 0 0 rg BT 134.00 85.85 Td ( ) Tj ET Q BT /F3 12.00 Tf ET 1 1 1 rg /GS0 gs 143.00 93.98 334.94 -10.92 re f /GS0 gs q 0 0 0 rg BT 143.00 85.85 Td (Bruce D. ) Tj ET Q q 0 0 0 rg BT 190.45 85.85 Td (W) Tj ET Q q 0 0 0 rg BT 200.23 85.85 Td (ardinski, Chairman and CEO of Playa Hotels & Resorts) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 747.90 Td (Recent Developments) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 737.9 m 576 737.9 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET /GS0 gs q 18.00 0 0 16.02 54.00 710.33 cm /I12 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 713.70 Td (Playa) Tj ET Q BT /F5 16.00 Tf ET q 0 0 0 rg BT 98.66 713.70 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 103.11 713.70 Td (successfully exchanged all of the outstanding public and founder warrants for ordinary shares ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 699.30 Td (resulting in a total 6,689,309 new ordinary shares for a total of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 375.26 699.30 Td (1) Tj ET Q q 0 0 0 rg BT 380.81 699.30 Td (10,305,064) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 434.81 699.30 Td ( million shares currently ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 684.90 Td (outstanding. ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 664.91 cm /I13 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 667.50 Td (Playa closed on the acquisition of the site for the new Hyatt Zilara Cap Cana andHyatt Ziva Cap Cana ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 653.10 Td (in the luxury development of Cap Cana, inPunta Cana, Dominican Republic. ) Tj ET Q q 0 0 0 rg BT 446.04 653.10 Td (The planned luxury 750-) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 638.70 Td (room resort complex will feature both a Hyatt Zilara hotel for adults and a Hyatt Ziva hotel for guests of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 624.30 Td (all ages within the same 40 plus acres) Tj ET Q q 0 0 0 rg BT 256.05 624.30 Td ( beachfront site.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 591.30 Td (Financial and Operating Results) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 578.3 m 576 578.3 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 558.90 Td (The following table sets forth information with respect to our Occupancy) Tj ET Q q 0 0 0 rg BT 386.46 558.90 Td (, Net Package ) Tj ET Q q 0 0 0 rg BT 455.10 558.90 Td (ADR, Net Package ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 544.50 Td (RevP) Tj ET Q q 0 0 0 rg BT 60.90 544.50 Td (AR, ) Tj ET Q q 0 0 0 rg BT 83.36 544.50 Td (T) Tj ET Q q 0 0 0 rg BT 89.85 544.50 Td (otal Net Revenue, Resort EBITDA, Corporate Expenses, and ) Tj ET Q q 0 0 0 rg BT 385.44 544.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 475.10 544.50 Td ( for the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 512.75 544.50 Td (three and six ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 530.10 Td (months ended 2017 and 2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 177.32 530.10 Td ( for our portfolio:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 474.20 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 474.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 474.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 474.20 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 474.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 474.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 474.20 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 474.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 474.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 474.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 474.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 474.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 444.20 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 444.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 444.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 444.20 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 444.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 444.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 444.20 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 444.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 444.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 444.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 444.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 444.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 414.20 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 414.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 414.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 414.20 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 414.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 414.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 414.20 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 414.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 414.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 414.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 414.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 414.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 384.20 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 384.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 384.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 384.20 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 384.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 384.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 384.20 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 384.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 384.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 384.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 384.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 384.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 354.20 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 354.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 354.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 354.20 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 354.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 354.20 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 354.20 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 354.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 354.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 354.20 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 354.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 354.20 54.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161.5 488.2 m 232.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 488.2 m 236.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 488.2 m 308.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 488.2 m 442.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 488.2 m 446.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 488.2 m 517.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161.5 488.2 m 232.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161.5 474.2 m 232.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 474.2 m 308.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 474.2 m 366.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 488.2 m 442.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 474.2 m 442.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 488.2 m 446.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 488.2 m 517.5 488.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 474.2 m 517.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 474.2 m 575.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161.5 474.2 m 232.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 474.2 m 308.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 474.2 m 366.5 474.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 474.2 m 575.5 474.2 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.95 492.88 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.50 492.88 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.50 478.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.00 478.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.60 478.88 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 478.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 478.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.60 478.88 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 463.87 Td (Occupancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 463.87 Td (81.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.65 463.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.15 463.87 Td (78.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 463.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.25 463.87 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.80 463.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 463.87 Td (84.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 463.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 463.87 Td (80.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 463.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 463.87 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.80 463.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 448.87 Td (Net Package ADR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 448.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 448.87 Td (252.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 448.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 448.87 Td (236.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.25 448.87 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 448.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 448.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 448.87 Td (281.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 448.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 448.87 Td (270.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 448.87 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 448.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 433.87 Td (Net Package RevPAR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 433.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 433.87 Td (207.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 433.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 433.87 Td (185.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 433.87 Td (11.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 433.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 433.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 433.87 Td (238.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 433.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 433.87 Td (217.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 433.87 Td (9.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 433.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 418.87 Td (T) Tj ET Q q 0 0 0 rg BT 52.41 418.87 Td (otal Net Revenue ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 124.33 423.40 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 418.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 418.87 Td (137,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 418.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 418.87 Td (124,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 418.87 Td (10.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 418.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 418.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 418.87 Td (307,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 418.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 418.87 Td (281,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 418.87 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 418.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 403.87 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 111.72 403.87 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 114.22 408.40 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 403.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 403.87 Td (49,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 403.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 403.87 Td (40,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 403.87 Td (20.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 403.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 403.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 403.87 Td (131,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 403.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 403.87 Td (114,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.25 403.87 Td (14.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 403.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 388.87 Td (Resort EBITDA Margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 388.87 Td (35.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.65 388.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.15 388.87 Td (32.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 388.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.25 388.87 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.80 388.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 388.87 Td (42.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 388.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 388.87 Td (40.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 388.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 388.87 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.80 388.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 373.87 Td (Corporate Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 373.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.15 373.87 Td (8,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 373.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.15 373.87 Td (7,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 373.87 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 373.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 373.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 373.87 Td (15,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 373.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 373.87 Td (14,248) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.25 373.87 Td (11.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 373.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 358.87 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 121.72 358.87 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 124.22 363.40 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 358.87 Td (41,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 358.87 Td (33,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 358.87 Td (22.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 358.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 358.87 Td (115,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 358.87 Td (100,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.25 358.87 Td (15.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 358.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 343.87 Td (Adjusted EBITDA Margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 343.87 Td (29.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.65 343.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.15 343.87 Td (27.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 343.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.25 343.87 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.80 343.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 343.87 Td (37.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 343.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 343.87 Td (35.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 343.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.25 343.87 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.80 343.87 Td ( pts) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 45.5 319.2 m 145.5 319.2 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.50 300.70 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 300.70 Td (T) Tj ET Q q 0 0 0 rg BT 73.41 300.70 Td (otal Net Revenue represents revenue from the sale of all-inclusive packages, which include room accommodations, food and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 287.70 Td (beverage services and entertainment activities, net of compulsory tips paid to employees in Mexico and Jamaica. Government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.70 Td (mandated compulsory tips in the Dominican Republic are not included in this adjustment as they are already excluded from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 261.70 Td (revenue in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 226.56 261.70 Td (. ) Tj ET Q q 0 0 0 rg BT 231.01 261.70 Td (A) Tj ET Q q 0 0 0 rg BT 237.68 261.70 Td ( description of how we compute ) Tj ET Q q 0 0 0 rg BT 368.58 261.70 Td (T) Tj ET Q q 0 0 0 rg BT 373.99 261.70 Td (otal Net Revenue and a reconciliation of ) Tj ET Q q 0 0 0 rg BT 537.91 261.70 Td (T) Tj ET Q q 0 0 0 rg BT 543.32 261.70 Td (otal Net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 248.70 Td (Revenue to ) Tj ET Q q 0 0 0 rg BT 115.58 248.70 Td (T) Tj ET Q q 0 0 0 rg BT 120.99 248.70 Td (otal Revenue can be found in the section Definitions of Non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 416.39 248.70 Td ( Measures and Operating Statistics ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 235.70 Td (below) Tj ET Q q 0 0 0 rg BT 91.79 235.70 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.50 218.70 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 218.70 Td (A) Tj ET Q q 0 0 0 rg BT 74.67 218.70 Td ( description of how we compute Resort EBITDA) Tj ET Q q 0 0 0 rg BT 270.47 218.70 Td ( and a reconciliation of Net Income to Resort EBITDA) Tj ET Q q 0 0 0 rg BT 489.57 218.70 Td ( can be found in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 206.70 Td (section Definitions of Non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 229.28 206.70 Td ( Measures and Operating Statistics below) Tj ET Q q 0 0 0 rg BT 398.86 206.70 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.50 189.70 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 189.70 Td (A) Tj ET Q q 0 0 0 rg BT 74.67 189.70 Td ( description of how we compute ) Tj ET Q q 0 0 0 rg BT 205.20 189.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 279.91 189.70 Td ( and a reconciliation of Net Income to ) Tj ET Q q 0 0 0 rg BT 433.75 189.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 508.46 189.70 Td ( can be found in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 177.70 Td (the section Definitions of Non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 244.00 177.70 Td ( Measures and Operating Statistics below) Tj ET Q q 0 0 0 rg BT 413.58 177.70 Td (.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 141.30 Td (Balance Sheet) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 131.29999999999995 m 576 131.29999999999995 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 111.90 Td (As of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 65.33 111.90 Td (June30, 2017) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 132.33 111.90 Td (, the Company held ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 229.31 111.90 Td ($195.3 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 299.98 111.90 Td ( in cash and cash equivalents. ) Tj ET Q q 0 0 0 rg BT 444.72 111.90 Td (T) Tj ET Q q 0 0 0 rg BT 451.21 111.90 Td (otal interest-bearing debt ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 97.50 Td (was ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.66 97.50 Td ($890.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 128.33 97.50 Td (, comprised of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 200.31 97.50 Td ($530.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 270.98 97.50 Td ( of ) Tj ET Q q 0 0 0 rg BT 286.76 97.50 Td (T) Tj ET Q q 0 0 0 rg BT 293.26 97.50 Td (erm Loan B secured debt due 2024 and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 484.53 97.50 Td ($360.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 555.20 97.50 Td ( of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 83.10 Td (8.00% Senior Notes due 2020. ) Tj ET Q q 0 0 0 rg BT 184.99 83.10 Td (As of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 214.32 83.10 Td (June30, 2017) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 281.31 83.10 Td (, there were no amounts outstanding on the Company) Tj ET Q q 0 0 0 rg BT 540.93 83.10 Td (s ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 68.70 Td ($100.0 million Revolving Credit Facility) Tj ET Q q 0 0 0 rg BT 231.54 68.70 Td (. ) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 747.70 Td (On ) Tj ET Q q 0 0 0 rg BT 53.00 747.70 Td (April 27, 2017, we refinanced our senior secured credit facility) Tj ET Q q 0 0 0 rg BT 354.45 747.70 Td (, consisting of our ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 444.11 747.70 Td ($530.0 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 514.78 747.70 Td ( New ) Tj ET Q q 0 0 0 rg BT 543.22 747.70 Td (T) Tj ET Q q 0 0 0 rg BT 549.71 747.70 Td (erm ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 733.30 Td (Loan priced at 99.75% of the principal amount and our Revolving Credit Facility with a maximum aggregate ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 718.90 Td (borrowing capacity of $100.0 million. ) Tj ET Q q 0 0 0 rg BT 221.41 718.90 Td (The proceeds received from the new ) Tj ET Q q 0 0 0 rg BT 399.11 718.90 Td (T) Tj ET Q q 0 0 0 rg BT 405.60 718.90 Td (erm Loan were used to repay our ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 704.50 Td (existing term loan and $1) Tj ET Q q 0 0 0 rg BT 157.53 704.50 Td (15.0 million of our Senior Notes due 2020.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 646.90 Td (Earnings Call) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 633.9 m 576 633.9 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 614.50 Td (The Company will host a conference call to discuss its second quarter results on Friday) Tj ET Q q 0 0 0 rg BT 453.79 614.50 Td (, ) Tj ET Q q 0 0 0 rg BT 459.12 614.50 Td (August 4, 2017 at 9:00 ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 600.10 Td (a.m. \(Eastern ) Tj ET Q q 0 0 0 rg BT 102.42 600.10 Td (T) Tj ET Q q 0 0 0 rg BT 109.33 600.10 Td (ime\). ) Tj ET Q q 0 0 0 rg BT 137.10 600.10 Td (The conference call can be accessed by dialing ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 364.98 600.10 Td (\(866\) 393-5826 ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 442.97 600.10 Td (for domestic participants ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 585.70 Td (and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 56.33 585.70 Td (\(954\) 320-0070) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 131.31 585.70 Td ( for international participants. ) Tj ET Q q 0 0 0 rg BT 276.71 585.70 Td (The conference ID number is ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 420.32 585.70 Td (58857073) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 468.32 585.70 Td (. ) Tj ET Q q 0 0 0 rg BT 473.65 585.70 Td (Additionally) Tj ET Q q 0 0 0 rg BT 533.54 585.70 Td (, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 571.30 Td (interested parties may listen to a taped replay of the entire conference call commencing two hours after the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 556.90 Td (call) Tj ET Q q 0 0 0 rg BT 56.65 556.90 Td (s completion on Friday) Tj ET Q q 0 0 0 rg BT 166.86 556.90 Td (, ) Tj ET Q q 0 0 0 rg BT 172.20 556.90 Td (August 4, 2017. ) Tj ET Q q 0 0 0 rg BT 251.65 556.90 Td (This replay will run through Friday) Tj ET Q q 0 0 0 rg BT 420.52 556.90 Td (, ) Tj ET Q q 0 0 0 rg BT 425.85 556.90 Td (August 18, 2017. ) Tj ET Q q 0 0 0 rg BT 514.31 556.90 Td (The access ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 542.50 Td (number for a taped replay of the conference call is ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 280.55 542.50 Td (\(855\) 859-2056) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 355.54 542.50 Td ( or ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 371.53 542.50 Td (\(404\) 537-3406) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 446.52 542.50 Td ( using the same ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 528.10 Td (conference ID number) Tj ET Q q 0 0 0 rg BT 143.28 528.10 Td (. ) Tj ET Q q 0 0 0 rg BT 149.06 528.10 Td (There will also be a webcast of the conference call accessible on the Company) Tj ET Q q 0 0 0 rg BT 529.24 528.10 Td (s investor ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 513.70 Td (relations website at ) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0.43137254901960786 0.7490196078431373 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 131.63671875 512.100390625 m 287.82421875 512.100390625 l s q 0 0.43137254901960786 0.7490196078431373 rg BT 131.64 513.70 Td (www) Tj ET Q q 0 0.43137254901960786 0.7490196078431373 rg BT 156.86 513.70 Td (.investors.playaresorts.com) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 287.82 513.70 Td (.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 480.70 Td (About the Company) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 467.7 m 576 467.7 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 448.30 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 170.11 448.30 Td (. \(Playa\) is a leading owner) Tj ET Q q 0 0 0 rg BT 311.57 448.30 Td (, operator and developer of all-inclusive resorts in ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 433.90 Td (prime beachfront locations in popular vacation destinations in Mexico and the Caribbean. Playa owns a ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 419.50 Td (portfolio consisting of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 145.66 419.50 Td (13) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 157.66 419.50 Td ( resorts \() Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 199.65 419.50 Td (6,130) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 226.65 419.50 Td ( rooms\) located in Mexico, the Dominican Republic and Jamaica. Playa ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 405.10 Td (owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 390.70 Td (Ziva Puerto ) Tj ET Q q 0 0 0 rg BT 95.10 390.70 Td (V) Tj ET Q q 0 0 0 rg BT 102.44 390.70 Td (allarta and Hyatt Ziva Los Cabos. Playa also owns and operates three resorts under Playa) Tj ET Q q 0 0 0 rg BT 533.31 390.70 Td (s brands, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 376.30 Td (THE Royal and Gran, as well as five resorts in Mexico and the Dominican Republic that are managed by a third ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 361.90 Td (party) Tj ET Q q 0 0 0 rg BT 59.88 361.90 Td (.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 344.50 Td (Definitions of Non-U.S. GAAP) Tj ET Q q 0 0.27058823529411763 0.48627450980392156 rg BT 188.57 344.50 Td ( Measures and Operating Statistics) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 334.5 m 576 334.5 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 315.10 Td (Occupancy) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 297.70 Td (Occupancy represents the total number of rooms sold for a period divided by the total number of rooms ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 283.30 Td (available during such period. Occupancy is a useful measure of the utilization of a resort) Tj ET Q q 0 0 0 rg BT 473.19 283.30 Td (s total available ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 268.90 Td (capacity and can be used to gauge demand at a specific resort or group of properties for a period. Occupancy ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 254.50 Td (levels also enable us to optimize Net Package ) Tj ET Q q 0 0 0 rg BT 266.27 254.50 Td (ADR by increasing or decreasing the stated rate for our all-) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 240.10 Td (inclusive packages as demand for a resort increases or decreases.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 213.70 Td (Net Package ) Tj ET Q q 0 0 0 rg BT 100.86 213.70 Td (A) Tj ET Q q 0 0 0 rg BT 107.98 213.70 Td (verage Daily Rate \(Net Package ) Tj ET Q q 0 0 0 rg BT 273.81 213.70 Td (ADR\)) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 193.30 Td (Net Package ) Tj ET Q q 0 0 0 rg BT 112.97 193.30 Td (ADR represents total net package revenue for a period divided by the total number of rooms ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 178.90 Td (sold during such period. Net Package ) Tj ET Q q 0 0 0 rg BT 226.63 178.90 Td (ADR trends and patterns provide useful information concerning the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 164.50 Td (pricing environment and the nature of the guest base of our total portfolio or comparable portfolio, as ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 150.10 Td (applicable. Net Package ) Tj ET Q q 0 0 0 rg BT 162.95 150.10 Td (ADR is a commonly used performance measure in the all-inclusive segment of the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 135.70 Td (lodging industry) Tj ET Q q 0 0 0 rg BT 123.22 135.70 Td (, and is commonly used to assess the stated rates that guests are willing to pay through various ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 121.30 Td (distribution channels.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 94.90 Td (Net Package Revenue per ) Tj ET Q q 0 0 0 rg BT 165.52 94.90 Td (A) Tj ET Q q 0 0 0 rg BT 172.63 94.90 Td (vailable Room \(Net Package RevP) Tj ET Q q 0 0 0 rg BT 347.02 94.90 Td (AR\)) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 74.50 Td ("Net Package RevP) Tj ET Q q 0 0 0 rg BT 138.11 74.50 Td (AR" is the product of Net Package ) Tj ET Q q 0 0 0 rg BT 306.63 74.50 Td (ADR \(as defined above\) and the average daily ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 60.10 Td (occupancy percentage. Net Package RevP) Tj ET Q q 0 0 0 rg BT 245.47 60.10 Td (AR does not reflect the impact of non-package revenue. ) Tj ET Q q 0 0 0 rg BT 516.04 60.10 Td (Although ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 45.70 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 133.21 45.70 Td (AR does not include this additional revenue, it generally is considered the key performance ) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 747.70 Td (measure in the all-inclusive segment of the lodging industry to identify trend information with respect to net ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 733.30 Td (room revenue produced by our portfolio or comparable portfolio, as applicable, and to evaluate operating ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 718.90 Td (performance on a consolidated basis or a regional basis, as applicable. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 692.50 Td (Net Revenue, Net Package Revenue and Net Non-package Revenue ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 672.10 Td (W) Tj ET Q q 0 0 0 rg BT 60.37 672.10 Td (e derive net revenue from the sale of all-inclusive packages, which include room accommodations, food ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 657.70 Td (and beverage services and entertainment activities, net of compulsory tips paid to employees in Mexico and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 643.30 Td (Jamaica. Government mandated compulsory tips in the Dominican Republic are not included in this ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 628.90 Td (adjustment, as they are already excluded from revenue. Net revenue is recognized when the rooms are ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 614.50 Td (occupied and/or the relevant services have been rendered. ) Tj ET Q q 0 0 0 rg BT 329.53 614.50 Td (Advance deposits received from guests are ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 600.10 Td (deferred and included in trade and other payables until the rooms are occupied and/or the relevant services ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 585.70 Td (have been rendered, at which point the revenue is recognized. Food and beverage revenue not included in a ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 571.30 Td (guest) Tj ET Q q 0 0 0 rg BT 78.66 571.30 Td (s all-inclusive package is recognized when the goods are consumed. Net revenue represents a key ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 556.90 Td (indicator to assess the overall performance of our business and analyze trends, such as consumer demand, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 542.50 Td (brand preference and competition.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 522.10 Td (In analyzing our results, our management dif) Tj ET Q q 0 0 0 rg BT 265.38 522.10 Td (ferentiates between Net Package Revenue and Net Non-package ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 507.70 Td (Revenue \(as such terms are defined below\). Guests at our resorts purchase packages at stated rates, which ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 493.30 Td (include room accommodations, food and beverage services and entertainment activities, in contrast to other ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 478.90 Td (lodging business models, which typically only include the room accommodations in the stated rate. ) Tj ET Q q 0 0 0 rg BT 529.02 478.90 Td (The ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 464.50 Td (amenities at all-inclusive resorts typically include a variety of buf) Tj ET Q q 0 0 0 rg BT 364.68 464.50 Td (fet and la carte restaurants, bars, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (activities, and shows and entertainment throughout the day) Tj ET Q q 0 0 0 rg BT 331.82 450.10 Td (. Net Package Revenue consists of net revenues ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 435.70 Td (derived from all-inclusive packages purchased by our guests. Net Non-package Revenue primarily ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 421.30 Td (includes net revenue associated with guests' purchases of upgrades, premium services and amenities, such as ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 406.90 Td (premium rooms, dining experiences, wines and spirits and spa packages, which are not included in the all-) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 392.50 Td (inclusive package.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (The following table shows a reconciliation of ) Tj ET Q q 0 0 0 rg BT 270.72 366.10 Td (T) Tj ET Q q 0 0 0 rg BT 277.21 366.10 Td (otal Net Revenue to ) Tj ET Q q 0 0 0 rg BT 375.63 366.10 Td (T) Tj ET Q q 0 0 0 rg BT 382.13 366.10 Td (otal Revenue for the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 482.76 366.10 Td (three and six ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 351.70 Td (months ended 2017 and 2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 191.32 351.70 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 305.20 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 305.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 305.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 305.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 305.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 305.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 305.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 305.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.20 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 275.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 275.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 275.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 275.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 275.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 275.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 275.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.20 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 245.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 245.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 245.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 245.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 245.20 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 245.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 245.20 81.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 320.20000000000005 m 306 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 320.20000000000005 m 310 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 320.20000000000005 m 391 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 320.20000000000005 m 476 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 320.20000000000005 m 480 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 320.20000000000005 m 561 320.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 305.20000000000005 m 306 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 305.20000000000005 m 391 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 305.20000000000005 m 476 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 305.20000000000005 m 561 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 305.20000000000005 m 476 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 305.20000000000005 m 561 305.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 275.20000000000005 m 306 275.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 275.20000000000005 m 391 275.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 275.20000000000005 m 476 275.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 275.20000000000005 m 561 275.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 245.20000000000005 m 306 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 230.20000000000005 m 306 230.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 245.20000000000005 m 391 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 230.20000000000005 m 391 230.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 245.20000000000005 m 476 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 230.20000000000005 m 476 230.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 245.20000000000005 m 561 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 230.20000000000005 m 561 230.20000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.95 324.88 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.00 324.88 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 309.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.00 309.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.00 309.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.00 309.88 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.87 Td (Total Net Package Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 294.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.65 294.87 Td (115,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 294.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 294.87 Td (103,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.50 294.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 294.87 Td (265,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 294.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 294.87 Td (243,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.87 Td (Total Net Non-package Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 279.87 Td (21,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.65 279.87 Td (20,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 279.87 Td (42,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 279.87 Td (37,846) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 264.88 Td (Total Net Revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 264.88 Td (137,415) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.65 264.88 Td (124,241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 264.88 Td (307,925) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.65 264.88 Td (281,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 249.87 Td (Plus: Compulsory Tips) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 249.87 Td (3,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 249.87 Td (3,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 249.87 Td (6,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 249.87 Td (6,158) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 234.88 Td (Total Revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.50 234.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 234.88 Td (140,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.50 234.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.65 234.88 Td (127,300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 234.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 234.88 Td (314,665) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 234.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.65 234.88 Td (287,256) Tj ET Q BT /F1 10.00 Tf ET BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 204.30 Td (EBITDA, ) Tj ET Q q 0 0 0 rg BT 86.23 204.30 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 176.59 204.30 Td ( and Resort EBITDA) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 177.90 Td (W) Tj ET Q q 0 0 0 rg BT 55.37 177.90 Td (e define EBITDA, a non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 233.55 177.90 Td ( financial measure, as net income \(loss\), determined in accordance ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 163.50 Td (with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 125.02 163.50 Td (, for the period presented, before interest expense, income tax and depreciation and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 149.10 Td (amortization expense. ) Tj ET Q q 0 0 0 rg BT 153.08 149.10 Td (W) Tj ET Q q 0 0 0 rg BT 163.44 149.10 Td (e define ) Tj ET Q q 0 0 0 rg BT 204.09 149.10 Td (Adjusted EBITDA, a non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 387.30 149.10 Td ( financial measure, as EBITDA) Tj ET Q q 0 0 0 rg BT 537.58 149.10 Td ( further ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 134.70 Td (adjusted to exclude the following items:) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 105.71 cm /I14 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 108.30 Td (Other expense \(income\), net ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 91.31 cm /I15 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 93.90 Td (Impairment loss ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 76.91 cm /I16 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 79.50 Td (Management termination fees ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 62.51 cm /I17 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 65.10 Td (Pre-opening expenses) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 48.11 cm /I18 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 50.70 Td (T) Tj ET Q q 0 0 0 rg BT 78.91 50.70 Td (ransaction expenses ) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 745.11 cm /I19 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 747.70 Td (Severance expenses ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 730.71 cm /I20 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 733.30 Td (Other tax expense ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 716.31 cm /I21 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 718.90 Td (Insurance proceeds ) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 701.91 cm /I22 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 704.50 Td (Share-based compensation expense) Tj ET Q BT /F1 12.00 Tf ET /GS0 gs q 18.00 0 0 11.91 54.00 687.51 cm /I23 Do Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.00 690.10 Td (Loss \(gain\) on extinguishment of debt) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 661.30 Td (W) Tj ET Q q 0 0 0 rg BT 55.37 661.30 Td (e define Resort EBITDA) Tj ET Q q 0 0 0 rg BT 174.33 661.30 Td ( as ) Tj ET Q q 0 0 0 rg BT 189.67 661.30 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 279.33 661.30 Td ( before corporate expenses.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 634.90 Td (W) Tj ET Q q 0 0 0 rg BT 55.37 634.90 Td (e believe that ) Tj ET Q q 0 0 0 rg BT 121.67 634.90 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 211.33 634.90 Td ( is useful to investors for two principal reasons. First, we believe ) Tj ET Q q 0 0 0 rg BT 526.94 634.90 Td (Adjusted ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 620.50 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 88.33 620.50 Td ( assists investors in comparing our performance over various reporting periods on a consistent basis ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 606.10 Td (by removing from our operating results the impact of items that do not reflect our core operating performance. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 591.70 Td (For example, changes in foreign exchange rates \(which are the principal driver of changes in other expense ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 577.30 Td (\(income\), net\), and expenses related to capital raising, strategic initiatives and other corporate initiatives, such ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 562.90 Td (as expansion into new markets \(which are the principal drivers of changes in transaction expenses\), are not ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 548.50 Td (indicative of the operating performance of our resorts. ) Tj ET Q q 0 0 0 rg BT 307.68 548.50 Td (The other adjustments included in our definition of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 534.10 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 134.66 534.10 Td ( relate to items that occur infrequently and therefore would obstruct the comparability of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 519.70 Td (our operating results over reporting periods. For example, impairment losses, such as those resulting from ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 505.30 Td (hurricane damage, and related revenue from insurance policies, other than business interruption insurance ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 490.90 Td (policies, as well as expenses incurred in connection with closing or reopening resorts that under) Tj ET Q q 0 0 0 rg BT 504.32 490.90 Td (go expansions ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 476.50 Td (or renovations, are infrequent in nature, and we believe excluding these expense and revenue items permits ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 462.10 Td (investors to better evaluate the core operating performance of our resorts over time. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 435.70 Td (The second principal reason that we believe ) Tj ET Q q 0 0 0 rg BT 257.92 435.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 347.58 435.70 Td ( is useful to investors is that it is considered a ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 421.30 Td (key performance indicator by our board of directors \(our "Board"\) and management. In addition, the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 406.90 Td (compensation committee of our Board determines the annual variable compensation for certain members of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 392.50 Td (our management based, in part, on consolidated ) Tj ET Q q 0 0 0 rg BT 276.60 392.50 Td (Adjusted EBITDA. ) Tj ET Q q 0 0 0 rg BT 372.71 392.50 Td (W) Tj ET Q q 0 0 0 rg BT 383.07 392.50 Td (e believe that ) Tj ET Q q 0 0 0 rg BT 449.38 392.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 539.04 392.50 Td ( is ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 378.10 Td (useful to investors because it provides investors with information utilized by our Board and management to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 363.70 Td (assess our performance and may \(subject to the limitations described below\) enable investors to compare the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 349.30 Td (performance of our portfolio to our competitors. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 322.90 Td (EBITDA, ) Tj ET Q q 0 0 0 rg BT 94.33 322.90 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 183.99 322.90 Td ( and Resort EBITDA) Tj ET Q q 0 0 0 rg BT 284.98 322.90 Td ( are not substitutes for net income \(loss\) or any other ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 308.50 Td (measure determined in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 294.26 308.50 Td (. ) Tj ET Q q 0 0 0 rg BT 300.04 308.50 Td (There are limitations to the utility of non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 556.22 308.50 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 294.10 Td (financial measures, such as ) Tj ET Q q 0 0 0 rg BT 177.96 294.10 Td (Adjusted EBITDA. For example, other companies in our industry may define ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 279.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 134.66 279.70 Td ( dif) Tj ET Q q 0 0 0 rg BT 150.77 279.70 Td (ferently than we do. ) Tj ET Q q 0 0 0 rg BT 249.08 279.70 Td (As a result, it may be dif) Tj ET Q q 0 0 0 rg BT 367.17 279.70 Td (ficult to use ) Tj ET Q q 0 0 0 rg BT 426.16 279.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 515.82 279.70 Td ( or similarly ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 265.30 Td (named non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 158.55 265.30 Td ( financial measures that other companies publish to compare the performance of those ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 250.90 Td (companies to our performance. Because of these and other limitations, EBITDA, ) Tj ET Q q 0 0 0 rg BT 435.55 250.90 Td (Adjusted EBITDA, and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 236.50 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 122.66 236.50 Td ( should not be considered as a measure of the income or loss generated by our business or ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 222.10 Td (discretionary cash available for investment in our business, and investors should carefully consider our U.S. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 45.00 207.70 Td (GAAP) Tj ET Q q 0 0 0 rg BT 77.23 207.70 Td ( results presented in this release.) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 181.30 Td (Forward-Looking Statements) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 168.29999999999995 m 576 168.29999999999995 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 148.90 Td (This press release may contain forward-looking statements within the meaning of Section 27A) Tj ET Q q 0 0 0 rg BT 489.22 148.90 Td ( of the Securities ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 134.50 Td (Act of 1933 and Section 21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 308.60 134.50 Td (Act of 1934. Forward-looking statements relate to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 120.10 Td (expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 105.70 Td (expressions concerning matters that are not historical facts. ) Tj ET Q q 0 0 0 rg BT 322.46 105.70 Td (Y) Tj ET Q q 0 0 0 rg BT 329.92 105.70 Td (ou can identify these forward-looking statements ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 91.30 Td (by the use of terminology such as outlook, believes, expects, potential, continues, may) Tj ET Q q 0 0 0 rg BT 508.72 91.30 Td (, will, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 76.90 Td (should, could, seeks, approximately) Tj ET Q q 0 0 0 rg BT 244.47 76.90 Td (, predicts, intends, plans, estimates, anticipates or the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 62.50 Td (negative version of these words or other comparable words or phrases. Such forward-looking statements are ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 48.10 Td (subject to various risks and uncertainties, including those described under the section entitled Risk Factors in ) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 747.70 Td (the Company) Tj ET Q q 0 0 0 rg BT 103.66 747.70 Td (s Form S-1 registration statement, filed May 1, 2017, as such factors may be updated from time to ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 733.30 Td (time in our periodic filings with the SEC, which are accessible on the SEC) Tj ET Q q 0 0 0 rg BT 397.26 733.30 Td (s website at www) Tj ET Q q 0 0 0 rg BT 481.46 733.30 Td (.sec.gov) Tj ET Q q 0 0 0 rg BT 520.01 733.30 Td (. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 718.90 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 95.20 718.90 Td (, there are or will be important factors that could cause actual outcomes or results to dif) Tj ET Q q 0 0 0 rg BT 513.84 718.90 Td (fer ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 704.50 Td (materially from those indicated in these statements. ) Tj ET Q q 0 0 0 rg BT 285.71 704.50 Td (These factors should not be construed as exhaustive and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 690.10 Td (should be read in conjunction with the other cautionary statements that are included in this release and in the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 675.70 Td (Company) Tj ET Q q 0 0 0 rg BT 86.00 675.70 Td (s filings with the SEC. ) Tj ET Q q 0 0 0 rg BT 197.12 675.70 Td (While forward-looking statements reflect the Company) Tj ET Q q 0 0 0 rg BT 466.04 675.70 Td (s good faith beliefs, ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 661.30 Td (they are not guarantees of future performance. Playa disclaims any obligation to publicly update or revise any ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 646.90 Td (forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 632.50 Td (methods, future events or other changes after the date of this press release, except as required by applicable law) Tj ET Q q 0 0 0 rg BT 570.34 632.50 Td (. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 618.10 Td (Y) Tj ET Q q 0 0 0 rg BT 43.46 618.10 Td (ou should not place undue reliance on any forward-looking statements, which are based only on information ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 603.70 Td (currently available to us \(or to third parties making the forward-looking statements\).) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 234.10 747.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 374.86 747.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 96.80 732.30 Td (Reconciliation of Net Income to EBITDA, ) Tj ET Q q 0 0 0 rg BT 312.45 732.30 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 407.48 732.30 Td ( and Resort EBITDA) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 264.95 716.70 Td (\($ in thousands\)) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 685.50 Td (The following is a reconciliation of our U.S. GAAP) Tj ET Q q 0 0 0 rg BT 284.18 685.50 Td ( net income to EBITDA, ) Tj ET Q q 0 0 0 rg BT 404.82 685.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 494.48 685.50 Td ( and Resort ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 669.90 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 79.33 669.90 Td ( for the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 116.98 669.90 Td (three and six months ended 2017 and 2016) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 322.61 669.90 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 613.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 613.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 613.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 613.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 613.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 613.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 613.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 613.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 583.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 583.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 583.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 583.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 583.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 583.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 583.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 583.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 553.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 553.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 553.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 553.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 553.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 553.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 553.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 553.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 523.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 523.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 523.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 523.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 523.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 523.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 523.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 523.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 493.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 493.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 493.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 493.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 493.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 493.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 493.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 493.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 463.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 463.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 463.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 463.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 463.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 463.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 463.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 463.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 433.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 433.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 433.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 433.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 433.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 433.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 433.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 433.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 403.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 403.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 403.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 403.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 403.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 403.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 403.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 403.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 45.00 373.80 185.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 373.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 373.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 373.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 373.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 373.80 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 373.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 373.80 81.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 628.8 m 311 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 628.8 m 315 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 628.8 m 396 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 628.8 m 481 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 628.8 m 485 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 628.8 m 566 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 613.8 m 311 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 613.8 m 396 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 613.8 m 481 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 613.8 m 566 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 613.8 m 311 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 613.8 m 396 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 613.8 m 481 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 613.8 m 566 613.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 553.8 m 311 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 553.8 m 396 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 553.8 m 481 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 553.8 m 566 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 553.8 m 311 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 538.8 m 311 538.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 553.8 m 396 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 538.8 m 396 538.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 553.8 m 481 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 538.8 m 481 538.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 553.8 m 566 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 538.8 m 566 538.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 403.8 m 311 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 403.8 m 396 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 403.8 m 481 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 403.8 m 566 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 403.8 m 311 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 388.8 m 311 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 403.8 m 396 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 388.8 m 396 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 403.8 m 481 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 388.8 m 481 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 403.8 m 566 403.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 388.8 m 566 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 388.8 m 311 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 373.8 m 311 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 388.8 m 396 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 373.8 m 396 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 388.8 m 481 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 373.8 m 481 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 388.8 m 566 388.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 373.8 m 566 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 373.8 m 311 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 358.8 m 311 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 373.8 m 396 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 358.8 m 396 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 373.8 m 481 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 358.8 m 481 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 373.8 m 566 373.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 358.8 m 566 358.8 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.95 633.48 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.00 633.48 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.00 618.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 618.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.00 618.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 618.48 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.50 603.47 Td (Net \(loss\) income for the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.50 603.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 603.52 Td (\(10,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 603.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 603.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 603.47 Td (9,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 603.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 603.47 Td (17,109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 603.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 603.47 Td (46,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.50 588.47 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 588.47 Td (14,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 588.47 Td (13,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 588.47 Td (28,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 588.47 Td (27,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.50 573.47 Td (Income tax provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 573.47 Td (6,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.30 573.52 Td (\(6,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 573.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 573.47 Td (19,879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 573.47 Td (\(4,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.15 573.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.50 558.47 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 558.47 Td (13,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 558.47 Td (12,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 558.47 Td (26,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 558.47 Td (25,787) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.50 543.48 Td (EBITDA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.50 543.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.65 543.48 Td (23,709) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 543.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.65 543.48 Td (29,630) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 543.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 543.48 Td (91,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 543.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.65 543.48 Td (94,950) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 513.26 Td (Other \(income\) expense, net ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 151.71 517.34 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.50 513.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.80 513.52 Td (\(54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 513.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 513.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 513.47 Td (1,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 513.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 513.47 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 513.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 513.47 Td (2,189) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 498.26 Td (Share-based compensation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 498.47 Td (960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 498.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 498.47 Td (960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 498.47 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 483.26 Td (Loss on extinguishment of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 483.47 Td (12,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 483.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 483.47 Td (12,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 483.47 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 468.26 Td (T) Tj ET Q q 0 0 0 rg BT 52.68 468.26 Td (ransaction expense ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 123.15 472.34 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 468.47 Td (3,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 468.47 Td (1,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 468.47 Td (9,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 468.47 Td (2,671) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 453.26 Td (Severance expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 453.47 Td (442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 453.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 453.47 Td (442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 453.47 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 438.26 Td (Other tax expense ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 114.72 442.34 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 438.47 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 438.47 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 438.47 Td (423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 438.47 Td (662) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 423.26 Td (Jamaica delayed opening accrual ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 168.44 427.34 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.80 423.52 Td (\(111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 423.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 423.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 423.52 Td (\(111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 423.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 423.47 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.50 408.26 Td (Insurance proceeds ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 118.96 412.34 Td (\(e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 408.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 408.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 408.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.80 408.47 Td (\(130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.15 408.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.50 393.48 Td (Adjusted EBITDA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.50 393.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.65 393.48 Td (41,019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 393.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.65 393.48 Td (33,508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 393.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.65 393.48 Td (115,492) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 393.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 393.48 Td (100,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.50 378.47 Td (Corporate expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 378.47 Td (8,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 378.47 Td (7,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 378.47 Td (15,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 378.47 Td (14,248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.50 363.48 Td (Resort EBITDA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.50 363.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.65 363.48 Td (49,020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 363.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.65 363.48 Td (40,697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 363.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.65 363.48 Td (131,302) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 363.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 363.48 Td (114,590) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 329.2 m 136.5 329.2 l s BT /F1 10.00 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 308.10 Td (\(a\) ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 308.10 Td (Represents changes in foreign exchange and other miscellaneous expenses or income.) Tj ET Q BT /F1 12.00 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 288.50 Td (\(b\) ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 288.50 Td (Represents expenses incurred in connection with corporate initiatives, such as: the redesign and build-out of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 272.90 Td (our internal controls; other capital raising ef) Tj ET Q q 0 0 0 rg BT 265.04 272.90 Td (forts including the business combination with Pace; and ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 257.30 Td (strategic initiatives, such as possible expansion into new markets. ) Tj ET Q q 0 0 0 rg BT 371.38 257.30 Td (W) Tj ET Q q 0 0 0 rg BT 381.75 257.30 Td (e eliminate these expenses from ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 241.70 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 143.66 241.70 Td ( because they are not attributable to our core operating performance.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 471.84 241.70 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 222.10 Td (\(c\) ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 222.10 Td (Relates primarily to a Dominican Republic asset tax, which is an alternative tax to income tax in the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 206.50 Td (Dominican Republic. ) Tj ET Q q 0 0 0 rg BT 159.43 206.50 Td (W) Tj ET Q q 0 0 0 rg BT 169.79 206.50 Td (e eliminate this expense from ) Tj ET Q q 0 0 0 rg BT 313.42 206.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 403.08 206.50 Td ( because it is substantially similar ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 190.90 Td (to the income tax expense we eliminate from our calculation of EBITDA.) Tj ET Q BT /F1 12.00 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 172.50 Td (\(d\) ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 172.50 Td (Represents a reversal on an expense accrual recorded in 2014 related to our future stay obligations provided ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 158.10 Td (to guests af) Tj ET Q q 0 0 0 rg BT 108.44 158.10 Td (fected by the delayed opening of Hyatt Ziva and Hyatt Zilara Rose Hall. ) Tj ET Q q 0 0 0 rg BT 458.10 158.10 Td (The partial reversal of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 143.70 Td (this accrual occurred throughout 2017.) Tj ET Q BT /F1 12.00 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 36.00 128.10 Td (\(e\) ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 128.10 Td (Represents a portion of the insurance proceeds related to property insurance and not business interruption ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 54.00 112.50 Td (proceeds.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 99.64 112.50 Td ( ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 234.10 747.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 374.86 747.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 205.15 732.30 Td (Condensed Consolidated Balance Sheet) Tj ET Q BT /F2 12.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 217.40 716.70 Td (\($ in thousands, except shar) Tj ET Q q 0 0 0 rg BT 359.54 716.70 Td (e data\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 275.95 701.10 Td (\(unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 662.60 352.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 662.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 662.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 633.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 633.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 633.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 633.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 605.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 605.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 605.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 605.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 577.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 577.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 577.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 577.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 549.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 549.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 549.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 549.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 521.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 521.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 521.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 521.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 493.60 352.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 493.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 493.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 493.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 452.60 352.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 452.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 452.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 452.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 420.60 352.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 420.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 420.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 420.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 388.60 352.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 388.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 388.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 388.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 356.60 352.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 356.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 356.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 356.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 324.60 352.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 324.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 324.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 324.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 293.60 352.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 293.60 92.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 293.60 4.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 293.60 92.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 229.60 352.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 229.60 92.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 229.60 4.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 229.60 92.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 176.60 352.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 176.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 176.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 176.60 92.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 144.60 352.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 144.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 144.60 92.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 662.6 m 480.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 662.6 m 484.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 662.6 m 576.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 493.6 m 480.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 479.6 m 480.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 477.6 m 480.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 493.6 m 576.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 479.6 m 576.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 477.6 m 576.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 324.6 m 480.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 309.6 m 480.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 324.6 m 576.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 309.6 m 576.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 144.60000000000002 m 480.5 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 144.60000000000002 m 576.5 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 129.60000000000002 m 480.5 129.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 104.60000000000002 m 480.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 102.60000000000002 m 480.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 129.60000000000002 m 576.5 129.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 104.60000000000002 m 576.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 102.60000000000002 m 576.5 102.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.95 681.28 Td (As of June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.70 681.28 Td (As of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.00 667.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.00 667.28 Td (2016) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 652.50 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 637.47 Td (Cash and cash equivalents) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.00 637.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.55 637.47 Td (195,349) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.00 637.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 637.47 Td (33,512) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 623.47 Td (Restricted cash) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 623.47 Td (10,273) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 623.47 Td (9,651) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 609.47 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 609.47 Td (rade and other receivables, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 609.47 Td (43,175) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 609.47 Td (48,881) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 595.47 Td (Accounts receivable from related parties) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 595.47 Td (1,522) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 595.47 Td (2,532) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 581.47 Td (Inventories) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 581.47 Td (11,266) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 581.47 Td (10,451) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 567.47 Td (Prepayments and other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 567.47 Td (27,569) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 567.47 Td (28,633) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 553.47 Td (Property) Tj ET Q q 0 0 0 rg BT 76.17 553.47 Td (, plant and equipment, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 553.47 Td (1,387,426) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.30 553.47 Td (1,400,317) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 539.47 Td (Investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 539.47 Td (1,174) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 539.47 Td (1,389) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 525.47 Td (Goodwill) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 525.47 Td (51,731) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 525.47 Td (51,731) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 511.47 Td (Other intangible assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 511.47 Td (1,683) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 511.47 Td (1,975) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 497.47 Td (Deferred tax assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 497.47 Td (1,818) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 497.47 Td (1,818) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 483.50 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 483.50 Td (otal assets) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 391.00 483.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 432.30 483.50 Td (1,732,986) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 487.00 483.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.30 483.50 Td (1,590,890) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 468.50 Td (LIABILITIES, CUMULA) Tj ET Q q 0 0 0 rg BT 161.05 468.50 Td (TIVE REDEEMABLE PREFERRED ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 457.50 Td (SHARES ) Tj ET Q q 0 0 0 rg BT 85.16 457.50 Td (AND SHAREHOLDERS' EQUITY) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 441.52 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 441.52 Td (rade and other payables) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.55 441.52 Td (138,446) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.55 441.52 Td (145,042) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 425.52 Td (Accounts payable to related parties) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 425.52 Td (3,368) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 425.52 Td (8,184) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 409.52 Td (Income tax payable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 409.52 Td (10,656) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 409.52 Td (5,128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 393.52 Td (Debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.55 393.52 Td (878,512) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.55 393.52 Td (780,725) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 377.52 Td (Debt to related party) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.30 377.52 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 377.52 Td (47,592) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 361.52 Td (Deferred consideration) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 361.52 Td (1,120) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 361.52 Td (1,836) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 345.52 Td (Other liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.55 345.52 Td (9,813) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 345.52 Td (8,997) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 329.52 Td (Deferred tax liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 329.52 Td (76,832) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.05 329.52 Td (76,832) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 314.50 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 314.50 Td (otal liabilities) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 391.00 314.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 432.30 314.50 Td (1,118,747) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 487.00 314.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.30 314.50 Td (1,074,336) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 298.52 Td (Commitments and contingencies) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 282.52 Td (Cumulative redeemable preferred shares \(par value $0.01; 0 and 28,510,994) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 48.00 271.52 Td (shares authorized, issued and outstanding as of June 30, 2017 and December) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 48.00 260.52 Td (31, 2016, respectively; aggregate liquidation preference of $0 and $345,951) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 48.00 249.52 Td (as of June 30, 2017 and December 31, 2016, respectively\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.30 249.52 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.55 249.52 Td (345,951) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 234.50 Td (Shar) Tj ET Q q 0 0 0 rg BT 61.42 234.50 Td (eholders' equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 219.47 Td (Ordinary shares \(par value 0.10; 500,000,000 shares authorized, 110,109,076) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 48.00 208.47 Td (and 50,481,822 shares issued and outstanding as of June 30, 2017 and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 48.00 197.47 Td (December 31, 2016, respectively\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.05 197.52 Td (11,780) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.55 197.52 Td (5,386) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 181.52 Td (Paid-in capital) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.55 181.52 Td (770,412) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.55 181.52 Td (349,358) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 165.52 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 447.85 165.52 Td (\(3,761) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 476.30 165.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.85 165.57 Td (\(3,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 572.30 165.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 149.52 Td (Accumulated deficit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 436.85 149.52 Td (\(164,192) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 476.30 149.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.85 149.57 Td (\(180,422) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 572.30 149.52 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 134.50 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 134.50 Td (otal shar) Tj ET Q q 0 0 0 rg BT 86.38 134.50 Td (eholders' equity ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 440.55 134.50 Td (614,239) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 536.55 134.50 Td (170,603) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 119.50 Td (T) Tj ET Q q 0 0 0 rg BT 45.33 119.50 Td (otal liabilities, cumulative r) Tj ET Q q 0 0 0 rg BT 173.45 119.50 Td (edeemable pr) Tj ET Q q 0 0 0 rg BT 236.48 119.50 Td (eferr) Tj ET Q q 0 0 0 rg BT 259.48 119.50 Td (ed shar) Tj ET Q q 0 0 0 rg BT 293.81 119.50 Td (es and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 108.50 Td (shar) Tj ET Q q 0 0 0 rg BT 59.58 108.50 Td (eholders' equity ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 391.00 108.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 432.30 108.50 Td (1,732,986) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 487.00 108.50 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.30 108.50 Td (1,590,890) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 547.30 20.37 Td (Page 9) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 234.10 747.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 374.86 747.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 102.90 732.30 Td (Condensed Consolidated Statements of Operations and Compr) Tj ET Q q 0 0 0 rg BT 424.71 732.30 Td (ehensive Income) Tj ET Q BT /F2 12.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 264.95 716.70 Td (\($ in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.95 703.70 Td (\(unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 652.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 652.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 652.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 652.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 652.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 652.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 652.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 652.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 621.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 621.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 621.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 621.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 621.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 621.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 621.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 621.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 589.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 589.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 589.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 589.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 589.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 589.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 589.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 589.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 558.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 558.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 558.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 558.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 558.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 558.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 558.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 558.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 526.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 526.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 526.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 526.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 526.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 526.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 526.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 526.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 494.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 494.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 494.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 494.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 494.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 494.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 494.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 494.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 463.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 463.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 463.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 463.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 463.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 463.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 463.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 463.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 431.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 431.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 431.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 431.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 431.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 431.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 431.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 431.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 400.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 400.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 400.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 400.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 400.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 400.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 400.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 400.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 370.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 370.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 370.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 370.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 370.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 370.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 370.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 370.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 339.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 339.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 339.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 339.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 339.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 339.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 339.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 339.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 308.20 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 308.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 308.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 308.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 308.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 308.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 308.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 308.20 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 278.20 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 278.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 278.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 278.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 278.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 278.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 278.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 278.20 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 246.20 248.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 246.20 70.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 246.20 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 246.20 70.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 246.20 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 246.20 70.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 246.20 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 246.20 70.00 -26.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 652.2 m 353.5 652.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 652.2 m 427.5 652.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 652.2 m 501.5 652.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 652.2 m 575.5 652.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 605.2 m 353.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 605.2 m 427.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 605.2 m 353.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 589.2 m 353.5 589.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 605.2 m 427.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 589.2 m 427.5 589.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 605.2 m 501.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 589.2 m 501.5 589.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 605.2 m 575.5 605.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 589.2 m 575.5 589.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 510.20000000000005 m 353.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 510.20000000000005 m 427.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 510.20000000000005 m 353.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 494.20000000000005 m 353.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 510.20000000000005 m 427.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 494.20000000000005 m 427.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 510.20000000000005 m 501.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 494.20000000000005 m 501.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 510.20000000000005 m 575.5 510.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 494.20000000000005 m 575.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 494.20000000000005 m 353.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 479.20000000000005 m 353.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 494.20000000000005 m 427.5 494.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 479.20000000000005 m 427.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 479.20000000000005 m 501.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 479.20000000000005 m 575.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 479.20000000000005 m 353.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 479.20000000000005 m 427.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 479.20000000000005 m 501.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 479.20000000000005 m 575.5 479.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 431.20000000000005 m 353.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 431.20000000000005 m 427.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 431.20000000000005 m 501.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 431.20000000000005 m 575.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 431.20000000000005 m 353.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 431.20000000000005 m 427.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 431.20000000000005 m 501.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 431.20000000000005 m 575.5 431.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 416.20000000000005 m 353.5 416.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 400.20000000000005 m 353.5 400.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 416.20000000000005 m 427.5 416.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 400.20000000000005 m 427.5 400.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 416.20000000000005 m 501.5 416.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 400.20000000000005 m 501.5 400.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 416.20000000000005 m 575.5 416.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 400.20000000000005 m 575.5 400.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 385.20000000000005 m 353.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 385.20000000000005 m 427.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 385.20000000000005 m 501.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 385.20000000000005 m 575.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 385.20000000000005 m 353.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 385.20000000000005 m 427.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 385.20000000000005 m 501.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 385.20000000000005 m 575.5 385.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 354.20000000000005 m 353.5 354.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 354.20000000000005 m 427.5 354.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 354.20000000000005 m 501.5 354.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 354.20000000000005 m 575.5 354.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 339.20000000000005 m 353.5 339.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 325.20000000000005 m 353.5 325.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 323.20000000000005 m 353.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 339.20000000000005 m 427.5 339.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 325.20000000000005 m 427.5 325.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 323.20000000000005 m 427.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 339.20000000000005 m 501.5 339.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 325.20000000000005 m 501.5 325.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 323.20000000000005 m 501.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 339.20000000000005 m 575.5 339.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 325.20000000000005 m 575.5 325.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 323.20000000000005 m 575.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 293.20000000000005 m 353.5 293.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 293.20000000000005 m 427.5 293.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 293.20000000000005 m 501.5 293.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 293.20000000000005 m 575.5 293.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 279.20000000000005 m 353.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 277.20000000000005 m 353.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 279.20000000000005 m 427.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 277.20000000000005 m 427.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 279.20000000000005 m 501.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 277.20000000000005 m 501.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 279.20000000000005 m 575.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 277.20000000000005 m 575.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 277.20000000000005 m 353.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 279.20000000000005 m 353.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 277.20000000000005 m 427.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 279.20000000000005 m 427.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 277.20000000000005 m 501.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 279.20000000000005 m 501.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 277.20000000000005 m 575.5 277.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 279.20000000000005 m 575.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 261.20000000000005 m 353.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 263.20000000000005 m 353.5 263.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 247.20000000000005 m 353.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 245.20000000000005 m 353.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 261.20000000000005 m 427.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 263.20000000000005 m 427.5 263.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 247.20000000000005 m 427.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 245.20000000000005 m 427.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 261.20000000000005 m 501.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 263.20000000000005 m 501.5 263.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 247.20000000000005 m 501.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 245.20000000000005 m 501.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 261.20000000000005 m 575.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 263.20000000000005 m 575.5 263.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 247.20000000000005 m 575.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 245.20000000000005 m 575.5 245.20000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.45 671.88 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.50 671.88 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.00 656.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 656.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.00 656.88 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.00 656.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 641.88 Td (Revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 625.87 Td (Package) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 625.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 625.87 Td (118,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 625.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 625.87 Td (106,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 625.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 625.87 Td (271,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 625.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 625.87 Td (249,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 609.87 Td (Non-package) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 609.87 Td (22,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 609.87 Td (20,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 609.87 Td (43,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 609.87 Td (38,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.87 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 593.87 Td (140,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 593.87 Td (127,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 593.87 Td (314,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 593.87 Td (287,256) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 578.88 Td (Dir) Tj ET Q q 0 0 0 rg BT 52.26 578.88 Td (ect and selling, general and administrative expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 562.87 Td (Direct) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 562.87 Td (79,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 562.87 Td (73,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 562.87 Td (156,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 562.87 Td (146,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 546.87 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 546.87 Td (25,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 546.87 Td (22,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 546.87 Td (53,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 546.87 Td (44,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 530.87 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 530.87 Td (13,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 530.87 Td (12,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 530.87 Td (26,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 530.87 Td (25,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.00 514.87 Td (Insurance proceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 514.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 514.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 514.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.30 514.87 Td (\(130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.65 514.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 44.00 498.88 Td (Dir) Tj ET Q q 0 0 0 rg BT 58.26 498.88 Td (ect and selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 498.87 Td (118,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 498.87 Td (108,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 498.87 Td (236,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 498.87 Td (215,904) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 483.88 Td (Operating income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 483.88 Td (22,306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 483.88 Td (18,884) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 483.88 Td (78,193) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 483.88 Td (71,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 467.87 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.80 467.92 Td (\(14,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 467.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 467.92 Td (\(13,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 467.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 467.92 Td (\(28,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 467.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 467.87 Td (\(27,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.65 467.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 452.82 Td (Loss on extinguishment of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.80 452.87 Td (\(12,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 452.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 452.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 452.87 Td (\(12,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 452.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.65 452.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 436.82 Td (Other income \(expense\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 436.82 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 436.87 Td (\(1,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 436.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.30 436.87 Td (\(591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 436.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 436.82 Td (\(2,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.65 436.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 420.88 Td (Net \(loss\) income bef) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.59 420.88 Td (or) Tj ET Q q 0 0 0 rg BT 135.85 420.88 Td (e tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 420.93 Td (\(4,239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 420.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.15 420.88 Td (3,519) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 420.88 Td (36,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 420.88 Td (41,962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 404.87 Td (Income tax \(provision\) benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 404.92 Td (\(6,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 404.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 404.87 Td (6,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 404.92 Td (\(19,879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 404.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 404.87 Td (4,429) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 389.88 Td (Net \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.71 389.88 Td ( income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 389.93 Td (\(10,530) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 389.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.15 389.88 Td (9,854) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 389.88 Td (17,109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 389.88 Td (46,391) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 374.88 Td (Other) Tj ET Q q 0 0 0 rg BT 63.37 374.88 Td ( compr) Tj ET Q q 0 0 0 rg BT 93.45 374.88 Td (ehensive income \(loss\), net of taxes:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 358.87 Td (Benefit obligation gain \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 358.87 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 358.92 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 358.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.30 358.92 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 358.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 358.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 358.87 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 343.88 Td (Other) Tj ET Q q 0 0 0 rg BT 63.37 343.88 Td ( compr) Tj ET Q q 0 0 0 rg BT 93.45 343.88 Td (ehensive income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.65 343.88 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.30 343.93 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.65 343.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.30 343.93 Td (\(42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.65 343.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.65 343.88 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 328.88 Td (T) Tj ET Q q 0 0 0 rg BT 43.75 328.88 Td (otal compr) Tj ET Q q 0 0 0 rg BT 89.95 328.88 Td (ehensive \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.78 328.88 Td ( income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.00 328.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 328.93 Td (\(10,501) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 328.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.00 328.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.15 328.88 Td (9,805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.00 328.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 328.88 Td (17,067) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.00 328.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 328.88 Td (46,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 312.87 Td (Dividends of cumulative redeemable preferred shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 312.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 312.92 Td (\(11,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 312.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.80 312.92 Td (\(7,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 312.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 312.87 Td (\(21,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.65 312.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 297.87 Td (Non-cash dividend to warrant holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 297.92 Td (\(879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 297.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 297.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.30 297.92 Td (\(879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 297.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.65 297.87 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 282.88 Td (Net \(loss\) income available to ordinary shar) Tj ET Q q 0 0 0 rg BT 223.91 282.88 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.35 282.88 Td (holders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.00 282.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 282.93 Td (\(11,409) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 282.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.00 282.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 282.93 Td (\(1,157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.65 282.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.00 282.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 282.88 Td (8,308) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.00 282.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 282.88 Td (24,696) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 266.88 Td (\(Losses\) earnings per) Tj ET Q q 0 0 0 rg BT 128.37 266.88 Td ( shar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.58 266.88 Td (e - Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 266.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.80 266.92 Td (\(0.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 266.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 266.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.80 266.92 Td (\(0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 266.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 266.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 266.87 Td (0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 266.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 266.87 Td (0.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 250.88 Td (\(Losses\) earnings per) Tj ET Q q 0 0 0 rg BT 128.37 250.88 Td ( shar) Tj ET Q q 0 0 0 rg BT 149.58 250.88 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.52 250.88 Td (- Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 250.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.80 250.92 Td (\(0.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 250.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 250.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.80 250.92 Td (\(0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 250.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 250.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 250.87 Td (0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 250.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 250.87 Td (0.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 234.88 Td (W) Tj ET Q q 0 0 0 rg BT 47.45 234.88 Td (eighted average number) Tj ET Q q 0 0 0 rg BT 150.58 234.88 Td ( of shar) Tj ET Q q 0 0 0 rg BT 182.62 234.88 Td (es outstanding during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 224.88 Td (the period - Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 224.87 Td (104,064,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 224.87 Td (50,481,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 224.87 Td (83,275,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 224.87 Td (50,481,822) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 208.88 Td (W) Tj ET Q q 0 0 0 rg BT 47.45 208.88 Td (eighted average number) Tj ET Q q 0 0 0 rg BT 150.58 208.88 Td ( of shar) Tj ET Q q 0 0 0 rg BT 182.62 208.88 Td (es outstanding during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 198.88 Td (the period - Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 198.87 Td (104,064,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 198.87 Td (50,481,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 198.87 Td (83,289,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 198.87 Td (50,481,822) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 771.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 26.50 31.00 558.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 20.37 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 541.30 20.37 Td (Page 10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 234.10 747.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 374.86 747.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.45 732.30 Td (Consolidated Debt Summary - ) Tj ET Q q 0 0 0 rg BT 335.46 732.30 Td (As of ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 364.79 732.30 Td (June30, 2017) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 434.47 732.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 270.65 716.70 Td (\($ in millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 663.20 225.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 663.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 663.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 663.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 663.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 663.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 663.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 663.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 663.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 663.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 663.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 631.20 225.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 631.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 631.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 631.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 631.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 631.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 631.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 631.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 631.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 631.20 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 631.20 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 599.20 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 599.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 599.20 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 599.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 599.20 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 599.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 599.20 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 599.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 599.20 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 599.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 599.20 59.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 678.2 m 324.5 678.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 678.2 m 328.5 678.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 678.2 m 387.5 678.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 663.2 m 261.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 663.2 m 324.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 663.2 m 387.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 663.2 m 450.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 663.2 m 513.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 663.2 m 576.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 663.2 m 450.5 663.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 615.2 m 450.5 615.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 615.2 m 387.5 615.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 599.2 m 387.5 599.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 615.2 m 450.5 615.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 599.2 m 450.5 599.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 615.2 m 513.5 615.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 599.2 m 513.5 599.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 615.2 m 576.5 615.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 599.2 m 576.5 599.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 599.2 m 450.5 599.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 584.2 m 450.5 584.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 584.2 m 450.5 584.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 568.2 m 450.5 568.2 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 304.60 683.10 Td (Maturity) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 458.10 679.10 Td (Applicable) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 472.50 668.10 Td (Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 534.45 679.10 Td (L) Tj ET Q q 0 0 0 rg BT 540.78 679.10 Td (TM ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.25 668.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 551.88 668.10 Td (est) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 668.10 Td (Debt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 283.50 668.10 Td (Date) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 334.45 668.10 Td (# of Years) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 409.15 668.10 Td (Debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 652.12 Td (Revolving credit facility ) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 149.27 657.11 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.15 651.87 Td (Apr-22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 651.87 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 651.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 651.87 Td (0.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 651.87 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 651.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 651.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 651.87 Td (0.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 636.12 Td (T) Tj ET Q q 0 0 0 rg BT 44.95 636.12 Td (erm loan ) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 86.49 641.11 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.15 635.87 Td (Apr-24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 635.87 Td (6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 635.87 Td (530.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 635.87 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 635.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 635.87 Td (14.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 620.12 Td (Senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.20 619.87 Td (Aug-20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 619.87 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 619.87 Td (360.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 619.87 Td (8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 619.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 619.87 Td (37.8) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 39.00 604.10 Td (Total debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 603.87 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 603.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 603.87 Td (890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 603.87 Td (5.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 603.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 603.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 603.87 Td (52.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 39.00 589.07 Td (Less: cash and cash equivalents ) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 181.04 594.06 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 588.92 Td (\(195.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 588.87 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 45.00 573.10 Td (Net debt \(Face\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 572.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 572.87 Td (694.7) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 538.6 m 136.5 538.6 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 520.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 520.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 520.10 Td (June30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.27 520.10 Td (, the total borrowing capacity under our revolving credit facility was $100.0 million. ) Tj ET Q q 0 0 0 rg BT 506.00 520.10 Td (The interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 507.10 Td (on our revolving credit facility is L+300 bps with no LIBOR floor) Tj ET Q q 0 0 0 rg BT 350.21 507.10 Td (. 1-mo LIBOR is currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.09 507.10 Td (1.22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.92 507.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 494.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 494.10 Td (The interest rate on our term loan is L+300 bps with a LIBOR floor of 1%. 3-mo LIBOR is currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.83 494.10 Td (1.31%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.67 494.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 481.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 481.10 Td (Based on cash balances on hand as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.73 481.10 Td (June30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.56 481.10 Td (.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 591.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 25.00 31.00 741.00 -15.00 re f /GS0 gs BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 724.60 20.18 Td (Page 1) Tj ET Q q 1 1 1 rg BT 756.48 20.18 Td (1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 324.10 567.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 464.86 567.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 171.00 553.50 Td (Reportable Segment Operating Statistics - ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 389.75 553.50 Td (Thr) Tj ET Q q 0 0 0 rg BT 409.54 553.50 Td (ee Months Ended June 30, 2017) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 571.56 553.50 Td ( and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 596.91 553.50 Td (2016) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 620.91 553.50 Td ( ) Tj ET Q 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 56.50 509.00 93.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 149.50 509.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 176.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 180.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 209.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 238.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 267.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 271.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 300.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 329.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 358.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 362.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 391.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 420.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 449.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 453.50 509.00 34.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 487.50 509.00 34.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 521.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 550.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 554.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 583.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 612.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 641.50 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 645.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 674.50 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 703.50 509.00 31.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 56.50 483.00 93.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 149.50 483.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 176.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 180.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 209.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 238.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 267.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 271.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 300.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 329.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 358.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 362.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 391.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 420.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 449.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 453.50 483.00 34.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 487.50 483.00 34.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 521.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 550.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 554.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 583.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 612.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 641.50 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 645.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 674.50 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 703.50 483.00 31.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 530 m 180.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 530 m 209.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 530 m 238.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 530 m 267.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 530 m 300.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 530 m 329.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 530 m 358.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 530 m 391.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 530 m 420.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 530 m 449.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 530 m 487.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 530 m 521.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 530 m 550.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 530 m 583.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 530 m 612.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 530 m 641.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 530 m 674.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 530 m 703.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 530 m 734.5 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 56.5 509 m 149.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 509 m 176.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 509 m 209.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 509 m 238.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 509 m 267.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 509 m 300.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 509 m 329.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 509 m 358.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 509 m 391.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 509 m 420.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 509 m 449.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 509 m 487.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 509 m 521.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 509 m 550.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 509 m 583.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 509 m 612.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 509 m 641.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 509 m 674.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 509 m 703.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 509 m 734.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 509 m 176.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 509 m 391.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 509 m 420.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 509 m 449.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 509 m 487.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 509 m 521.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 509 m 550.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 509 m 583.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 509 m 612.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 509 m 641.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 509 m 674.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 509 m 703.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 509 m 734.5 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 470 m 176.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 470 m 449.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 470 m 487.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 470 m 521.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 470 m 550.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 470 m 583.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 470 m 612.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 470 m 641.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 470 m 674.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 470 m 703.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 470 m 734.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 470 m 176.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 457 m 176.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 470 m 209.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 457 m 209.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 470 m 238.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 457 m 238.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 470 m 267.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 457 m 267.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 470 m 300.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 457 m 300.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 470 m 329.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 457 m 329.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 470 m 358.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 457 m 358.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 470 m 391.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 457 m 391.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 470 m 420.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 457 m 420.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 470 m 449.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 457 m 449.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 470 m 487.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 457 m 487.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 470 m 521.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 457 m 521.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 470 m 550.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 457 m 550.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 470 m 583.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 457 m 583.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 470 m 612.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 583.5 457 m 612.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 470 m 641.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 457 m 641.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 470 m 674.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 645.5 457 m 674.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 470 m 703.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 674.5 457 m 703.5 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 470 m 734.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 703.5 457 m 734.5 457 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 204.75 534.06 Td (Occupancy) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 287.65 534.06 Td (Net Package ADR) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 373.25 534.06 Td (Net Package RevPAR) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 474.00 534.06 Td (Total Net Revenue) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 573.45 534.06 Td (Resort EBITDA) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 664.10 534.06 Td (EBITDA Margin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 152.15 513.06 Td (Rooms) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 187.50 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 216.50 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 247.80 520.06 Td (Pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 241.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 278.50 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 307.50 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 340.00 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 332.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 369.50 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 398.50 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 431.00 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 423.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 463.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 497.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 532.00 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 524.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 561.50 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 590.50 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 623.00 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 615.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 652.50 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 681.50 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 713.80 520.06 Td (Pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 707.00 513.06 Td (Change) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 65.00 500.05 Td (Yucatn Peninsula) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 154.60 500.05 Td (2,708) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 185.45 500.05 Td (88.7%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.45 500.05 Td (84.5%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 244.00 500.05 Td (4.2pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.10 500.05 Td ($272.45) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.10 500.05 Td ($251.08) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 336.20 500.05 Td (8.5%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.10 500.05 Td ($241.66) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.10 500.05 Td ($212.04) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.45 500.05 Td (14.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 460.35 500.05 Td (68,927) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 494.35 500.05 Td (61,140) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 526.45 500.05 Td (12.7%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 558.85 500.05 Td (29,176) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 587.85 500.05 Td (24,401) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 617.45 500.05 Td (19.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 650.45 500.05 Td (42.3%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 679.45 500.05 Td (39.9%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 709.15 500.05 Td (2.4 pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 65.00 487.05 Td (Pacific Coast) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.25 487.05 Td (926) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 185.45 487.05 Td (73.4%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.45 487.05 Td (67.7%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 244.00 487.05 Td (5.7pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.10 487.05 Td ($301.17) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.10 487.05 Td ($281.91) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 336.20 487.05 Td (6.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.10 487.05 Td ($221.15) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.10 487.05 Td ($190.97) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.45 487.05 Td (15.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 460.35 487.05 Td (23,073) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 494.35 487.05 Td (20,168) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 526.45 487.05 Td (14.4%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.60 487.05 Td (9,212) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 589.60 487.05 Td (5,564) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 617.45 487.05 Td (65.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 650.45 487.05 Td (39.9%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 679.45 487.05 Td (27.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 707.40 487.05 Td (12.3 pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 65.00 474.05 Td (Caribbean Basin) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 154.60 474.05 Td (2,496) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 185.45 474.05 Td (77.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.45 474.05 Td (76.2%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 244.00 474.05 Td (1.6pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.10 474.05 Td ($211.24) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.10 474.05 Td ($203.06) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 336.20 474.05 Td (4.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.10 474.05 Td ($164.26) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.10 474.05 Td ($154.70) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 427.20 474.05 Td (6.2%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 460.35 474.05 Td (45,413) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 494.35 474.05 Td (42,933) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.20 474.05 Td (5.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 558.85 474.05 Td (10,632) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 587.85 474.05 Td (10,732) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 616.85 474.05 Td (\(0.9\)%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 650.45 474.05 Td (23.4%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 679.45 474.05 Td (25.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 706.80 474.05 Td (\(1.6\) pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 59.00 461.06 Td (Total Portfolio) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 154.60 461.06 Td (6,130) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 184.85 461.06 Td (81.9%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 213.85 461.06 Td (78.6%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 242.75 461.06 Td (3.3 pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 274.10 461.06 Td ($252.68) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 303.10 461.06 Td ($236.16) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 335.60 461.06 Td (7.0%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 365.10 461.06 Td ($207.04) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 394.10 461.06 Td ($185.56) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.85 461.06 Td (11.6%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 456.85 461.06 Td ($137,413) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 490.85 461.06 Td ($124,241) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 525.85 461.06 Td (10.6%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 557.10 461.06 Td ($49,020) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 586.10 461.06 Td ($40,697) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 616.85 461.06 Td (20.5%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 649.85 461.06 Td (35.7%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 678.85 461.06 Td (32.8%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 708.75 461.06 Td (2.9 pts) Tj ET Q BT /F1 10.00 Tf ET BT /F3 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 422.90 Td (Highlights) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 406.9 m 756 406.9 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 390.60 Td (Y) Tj ET Q q 0 0 0 rg BT 41.71 390.60 Td (ucatn Peninsula) Tj ET Q BT /F2 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 367.93 cm /I24 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 370.30 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 370.30 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 370.30 Td (14.0%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 239.58 370.30 Td ( over the comparable period in the prior year) Tj ET Q q 0 0 0 rg BT 435.83 370.30 Td (, driven by an increase in Net Package ) Tj ET Q q 0 0 0 rg BT 606.58 370.30 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 644.46 370.30 Td (8.5%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 667.38 370.30 Td ( and an increase in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 356.00 Td (occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 129.69 356.00 Td (420) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.19 356.00 Td ( basis points. ) Tj ET Q BT /F1 11.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 339.33 cm /I25 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 341.70 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 341.70 Td ( increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 186.22 341.70 Td ($4.8 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.00 341.70 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.66 341.70 Td (19.6%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.07 341.70 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 366.76 341.70 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 325.03 cm /I26 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 327.40 Td (Excluding Gran Porto and Hyatt Zilara this increase was due in lar) Tj ET Q q 0 0 0 rg BT 391.74 327.40 Td (ge part to the strong performance by all of our resorts, which accounted for a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 732.62 327.40 Td ($5.6 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 313.10 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.78 313.10 Td ( increase in Resort EBITDA, with Hyatt Ziva Cancun being the most notable contributor) Tj ET Q q 0 0 0 rg BT 520.58 313.10 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 296.43 cm /I27 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 298.80 Td (This increase was of) Tj ET Q q 0 0 0 rg BT 188.91 298.80 Td (fset by the performance of Gran Porto and Hyatt Zilara Cancun, which accounted for a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 573.15 298.80 Td ($0.8 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 626.93 298.80 Td ( decrease in Resort EBITDA) Tj ET Q q 0 0 0 rg BT 752.78 298.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 284.50 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 215.06 284.50 Td (.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 255.90 Td (Pacific Coast) Tj ET Q BT /F2 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 233.23 cm /I28 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 235.60 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 235.60 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 235.60 Td (15.8%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 239.58 235.60 Td ( over the comparable period in the prior year) Tj ET Q q 0 0 0 rg BT 435.83 235.60 Td (, driven by an increase in Net Package ) Tj ET Q q 0 0 0 rg BT 606.58 235.60 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 644.46 235.60 Td (6.8%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 667.38 235.60 Td ( and an increase in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 221.30 Td (occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 129.69 221.30 Td (570) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.19 221.30 Td ( basis points. ) Tj ET Q BT /F1 11.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 204.63 cm /I29 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 207.00 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 207.00 Td ( increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 186.22 207.00 Td ($3.6 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.00 207.00 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.66 207.00 Td (65.6%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.07 207.00 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 366.76 207.00 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 190.33 cm /I30 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 192.70 Td (This increase was due to increased Resort EBITDA) Tj ET Q q 0 0 0 rg BT 325.35 192.70 Td ( by both hotels in this segment.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 164.10 Td (Caribbean Basin) Tj ET Q BT /F3 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 141.43 cm /I31 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 143.80 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 143.80 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 143.80 Td (6.2%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.08 143.80 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 317.93 143.80 Td (, driven by an increase in Net Package ) Tj ET Q q 0 0 0 rg BT 488.67 143.80 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 526.56 143.80 Td (4.0%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 549.48 143.80 Td ( and an increase in Occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 698.21 143.80 Td (160) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 714.71 143.80 Td ( basis ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 129.50 Td (points.) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 50.00 112.83 cm /I32 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 115.20 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 115.20 Td ( decreased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.04 115.20 Td ($0.1 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 241.82 115.20 Td (, or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.24 115.20 Td (0.9%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.15 115.20 Td (, over the prior year) Tj ET Q q 0 0 0 rg BT 368.59 115.20 Td (.) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 98.53 cm /I33 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 100.90 Td (This decrease was primarily attributable to the performance of Hyatt Ziva and Zilara Rose Hall. ) Tj ET Q q 0 0 0 rg BT 522.75 100.90 Td (The remaining resorts had Resort EBITDA) Tj ET Q q 0 0 0 rg BT 711.85 100.90 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 726.51 100.90 Td ($8.4 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 86.60 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.78 86.60 Td (, an increase of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 200.11 86.60 Td ($0.2 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.89 86.60 Td ( compared to the prior year) Tj ET Q q 0 0 0 rg BT 372.70 86.60 Td (.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 11.00 Tf ET q 0 0 0 rg BT 36.00 591.90 Td ( ) Tj ET Q 0 0.28627450980392155 0.4980392156862745 rg /GS0 gs 25.00 31.00 741.00 -15.00 re f /GS0 gs BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 724.15 20.18 Td (Page 12) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 324.10 567.90 Td (Playa Hotels & Resorts N.V) Tj ET Q q 0 0 0 rg BT 464.86 567.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 178.15 553.50 Td (Reportable Segment Operating Statistics - ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 397.12 553.50 Td (Six Months Ended June 30, 2017) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 564.49 553.50 Td ( and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 589.84 553.50 Td (2016) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 613.84 553.50 Td ( ) Tj ET Q 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 50.00 509.00 92.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 142.00 509.00 28.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 170.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 174.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 203.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 232.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 265.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 269.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 298.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 327.00 509.00 30.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 357.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 361.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 390.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 419.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 448.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 452.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 485.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 518.00 509.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 547.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 551.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 584.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 617.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 650.00 509.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 654.00 509.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 681.00 509.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 708.00 509.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 50.00 483.00 92.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 142.00 483.00 28.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 170.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 174.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 203.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 232.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 265.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 269.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 298.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 327.00 483.00 30.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 357.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 361.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 390.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 419.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 448.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 452.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 485.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 518.00 483.00 29.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 547.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 551.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 584.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 617.00 483.00 33.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 650.00 483.00 4.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 654.00 483.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 681.00 483.00 27.00 -13.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 708.00 483.00 33.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170 530 m 174 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 530 m 203 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 530 m 232 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 530 m 265 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 530 m 298 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 530 m 327 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 530 m 357 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 530 m 390 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 530 m 419 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 530 m 448 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 530 m 485 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 530 m 518 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 530 m 547 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 530 m 584 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 530 m 617 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 530 m 650 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 530 m 681 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 530 m 708 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 530 m 741 530 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 509 m 142 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142 509 m 170 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 509 m 203 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 509 m 232 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 509 m 265 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 509 m 298 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 509 m 327 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 509 m 357 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 509 m 390 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 509 m 419 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 509 m 448 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 509 m 485 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 509 m 518 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 509 m 547 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 509 m 584 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 509 m 617 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 509 m 650 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 509 m 681 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 509 m 708 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 509 m 741 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 509 m 142 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142 509 m 170 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 509 m 203 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 509 m 232 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 509 m 265 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 509 m 298 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 509 m 327 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 509 m 357 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 509 m 390 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 509 m 419 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 509 m 448 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 509 m 485 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 509 m 518 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 509 m 547 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 509 m 584 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 509 m 617 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 509 m 650 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 509 m 681 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 509 m 708 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 509 m 741 509 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142 470 m 170 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 470 m 203 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 470 m 232 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 470 m 265 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 470 m 357 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 470 m 390 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 470 m 419 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 470 m 448 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 470 m 485 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 470 m 518 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 470 m 547 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 470 m 584 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 470 m 617 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 470 m 650 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 470 m 681 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 470 m 708 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 470 m 741 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142 470 m 170 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142 457 m 170 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 470 m 203 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 457 m 203 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 470 m 232 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 457 m 232 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 470 m 265 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 457 m 265 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 470 m 298 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 457 m 298 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 470 m 327 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 457 m 327 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 470 m 357 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 457 m 357 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 470 m 390 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 457 m 390 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 470 m 419 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 457 m 419 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 470 m 448 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 457 m 448 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 470 m 485 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 457 m 485 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 470 m 518 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 457 m 518 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 470 m 547 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 457 m 547 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 470 m 584 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 551 457 m 584 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 470 m 617 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 584 457 m 617 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 470 m 650 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 617 457 m 650 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 470 m 681 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 654 457 m 681 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 470 m 708 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681 457 m 708 457 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 470 m 741 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 708 457 m 741 457 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 200.25 534.06 Td (Occupancy) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 285.65 534.06 Td (Net Package ADR) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.75 534.06 Td (Net Package RevPAR) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 534.06 Td (Total Net Revenue) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 575.95 534.06 Td (Resort EBITDA) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 671.60 534.06 Td (EBITDA Margin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 145.15 513.06 Td (Rooms) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 181.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 210.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 243.30 520.06 Td (Pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 236.50 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 276.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 305.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 338.00 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 330.00 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 368.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 397.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 429.50 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 421.50 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 461.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 494.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 528.50 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 520.50 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 560.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 593.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 629.50 520.06 Td (%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 621.50 513.06 Td (Change) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 660.00 513.06 Td (2017) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 687.00 513.06 Td (2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 719.30 520.06 Td (Pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 712.50 513.06 Td (Change) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 58.50 500.05 Td (Yucatn Peninsula) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 147.60 500.05 Td (2,708) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 178.95 500.05 Td (89.7%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.95 500.05 Td (84.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 500.05 Td (5.7pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 271.60 500.05 Td ($299.26) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.60 500.05 Td ($279.94) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 334.20 500.05 Td (6.9%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.35 500.05 Td (268.34) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.35 500.05 Td (235.09) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 423.95 500.05 Td (14.1%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 456.60 500.05 Td (149,675) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 489.60 500.05 Td (132,757) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 522.95 500.05 Td (12.7%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 557.35 500.05 Td (72,246) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 590.35 500.05 Td (60,799) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 623.95 500.05 Td (18.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 657.95 500.05 Td (48.3%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 684.95 500.05 Td (45.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 714.65 500.05 Td (2.5 pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 58.50 487.05 Td (Pacific Coast) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.25 487.05 Td (926) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 178.95 487.05 Td (75.5%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.95 487.05 Td (68.5%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 487.05 Td (7.0pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 271.60 487.05 Td ($335.97) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.60 487.05 Td ($314.44) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 334.20 487.05 Td (6.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.35 487.05 Td (253.71) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.35 487.05 Td (215.26) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 423.95 487.05 Td (17.9%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 458.35 487.05 Td (51,505) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 491.35 487.05 Td (43,057) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 522.95 487.05 Td (19.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 557.35 487.05 Td (23,484) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 590.35 487.05 Td (16,788) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 623.95 487.05 Td (39.9%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 657.95 487.05 Td (45.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 684.95 487.05 Td (39.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 714.65 487.05 Td (6.6 pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 58.50 474.05 Td (Caribbean Basin) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 147.60 474.05 Td (2,496) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 178.95 474.05 Td (82.6%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.95 474.05 Td (81.0%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 474.05 Td (1.6pts) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 271.60 474.05 Td ($243.19) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.60 474.05 Td ($246.20) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 331.85 474.05 Td (\(1.2\)%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.35 474.05 Td (200.95) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 394.35 474.05 Td (199.43) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.70 474.05 Td (0.8%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 456.60 474.05 Td (106,743) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 489.60 474.05 Td (105,280) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 524.70 474.05 Td (1.4%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 557.35 474.05 Td (35,572) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 590.35 474.05 Td (37,003) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 623.35 474.05 Td (\(3.9\)%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 657.95 474.05 Td (33.3%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 684.95 474.05 Td (35.1%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 712.30 474.05 Td (\(1.8\) pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 461.06 Td (Total Portfolio) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 147.60 461.06 Td (6,130) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 178.35 461.06 Td (84.7%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 207.35 461.06 Td (80.4%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 238.25 461.06 Td (4.3 pts) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 271.60 461.06 Td ($281.94) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 300.60 461.06 Td ($270.56) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 333.60 461.06 Td (4.2%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.60 461.06 Td ($238.71) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 392.60 461.06 Td ($217.61) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 425.10 461.06 Td (9.7%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 454.85 461.06 Td ($307,923) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 487.85 461.06 Td ($281,094) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 524.10 461.06 Td (9.5%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 553.85 461.06 Td ($131,302) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 586.85 461.06 Td ($114,590) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 623.35 461.06 Td (14.6%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 657.35 461.06 Td (42.6%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 684.35 461.06 Td (40.8%) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 714.25 461.06 Td (1.8 pts) Tj ET Q BT /F1 10.00 Tf ET BT /F3 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.27058823529411763 0.48627450980392156 rg BT 36.00 422.90 Td (Highlights) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 36 406.9 m 756 406.9 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 390.60 Td (Y) Tj ET Q q 0 0 0 rg BT 41.71 390.60 Td (ucatn Peninsula) Tj ET Q BT /F2 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 367.93 cm /I34 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 370.30 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 370.30 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 370.30 Td (14.1%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 239.58 370.30 Td ( over the comparable period in the prior year) Tj ET Q q 0 0 0 rg BT 435.83 370.30 Td (, driven by an increase in Net Package ) Tj ET Q q 0 0 0 rg BT 606.58 370.30 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 644.46 370.30 Td (6.9%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 667.38 370.30 Td ( and an increase in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 356.00 Td (occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 129.69 356.00 Td (570) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.19 356.00 Td ( basis points. ) Tj ET Q BT /F1 11.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 339.33 cm /I35 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 341.70 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 341.70 Td ( increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 186.22 341.70 Td ($1) Tj ET Q q 0 0 0 rg BT 196.81 341.70 Td (1.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.09 341.70 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.75 341.70 Td (18.8%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 288.17 341.70 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 371.85 341.70 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 325.03 cm /I36 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 327.40 Td (Excluding Gran Porto and Hyatt Zilara this increase was due in lar) Tj ET Q q 0 0 0 rg BT 391.74 327.40 Td (ge part to the strong performance by all of our resorts, which accounted for a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 313.10 Td ($13.2 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 158.28 313.10 Td ( increase in Resort EBITDA, with Hyatt Ziva Cancun being the most notable contributor) Tj ET Q q 0 0 0 rg BT 548.08 313.10 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 296.43 cm /I37 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 298.80 Td (This increase was of) Tj ET Q q 0 0 0 rg BT 188.91 298.80 Td (fset by the performance of Gran Porto and Hyatt Zilara Cancun, which accounted for a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 573.15 298.80 Td ($1.7 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 626.93 298.80 Td ( decrease in Resort EBITDA) Tj ET Q q 0 0 0 rg BT 752.78 298.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 284.50 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 215.06 284.50 Td (.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 255.90 Td (Pacific Coast) Tj ET Q BT /F2 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 233.23 cm /I38 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 235.60 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 235.60 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 235.60 Td (17.9%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 239.58 235.60 Td ( over the comparable period in the prior year) Tj ET Q q 0 0 0 rg BT 435.83 235.60 Td (, driven by an increase in Net Package ) Tj ET Q q 0 0 0 rg BT 606.58 235.60 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 644.46 235.60 Td (6.8%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 667.38 235.60 Td ( and an increase in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 221.30 Td (occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 129.69 221.30 Td (700) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.19 221.30 Td ( basis points. ) Tj ET Q BT /F1 11.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 204.63 cm /I39 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 207.00 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 207.00 Td ( increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 186.22 207.00 Td ($6.7 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.00 207.00 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.66 207.00 Td (39.9%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.07 207.00 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 366.76 207.00 Td (. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 190.33 cm /I40 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 192.70 Td (This increase was due to increased Resort EBITDA) Tj ET Q q 0 0 0 rg BT 325.35 192.70 Td ( by both hotels in this segment.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 164.10 Td (Caribbean Basin) Tj ET Q BT /F3 10.00 Tf ET /GS0 gs q 18.00 0 0 11.00 50.00 141.43 cm /I41 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 143.80 Td (Net Package RevP) Tj ET Q q 0 0 0 rg BT 148.86 143.80 Td (AR increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.17 143.80 Td (0.8%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.08 143.80 Td ( over the prior year) Tj ET Q q 0 0 0 rg BT 317.93 143.80 Td (, driven by an increase in Occupancy of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.39 143.80 Td (160) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.89 143.80 Td ( basis points but of) Tj ET Q q 0 0 0 rg BT 594.80 143.80 Td (fset by a decrease in Net Package ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 129.50 Td (ADR of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 105.89 129.50 Td (1.2%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 128.80 129.50 Td ( .) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 112.83 cm /I42 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 115.20 Td (The decrease in Net Package ) Tj ET Q q 0 0 0 rg BT 228.19 115.20 Td (ADR is due to the strategic decision to build and promote occupancy at Hyatt Ziva and Zilara Rose Hall, as well as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 100.90 Td (Dreams Palm Beach at the expense of package rates, which decreased. ) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 50.00 84.23 cm /I43 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 86.60 Td (Resort EBITDA) Tj ET Q q 0 0 0 rg BT 139.19 86.60 Td ( decreased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.04 86.60 Td ($1.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 241.82 86.60 Td (, or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.24 86.60 Td (3.9%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.15 86.60 Td (, over the prior year) Tj ET Q q 0 0 0 rg BT 368.59 86.60 Td (.) Tj ET Q BT /F3 11.00 Tf ET /GS0 gs q 18.00 0 0 11.01 81.00 69.93 cm /I44 Do Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 72.30 Td (This decrease was primarily attributable to the performance of Hyatt Ziva and Zilara Rose Hall. ) Tj ET Q q 0 0 0 rg BT 522.75 72.30 Td (The remaining resorts had Resort EBITDA) Tj ET Q q 0 0 0 rg BT 711.85 72.30 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 726.51 72.30 Td ($25.8 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 99.00 58.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.78 58.00 Td (, an increase of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 200.11 58.00 Td ($0.5 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.89 58.00 Td ( compared to the prior year) Tj ET Q q 0 0 0 rg BT 372.70 58.00 Td (.) Tj ET Q endstream endobj 27 0 obj <> /View <>>>>> endobj 28 0 obj <> /View <>>>>> endobj 29 0 obj <> endobj 30 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;