FAIRFAX, Va., & FORT WORTH, Texas–(BUSINESS WIRE)–Playa Hotels & Resorts B.V. (“Playa”), a arch owner, operator, and developer of exceptional all-embracing resorts, and Pace Holdings Corp. (“Pace”) (NASDAQ: PACE), a special-purpose accretion aggregation sponsored by an associate of TPG, appear today that Tom Klein will accompany Playa’s Lath of Admiral (the “Playa Board”) aloft achievement of the afresh appear transaction amid Playa and Pace. Klein is an industry adept with added than 20 years of acquaintance in the biking and leisure sector. Most recently, Klein served as President, CEO, and affiliate of the Lath of Admiral of Sabre Corporation (“Sabre”), a arch technology provider to the all-around biking and tourism industry. His accession to the Playa Lath is accepted to represent the aboriginal footfall against accelerating Playa’s advance action and furthering its arch position in an emerging, high-growth sector.
“Throughout my time on Sabre’s board, I accept watched Tom advance the aggregation in entering the accessible markets and acceptable artefact development, including cogent advances on the accommodation side,” said Karl Peterson, TPG Accomplice and President and CEO of Pace. “This accomplishment set, commutual with his abysmal adeptness of these markets and able industry relationships, actualize the absolute value-add accomplice for Playa.”
“Karl and I are captivated to accept accession of Tom’s adeptness accompany the Playa Board,” said Bruce Wardinski, Chairman and CEO of Playa. “His aing builds on the contempo drive we’ve acquired through our business aggregate with Pace. We attending advanced to his abutment and insights as Playa enters its aing era of advance as a accessible entity.”
On December 13, 2016, Playa and Pace entered into a absolute acceding with account to a business aggregate involving the two companies. At the achievement of the transaction, the accumulated aggregation will absorb the Playa name and will be a about listed company. The transaction is accepted to serve as a agitator for approaching advance by accouterment Playa with added basic and admission to the accessible markets to strengthen its antithesis sheet, accompany acquisitions, and enhance distribution. Klein will accompany the Playa Lath aloft achievement of the transaction, which is accepted to aing in the aboriginal division of 2017.
“I am aflame by the befalling to not alone accompany the lath of an industry arch aggregation such as Playa, but to be a allotment of a aggregation that has an accomplished clue almanac of anecdotic and creating value,” said Klein. “Bruce and his aggregation accept congenital a agitating belvedere that is able-bodied positioned for cogent growth. I attending advanced to alive with the blow of the Playa Lath as Playa looks to added its arch position and assassinate on acute advance opportunities.”
Before confined as CEO and President, Klein captivated a array of controlling roles at Sabre, including accumulation President of both Sabre Biking Network and Sabre Airline Solutions as able-bodied as aggregation President in 2010. Early on in his career at the company, Klein led Sabre’s collective adventure in Mexico. Klein becoming his BS in business administering from the Villanova School of Business and currently serves on the University’s Lath of Trustees. He serves on the Lath of Admiral of Cedar Fair LP (NYSE: FUN) and the controlling lath of World Biking and Tourism Council. Klein was appointed by US Secretary of Commerce Penny Pritzker to both the President’s Advisory Council for Doing Business in Africa and the lath of Brand USA area he currently serves as Chairman.
Added Advice and Area to Find It
Pace has acquired Porto Holdco B.V. (“Holdco”) to book with the Balance and Exchange Commission (“SEC”) a allotment account on Form S-4 (the “Registration Statement”), which includes a basic announcement with account to Holdco’s balance to be issued in affiliation with the proposed business aggregate amid Pace and Playa (the “Business Combination”) and a basic proxy account of Pace in affiliation with the Business Combination. Pace affairs to mail to its shareholders the absolute proxy statement/prospectus with account to Holdco’s balance to be issued in affiliation with the Business Combination. SECURITY HOLDERS ARE URGED AND ADVISED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS CAREFULLY WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT PACE, PLAYA, HOLDCO, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and aegis holders may access chargeless copies of the Allotment Statement, and the absolute proxy statement/prospectus (when they become available) and added accordant abstracts and any added abstracts filed by Pace, Holdco or Playa with the SEC chargeless of allegation at the SEC’s web armpit at www.sec.gov. In addition, shareholders will be able to access chargeless copies of the Allotment Account by administering a appeal to: Pace Holdings Corp., 301 Commerce Street, Suite 3300, Fort Worth, Texas 76102, email: [email protected], Attn: Mr. Clive D. Bode.
Participants in the Address
Pace, Playa, Holdco and their corresponding admiral and controlling admiral may be accounted to be participants in the address of proxies from Pace’s shareholders in affiliation with the Business Combination. Advice about Pace’s admiral and controlling admiral is set alternating in Pace’s Annual Report on Form 10-K for the budgetary year concluded December 31, 2015, which was filed with the SEC on January 26, 2016. These abstracts are accessible chargeless of allegation at the SEC’s web armpit at www.sec.gov, or by administering a appeal to: Pace Holdings Corp., 301 Commerce Street, Suite 3300, Fort Worth, Texas 76102, email: [email protected], Attn: Mr. Clive D. Bode. Added advice apropos the interests of participants in the address of proxies in affiliation with the Business Aggregate is included in the Allotment Account and will be independent in the absolute proxy statement/prospectus and added accordant abstracts to be filed with the SEC back they become available.
Advanced Attractive Statements
This columnist absolution includes “forward attractive statements” aural the acceptation of the “safe harbor” accoutrement of the United States Clandestine Balance Litigation Reform Act of 1995. Advanced statements may be articular by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and added agnate expressions that adumbrate or announce approaching contest or trends or that are not statements of absolute matters. Such advanced attractive statements accommodate projected banking information. Such advanced attractive statements with account to revenues, earnings, performance, strategies, affairs and added aspects of the businesses of Pace, Playa or the accumulated aggregation afterwards achievement of any Business Aggregate are based on accepted expectations that are accountable to risks and uncertainties. A cardinal of factors could account absolute after-effects or outcomes to alter materially from those adumbrated by such advanced attractive statements. These factors include, but are not bound to: (1) the disability to complete the affairs advised by the Business Combination; (2) the disability to admit the advancing allowances of the Business Combination, which may be afflicted by, amid added things, competition, and the adeptness of the accumulated business to abound and administer advance profitably; (3) the adeptness to accommodated NASDAQ’s advertisement standards afterward the cleanup of the affairs advised by the Business Combination; (4) costs accompanying to the Business Combination; (5) changes in applicative laws or regulations; (6) the achievability that Playa or Pace may be abnormally afflicted by added economic, business, and/or aggressive factors; and (7) other risks and uncertainties adumbrated from time to time in the absolute proxy statement/prospectus of Pace, including those beneath “Risk Factors” therein, and added abstracts filed or to be filed with the SEC by Pace. You are cautioned not to abode disproportionate assurance aloft any advanced statements, which allege alone as of the date made. Pace and Playa undertake no charge to amend or alter the advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.
This advice is for advisory purposes alone and is neither an action to purchase, nor a address of an action to sell, subscribe for or buy any balance or the address of any vote in any administration pursuant to the proposed affairs or otherwise, nor shall there be any sale, arising or alteration or balance in any administration in contravention of applicative law. No action of balance shall be fabricated except by agency of a announcement affair the requirements of Section 10 of the Balance Act of 1933, as amended, and applicative regulations in the Netherlands and Cayman Islands.
About Playa Hotels & Resorts
Playa Hotels & Resorts B.V. is a arch owner, abettor and developer of all-embracing resorts in prime beachfront locations in accepted vacation destinations in Mexico and the Caribbean. Playa owns a portfolio consisting of 13 resorts (6,142 rooms) amid in Mexico, the Dominican Republic, and Jamaica. Playa owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Ziva and Hyatt Zilara Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos. The aggregation additionally owns and operates three resorts beneath Playa’s brands, THE Royal and Gran, as able-bodied as bristles resorts in Mexico and the Dominican Republic that are managed by a third party.
About Pace Holdings
Pace was formed with the purpose of accepting a aggregation that would be bigger ill-fitted to accomplish able allotment in the accessible markets while benefiting from the broader operational knowledge, assets and clandestine disinterestedness ancestry of TPG. This transaction builds on TPG’s efforts to abound its clandestine disinterestedness alms by application altered acknowledgment profiles and artefact types.
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