Playa Hotels & Resorts (NASDAQ:PLYA) shares are trading lower on Tuesday after the company announced a secondary offering of 12.5 million shares of its common stock.
Playa Hotels & Resorts NV acts as an owner, operator, and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations. The company's segments are Yucatan Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It generates a majority of its revenue from the Yucatan Peninsula segment. Its brand profile consists of HYATT ZIVA, HYATT ZILARA, Hilton, JEWEL RESORTS, and others.
Playa Hotels & Resorts stock traded down 15.68% at $3.98 per share at the time of publication on Tuesday. The stock has a 52-week high of $8.51 and a 52-week low of $1.30.