The triple shooting was confirmed by Lucio Hernández Gutiérrez, the region's police chief, in a statement on Twitter. Hernández Gutiérrez said one of the victims died at a hospital.
The incident began as an argument among guests at the Hotel Xcaret Mexico, the police chief said. What started the verbal altercation was not immediately clear.
Authorities released photos of the suspected gunman. The images show a man in a light-blue track suit. In one photo he is apparently pointing a handgun, and in another he is wearing a black face mask and seems to be holding a mobile device. In a third image, he is sitting on a lounge chair.
American tourist shot by gang's gunfire near Cancun: 'I honestly thought that I was gonna die'
American tourist shot by gang's gunfire near Cancun: 'I honestly thought that I was gonna die'
A manhunt was underway for the suspect, Hernández Gutiérrez said.
The Quintana Roo state prosecutor's office said via Twitter that the suspect in the shooting was also apparently a guest and Canadian police informed them he was a known felon with a long record related to robbery, drug and weapons offenses.
Playa del Carmen is located about 70 miles south of Cancun.
The Associated Press contributed to this report.