Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 43,125	$ 54,341
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization	19,440	18,672
Amortization of debt discount and issuance costs	1,590	1,648
Share-based compensation	4,395	3,759
Loss on derivative financial instruments	27	9
Deferred income taxes	(6,766)	529
Loss (gain) on sale of assets	626	(36)
Amortization of key money	(178)	(192)
Provision for doubtful accounts	336	491
Other	(1)	153
Changes in assets and liabilities:
Insurance recoverable	0	(1,237)
Inventories	1,875	1,273
Prepayments and other assets	9,619	5,393
Trade and other payables	(6,283)	(21,692)
Payables to related parties	1,076	967
Income tax payable	7,862	1,016
Other liabilities	159	196
Net cash provided by operating activities	78,087	56,777
INVESTING ACTIVITIES
Capital expenditures	(23,384)	(9,953)
Purchase of intangibles	(129)	(79)
Payment of key money	(1,700)	(485)
Proceeds from the sale of assets, net	27,593	71
Property damage insurance proceeds	3,065	0
Net cash provided by (used in) investing activities	5,445	(10,446)
FINANCING ACTIVITIES
Repayments of debt	(2,750)	(2,750)
Repurchase of ordinary shares	0	(30,534)
Principal payments on finance lease obligations	(82)	(116)
Repurchase of ordinary shares for tax withholdings	(4,578)	(109)
Net cash used in financing activities	(7,410)	(33,509)
INCREASE IN CASH AND CASH EQUIVALENTS	76,122	12,822
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	189,278	272,520
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	265,400	285,342
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest, net of interest capitalized	17,802	21,038
Cash paid for income taxes, net	869	11,381
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Capital expenditures incurred but not yet paid	4,144	1,894
Repurchase of ordinary shares not yet settled	0	1,970
Par value of vested restricted share awards	186	282
Nonrelated Party
Changes in assets and liabilities:
Trade and other receivables, net	428	(7,951)
Related Party
Changes in assets and liabilities:
Trade and other receivables, net	$ 757	$ (562)

Playa Hotels & Resorts N.V. 10-Q