Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Charles Floyd, a director of Playa Hotels & Resorts N.V. (the "Company"), who
was designated by the binding nomination of HI Holdings Playa B.V. (an affiliate
of Hyatt Hotels Corporation) pursuant to a shareholder agreement, submitted his
resignation from the Company's board of directors on August 17, 2021, effective
August 18, 2021, in order to avoid any perceived conflicts of interest resulting
from Hyatt Hotels' recently proposed acquisition of Apple Leisure Group. There
were no disagreements between Mr. Floyd and the Company. HI Holdings Playa B.V.
and the Company have agreed that HI Holdings Playa B.V. will not designate a
replacement director pursuant to the shareholder agreement, which is scheduled
to expire in 2022.
Since 2013, the Company and Hyatt Hotels have been strategic partners in the
development and management of all-inclusive resorts throughout the Caribbean and
Mexico, and the Company is a significant franchisee of Hyatt Hotels with a
growing portfolio of Hyatt Zilara and Hyatt Ziva resorts located in Mexico and
the Caribbean. Hyatt, through HI Holdings, is also a significant shareholder of
the Company, holding over 7.0% of the Company ordinary shares.
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