Plot

When tech billionaire Slater King meets cocktail waitress Frida at his fundraising gala, he invites her to join him and his friends on a dream vacation on his private island. As strange things start to happen, Frida questions her reality.

When tech billionaire Slater King (Channing Tatum) meets cocktail waitress Frida (Naomi Ackie) at his fundraising gala, sparks fly. He invites her to join him and his friends on a dream vacation on his private island. It's paradise. Wild nights blend into sun-soaked days and everyone's having a great time. Nobody wants this trip to end, but as strange things start to happen, Frida begins to question her reality. Something is wrong with this place. She'll have to uncover the truth if she wants to make it out of this party alive.—MGM

Animal-themed nail artist and cocktail waitress Frida works an exclusive event with her friend Jess. She encounters billionaire tech mogul Slater King, who recently stepped down as CEO for unspecified past behavior and invites them both to his private island.

There, Slater's assistant Stacy confiscates their phones. In attendance are Slater's friends and business partners: photographer Vic, private chef Cody, DJ Tom, and college graduate Lucas. The three other female guests include: reality show star Sarah, aspiring app developer Camilla, and lawyer/stoner Heather. The women are treated with lavish rooms, gift bags of perfume, potent hallucinogenic drugs, and a holiday experience, enhanced by high-end meals and cocktails prepared by Cody.

Frida clashes with Sarah over Slater's attention while Jess notices memory lapses. All of the local workers sport the same snake tattoo, and Frida has strange encounters with a maid who seems to recognize her and calls her "Red Rabbit".

Slater's therapist Rich visits and receives a red gift bag. During a night of partying, Jess is bitten by a snake and later tells Frida she wants to leave. At breakfast, Frida notices that Lucas smells like the women's perfume. While the men are away fishing, Frida discovers a room with dozens of identical red gift bags.

Frida is tricked into drinking snake venom by the maid and begins remembering strange events. She realizes that Jess is missing, although none of the other women remember her at all. Alarmed, Frida investigates and learns of a flower indigenous to the island capable of wiping memories that has been incorporated into their food and perfume. She convinces Sarah of what is happening and gets her to drink the venom, an antidote to the flower's effects.

The men return as Frida and Sarah grow more paranoid. The pair trick the other women, including Stacy, into drinking shots of the venom to restore their memories. Frida sneaks into Slater's office to retrieve their phones, only to find they are out of both service and power.

Frida's memories fully return, revealing that the men have been sexually assaulting them every night and wiping their memories using the flower. When Jess's memories could not be erased due to the venom, they killed her. Frida also finds Polaroids featuring different women and men with red gift bags, revealing that Slater is inviting guests to rape people regularly and gifting them perfume to use when they are away from the island.

Frida and Sarah attempt to buy time for themselves as Camilla and Heather's memories return, leading Camilla to stab Tom to death while Heather badly injures Vic before being fatally shot by Stan, Slater's security guard and former Marine. Slater kills Camilla and the men hide in Slater's villa where he mocks Lucas for choosing to be inactively complicit in the abuse by doing nothing.

Stacy attacks Frida, preferring to be ignorant of the men's behavior, which forces Frida to stab her to death. Stan chases Frida but is bludgeoned to death by Sarah, who takes his gun. Cody escapes to the woods but is presumably killed by Sarah. In the villa, Lucas tries to escape but is mistakenly shot in a trap set for Slater by Frida and Sarah. Afterward, Slater traps Frida in the villa. It is revealed that Frida had been on the island the year before and experienced the same events; she was assaulted by Slater, bit off Vic's pink finger and scarred her head on a rock before her memories were wiped. The maid had recognized Frida from her red rabbit fingernails.

When Slater leaves the villa to search for Sarah, Frida laces his vape with the memory-erasing perfume. The effects make him forget the previous events and panic upon seeing the bodies. Slater slips and knocks himself unconscious as the villa catches fire. Frida and Sarah escape, leaving Vic to die but saving Slater.

Some time later, Rich encounters a noticeably disoriented Slater. It's revealed Frida is now married to Slater and is CEO of his company, all while drugging his vape with the flower to keep him compliant.