Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The following tables present our revenues disaggregated by geographic segment (refer to discussion of our reportable segments in Note 17) ($ in thousands):

	Year Ended December 31, 2023
	Yucatán Peninsula		Pacific Coast		Dominican Republic		Jamaica		Other		Total
Package revenue	$	280,544	$	127,830	$	218,309	$	197,439	$	—	$	824,122
Non-package revenue	35,490		17,675		35,843		32,414		—		121,422
The Playa Collection	—		—		—		—		3,642		3,642
Management fees	152		—		—		—		6,878		7,030
Cost reimbursements	—		—		—		4,947		7,528		12,475
Other revenues	—		—		—		—		8,813		8,813
Total revenue	$	316,186	$	145,505	$	254,152	$	234,800	$	26,861	$	977,504

	Year Ended December 31, 2022
	Yucatán Peninsula		Pacific Coast		Dominican Republic		Jamaica		Other		Total
Package revenue (1)	$	251,788	$	116,172	$	197,440	$	157,975	$	—	$	723,375
Non-package revenue (1)(2)(3)	36,244		15,493		33,689		31,176		—		116,602
The Playa Collection (2)	—		—		—		—		1,752		1,752
Management fees	137		—		—		—		3,691		3,828
Cost reimbursements	—		—		—		4,487		5,219		9,706
Other revenues (3)	—		—		—		—		1,000		1,000
Total revenue	$	288,169	$	131,665	$	231,129	$	193,638	$	11,662	$	856,263

    

	Year Ended December 31, 2021
	Yucatán Peninsula		Pacific Coast		Dominican Republic		Jamaica		Other		Total
Package revenue (1)	$	166,000	$	69,118	$	126,805	$	83,840	$	—	$	445,763
Non-package revenue (1)(3)	28,687		10,066		23,086		17,966		—		79,805
Management fees	84		—		—		—		2,207		2,291
Cost reimbursements	—		—		—		2,853		2,953		5,806
Other revenues (3)	—		—		—		—		974		974
Total revenue	$	194,771	$	79,184	$	149,891	$	104,659	$	6,134	$	534,639

________

(1)Includes $10.1 million and $7.8 million of on-property room upgrade revenue for the years ended December 31, 2022 and 2021, respectively, that was reclassified from non-package revenue to package revenue to conform with current period presentation.

(2)Includes $1.8 million that was reclassified from non-package revenue to The Playa Collection for the year ended December 31, 2022 to conform with current period presentation.

(3)Includes $1.0 million that was reclassified from non-package revenue to other revenues for the years ended December 31, 2022 and 2021 to conform with current period presentation.

Performance obligations

We recognize revenues when the performance obligations are satisfied by transferring control of the product or service to our customers as described in Note 2.

We do not disclose the value of unsatisfied performance obligations for contracts with consideration determined by our performance completed to date or with an expected length of one year or less. Due to the nature of our business, our revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at our resorts are refunded to resort guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to service are generally recognized as an adjustment to the transaction price at the time the resort stay occurs or services are rendered.

Contract assets and liabilities

We do not have any material contract assets as of December 31, 2023 and 2022 other than trade and other receivables on our Consolidated Balance Sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected.

We record contract liabilities when cash payments are received or due in advance of guests staying at our resorts, which are presented as advance deposits (see Note 16) within trade and other payables on our Consolidated Balance Sheets. Our advanced deposits are generally recognized as revenue within one year.

Contract costs

We consider sales commissions earned to be incremental costs of obtaining a contract with our customers. As a practical expedient, we expense these costs as incurred when the period to be benefited is less than one year. We also consider key money payments to be incremental costs of obtaining management contracts. These costs are capitalized within prepayments and other assets and amortized on a straight-line basis over the term of the management agreement (see Note 16).

Termination of Management Agreements

We terminated our management agreements for the Hyatt Ziva Riviera Cancún and Hyatt Zilara Riviera Maya effective December 15, 2023 and received $6.5 million of termination fees from the owner of the resorts, which are recorded within other revenues in the Consolidated Statements of Operations for the year ended December 31, 2023.