Related party transactions

9 Months Ended

Sep. 30, 2020

Relationship with Hyatt

Hyatt Hotels Corporation (“Hyatt”) is considered a related party due to its ownership of our ordinary shares by its affiliated entities and representation on our Board of Directors. We pay Hyatt fees associated with the franchise agreements of our resorts operating under the all-ages Hyatt Ziva and adults-only Hyatt Zilara brands and receive reimbursements for guests that pay for their stay using the World of Hyatt® guest loyalty program.

Relationship with Sagicor

Sagicor Group Jamaica Limited (“Sagicor”) is considered a related party due to its ownership of our ordinary shares by its affiliated entities and representation on our Board of Directors. We pay Sagicor for insurance coverage for some of our Jamaica properties. Sagicor is also a part owner of the Jewel Grande Montego Bay Resort & Spa and compensates us as manager of the property.

Lease with our Chief Executive Officer

One of our offices is owned by our Chief Executive Officer and we sublease the space at that location from a third party.

Transactions with related parties

Transactions between us and related parties during the three and nine months ended September 30, 2020 and 2019 were as follows ($ in thousands):


		Three Months Ended September 30,				Nine Months Ended September 30,
Related Party	Transaction	2020		2019		2020		2019
Hyatt	Franchise fees (1)	$	1,102	$	3,516	$	7,666	$	13,054
Sagicor	Insurance premiums (1)	$	187	$	186	$	720	$	1,317
Sagicor	Cost reimbursements	$	488	$	1,393	$	1,652	$	4,200
Chief Executive Officer	Lease expense (2)	$	186	$	187	$	564	$	539

________

(1)Included in direct expense in the Condensed Consolidated Statements of Operations with the exception of certain immaterial fees associated with the Hyatt franchise agreements, which are included in selling, general, and administrative expense.

(2)Included in selling, general, and administrative expense in the Condensed Consolidated Statements of Operations.