Segment information (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Segment Reporting Information

The following table presents segment Owned Net Revenue, defined as total revenue less compulsory tips paid to employees, cost reimbursements, management fees and other miscellaneous revenue not derived from segment operations, and a reconciliation to total revenue for the years ended December 31, 2020, 2019 and 2018 ($ in thousands):


	Year Ended December 31,
	2020		2019		2018
Owned net revenue (1)
Yucatán Peninsula	$	109,629	$	235,788	$	259,393
Pacific Coast	33,065		85,219		86,317
Dominican Republic	49,898		90,783		125,137
Jamaica	69,173		193,558		126,702
Segment owned net revenue (2)	261,765		605,348		597,549
Other	367		23		305
Management fees	807		1,820		755
Cost reimbursements	2,189		6,412		978
Compulsory tips	8,061		22,874		17,426
Total revenue	$	273,189	$	636,477	$	617,013

________

(1) We recognized $3.0 million, $0 million and $2.0 million in business interruption insurance recoveries for the years ended December 31, 2020, 2019 and 2018, respectively. The business interruption insurance recoveries recognized in 2020 primarily relate to the suspension of operations experienced as a result of the COVID-19 pandemic, and those received in 2018 relate to Hurricane Irma and Hurricane Maria that occurred in the third quarter of 2017.

(2) Segment owned net revenue represents total revenue less compulsory tips paid to employees, cost reimbursements, management fees and other miscellaneous revenue not derived from segment operations.

The following table presents segment Owned Resort EBITDA, Adjusted EBITDA and a reconciliation to net income (loss) for the years ended December 31, 2020, 2019 and 2018 ($ in thousands):


	Year Ended December 31,
	2020		2019		2018
Owned Resort EBITDA
Yucatán Peninsula	$	17,783	$	82,534	$	107,884
Pacific Coast	4,281		31,618		31,038
Dominican Republic	(6,694)		16,596		41,228
Jamaica	(1,284)		55,175		32,912
Segment Owned Resort EBITDA	14,086		185,923		213,062
Other corporate	(36,066)		(37,049)		(34,786)
Management fees	807		1,820		755
Total adjusted EBITDA	(21,173)		150,694		179,031
Interest expense	(81,942)		(44,087)		(62,243)
Depreciation and amortization	(92,570)		(101,897)		(73,278)
Impairment loss	(55,619)		(6,168)		—
Loss on sale of assets	(2,021)		—		—
Other (expense) income	(1,164)		(3,200)		2,822
Repairs from hurricanes and tropical storms	(1,542)		—		—
Pre-opening expense	—		(1,452)		(321)
Share-based compensation	(10,158)		(8,845)		(6,116)
Other tax expense	(613)		(577)		(1,633)
Transaction expense	(2,497)		(6,175)		(9,615)
Severance expense	(3,844)		(515)		(333)
Jamaica delayed opening accrual reversal	—		—		342
Property damage insurance gain	—		—		2,212
Non-service cost components of net periodic pension (benefit) cost (1)	(200)		645		308
Net (loss) income before tax	(273,343)		(21,577)		31,176
Income tax benefit (provision)	10,973		17,220		(12,199)
Net (loss) income	$	(262,370)	$	(4,357)	$	18,977

________

(1) Represents the non-service cost components of net periodic pension (benefit) cost recorded within other (expense) income in the Consolidated Statements of Operations. We include these costs in calculating Adjusted EBITDA as they are considered part of our ongoing resort operations.

The following table presents segment property and equipment, gross and a reconciliation to total property and equipment, net as of December 31, 2020 and 2019 ($ in thousands):


	As of December 31,
	2020		2019
Segment property and equipment, gross
Yucatán Peninsula (1)	$	799,849	$	865,900
Pacific Coast	288,328		288,358
Dominican Republic	678,900		667,120
Jamaica	406,047		499,569
Total segment property and equipment, gross	2,173,124		2,320,947
Corporate property and equipment, gross	4,505		7,320
Accumulated depreciation	(450,246)		(398,353)
Total property and equipment, net	$	1,727,383	$	1,929,914

________

(1) Property and equipment of the Dreams Puerto Aventuras resort is included within assets held for sale in the Consolidated Balance Sheet.

The following table presents segment capital expenditures and a reconciliation to total capital expenditures for the years ended December 31, 2020, 2019 and 2018 ($ in thousands):


	Year Ended December 31,
	2020		2019		2018
Segment capital expenditures
Yucatán Peninsula	$	4,487	$	28,495	$	16,684
Pacific Coast	1,345		3,144		3,181
Dominican Republic	9,966		178,599		79,543
Jamaica	3,112		5,178		6,262
Total segment capital expenditures (1)	18,910		215,416		105,670
Corporate	160		14,512		5,665
Total capital expenditures (1)	$	19,070	$	229,928	$	111,335

________

(1) Represents gross additions to property and equipment.