Hyatt Hotels Corp. will acquire Playa Hotels & Resorts, a Caribbean lodging real estate company, for $2.6 billion. The deal marks an expansion of Hyatt’s all-inclusive growth journey and builds on its existing portfolio.
Hyatt has agreed to pay $13.50 per outstanding share in a move that benefits both the hotel chain and its stakeholders. The acquisition will broaden Hyatt’s management platform for all-inclusive resorts, allowing it to provide more value to customers.
The deal is part of an asset-light strategy pursued by Hyatt, which plans to identify third-party buyers for Playa’s owned properties. Hyatt expects to pay down 80% of the new financing with proceeds from asset sales and aims to realize $2 billion in proceeds by 2027.
This acquisition follows similar moves by other major lodging companies, including Hilton’s purchase of Graduate Hotels and Sydell Group, and Marriott International’s licensing agreements with MGM Resorts International and Sonder Holdings.
Source: https://www.bisnow.com/national/news/hotel/hyatt-to-expand-all-inclusive-portfolio-with-26b-acquisition-of-playa-hotels-resorts-127964