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Playa Hotels & Resorts B.V. (Playa) Appoints Larry K. Harvey Chief Financial Officer

FAIRFAX, Va., April 9, 2015 (GLOBE NEWSWIRE) -- Bruce Wardinski, Chairman and Chief Executive Officer, Playa Hotels & Resorts B.V. (Playa) today announced the appointment of Larry K. Harvey as Chief Financial Officer. Mr. Harvey is a recognized global real estate financial leader with an extensive background in hospitality ownership, operations and capital market transactions. Most recently, Mr. Harvey served as CFO for Host Hotels & Resorts, the market's largest hospitality REIT, with $19 billion in global assets and a member of the S&P 500 and Fortune 500.

"Larry's expertise in raising capital within the hospitality industry while developing and implementing financial transactions is unparalleled," said Mr. Wardinski. "Larry is well-respected on Wall Street and within the financial community for his ability to enhance liquidity and decrease the cost of capital while implementing internal procedures that identify revenue improvement and cost-reducing opportunities," added Mr. Wardinski.

Playa is a leading owner and operator of all-inclusive resorts. Presently Playa's portfolio includes 14 resort hotels in Mexico and the Caribbean's most desirable beach destinations. Playa also has an exclusive agreement with a subsidiary of Hyatt Hotels Corporation (NYSE:H) to own and operate Hyatt's new all-inclusive brands, Hyatt Zilara (exclusively for adults) and Hyatt Ziva (for guests of all ages) in five Caribbean countries including Mexico.

"Playa is executing on market opportunities and implementing its strategic plan for the international growth of its portfolio of all-inclusive resorts," said Mr. Wardinski. "Larry's expertise in financial markets will clearly help accelerate that growth as we explore exciting new opportunities. Personally, I have worked with Larry at Host Marriott and at Crestline Capital. I am delighted to once again have the opportunity to team with Larry and have him lead our financial operations."

Mr. Harvey began his career with Price Waterhouse. He holds a Bachelor of Science in Accounting from Virginia Tech where he graduated Magna Cum Laude. He is a Certified Public Accountant and serves on numerous board of directors including: American Capital Agency (Nasdaq:AGNC), Audit Committee Chairman; American Capital Mortgage, Audit Committee Chairman; American Capital Funding, Audit Committee Chairman; and the non-profit organization, Helping Children Worldwide. Mr. Harvey can be reached at larry.harvey@playaresorts.com.

About Playa Hotels & Resorts

Playa Hotels & Resorts B.V. is a leading owner, operator and developer of all-inclusive beach resorts. Playa Resorts Management is the operational management component of the organization. Playa's portfolio consists of a collection of 14 premier resort hotels comprised of 6,175 rooms that are located in prime beach locations in Mexico, the Dominican Republic and Jamaica. Playa owns and manages Hyatt Ziva Los Cabos, Hyatt Zilara Cancun, Hyatt Ziva Rose Hall and Hyatt Zilara Rose Hall in Jamaica, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Cancun coming in 2015. The company also owns and operates three resorts under Playa's brands, The ROYAL and Gran, as well as five resorts in Mexico and the Dominican Republic that are managed by a third party. Under an agreement with an affiliate of Hyatt Hotels Corporation (NYSE:H), Playa will pursue the acquisition or development of new all-inclusive resort opportunities under two new Hyatt all-inclusive brands – Hyatt Zilara and Hyatt Ziva. Playa will also have certain rights to operate Hyatt-branded all-inclusive resorts in five Latin American and Caribbean countries. For more information visit www.playaresorts.com.

Note: Certain matters discussed herein are forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Certain, but not necessarily all, of such statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will,""should," "estimates" or "anticipates" or the negative thereof or comparable terminology. All forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual transactions, results, performance or achievements of the Company to be materially different from any future transactions, results, performance or achievements expressed or implied by such forward-looking statements. These may include: national and local economic and business conditions or governmental regulations that will affect demand.

CONTACT: MEDIA CONTACT: Gayle MacIntyre Playa Hotels & Resorts gayle.macintyre@playaresorts.com 404.643.8222

Source:Playa Hotels & Resorts