What factors could disrupt PLYA's earnings streak?

While Playa Hotels & Resorts (PLYA) has shown strong earnings performance, several factors could disrupt its earnings streak:

1. **Hurricane Impact**: Natural disasters like Hurricane Barrel and Hurricane Fiona have affected Playa's performance, leading to declines in underlying owned resort EBITDA. These events can disrupt operations and impact revenue.
2. **Currency Fluctuations**: Currency fluctuations, particularly the appreciation of the Mexican Peso, have negatively impacted Playa's financial results. This is evident in the decline of its owned resort EBITDA margin and the negative impact on Adjusted EBITDA. Fluctuations in currency rates can affect revenue and profitability.
3. **Construction Disruptions**: Construction disruptions on the Pacific Coast and in Jamaica have posed hurdles for Playa's operations. These disruptions can lead to delays in project timelines and increase costs.
4. **RevPAR Growth Challenges**: While Playa has seen an increase in Net Package RevPAR, growth has been underwhelming, with an average annual growth rate of 10.2% over the past two years. This suggests that attracting customers and maintaining revenue growth may be challenging.
5. **Strategic Initiatives**: While strategic initiatives like the agreement with Hyatt are positive, the complexities of expansions and renovations can complicate operations and be expensive.

In summary, while Playa has shown strong earnings performance, factors such as natural disasters, currency fluctuations, construction disruptions, RevPAR growth challenges, and strategic initiatives can disrupt its earnings streak.