Investor Presentaiton

Capital Allocation Strategy - Track Record of Successful Development: Case Study: Hyatt Ziva and Hyatt Zilara Rose Hall 620 Rooms 4Q 2017 Completed $106mm ~21% HYATT ZILARA™ HYATT ZIVA ALL INCLUSIVE RESORTS Rose Hall Project Cost Cash-on-Cash Return Acquisition & New Construction - $278k/Key (1) Zilara Building 124 New Rooms Lobby-reception, bar & lounge and restaurant Rose Hall Village 69 new rooms ■ 5 restaurants & 3 bars ■ Outdoor terrace for dining and shows Sky wedding lounge Renovations Soft-goods renovation of all rooms and public areas ■ New laundry and kitchen equipment ■ 12 new pools with 2 wet and dry bars ■ New Zilara Beach Restaurant & Spa HOTELS & RESORTS" 1) Includes acquisition costs PLAYA 27 27

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