FAIRFAX, Va., March 3, 2011 /PRNewswire/ -- Playa Hotels & Resorts (the "Company") announced today that Omar Palacios has been appointed Executive Vice President and Chief Financial Officer. Mr. Palacios joins Playa following eleven years at Kerzner International Limited, most recently serving as Senior Vice President and Chief Financial Officer for One&Only Resorts, Kerzner's luxury hotel brand.
"I am very pleased that Omar is joining our team," said Bruce Wardinski, Chairman and Chief Executive Officer of the Company. Omar's extensive financial background in the international resort industry will serve us well as we are poised for the expansion of our business. Omar's transactional experience will assist us in accelerating our growth strategy and his background in the development of hotel brands with an emphasis on beachfront properties complements our strategic plan," added Wardinski.
Mr. Palacios' appointment follows the recent recapitalization and restructuring of the Company, which enables it to operate on a standalone basis. The Company was established in 2006 to invest in the acquisition and development of all-inclusive beachfront resorts in Mexico, Latin America and the Caribbean. Presently the Company owns 17 properties in Mexico and the Dominican Republic. These properties operate under the Barcelo brand which is owned by Barcelo Hotels & Resorts, and under the Dreams and Secrets brands, which are owned by AMResorts.
Mr. Palacios holds a Bachelor of Business Administration from the University of Miami and earned a Certified Public Accountant certificate from the state of Georgia. He began his career with Arthur Andersen and later worked for AutoNation, serving as a key member of that company's acquisitions team.
In his position with the Company, Mr. Palacios will work closely with Bruce Wardinski in the planning and development of the Company's financial infrastructure and to position the Company for its Initial Public Offering in the foreseeable future.
Playa Hotels & Resorts is headquartered in Fairfax VA. For more information visit: www.Playahr.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: (i) national and local economic and business conditions or governmental regulations that will affect demand.
SOURCE Playa Hotels & Resorts