Is Playa Hotels & Resorts NV (PLYA) stock Ready To Bounce?

The sentiments regarding the hospitality industry has probably not been revived just yet considering the fact that the Playa Hotels & Resorts NV (NASDAQ:PLYA) stock declined by as much as 8% yesterday after the company made an announcement about the date on which it will publish its second quarter results.

The company announced that it is planning to publish is second fiscal quarter financial results after the closure of markets on August 4, 2021. However, that is not all. Playa Hotels also noted that the management is also going to host a conference call regarding the financial results at 11 a.m. Eastern Time on August 5, 2021.

While it is a significant announcement, it did not result in any positivity from investors and a selloff ensued. Back on June 28, the company had made another major announcement and that one was related to the cash sale of the Capri Hotel.

Playa Hotels announced that is old off the hotel for a sum of $55 million. On the other hand, Playa Hotels also announced that it inked a franchisee agreement with Hyatt Hotels by way of which the resort in question is going to be rechristened as the Hyatt Zilara Riviera Maya.