Playa Hotels & Resorts N.V. (NASDAQ:PLYA) Q1 2023 Earnings Call Transcript

Ryan Hymel: Yes. I think it’s – I don’t think it would change too much. I mean the OTAs, as we have said the last couple of calls have been the slowest to recover. We have obviously grown dramatically the direct business over the years, if you heard us talk about, and then the return of MICE, which is as we have said from the beginning, we are happy to see some direct business or especially business from any other channel into MICE business because of the rate profile and all the non-package add-ons that they are willing to spend on. And it just fills holes in your business and allows the yield management team to yield manage even higher. So, I don’t see it changing too much, at least with the core owned legacy portfolio that we see today.

Chris Woronka: Okay. Very helpful. Thanks guys. Good quarter.

Ryan Hymel: Thanks Chris.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Bruce Wardinski for any closing remarks.

Bruce Wardinski: Great. Thank you everyone for participating in our call today. As we have said, the first quarter was our – from a financial perspective, was our best quarter ever. Our Playa team members continue to drive guest satisfaction at incredibly high levels and we expect the rest of the year to be good. So, thank you very much for joining us today and we look forward to talking to you next quarter. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may all now disconnect.