CHICAGO — Hyatt Hotels Corporation is making good on its intentions to acquire Playa Hotels & Resorts.
Hyatt announced this morning that it has entered into an agreement to acquire all outstanding shares of Playa Hotels & Resorts N.V. for US$13.50 per share (approximately $2.6 billion), including approximately $900 million of debt, net of cash.
Inklings of the deal surfaced in December 2024, with an exclusivity agreement under which Playa agreed to negotiate exclusively with Hyatt regarding potential strategic alternatives, which possibly included the acquisition of Playa by Hyatt.
“Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands,” said Mark Hoplamazian, President and CEO, Hyatt. “We have respected and benefitted from Playa’s operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels. This pending transaction allows us to broaden our portfolio while providing more value to all of our stakeholders through an expanded management platform for all-inclusive resorts.”
The company notes that the pending acquisition provides an opportunity to secure long-term management agreements for Hyatt’s luxury all-inclusive Hyatt Ziva and Hyatt Zilara branded properties. It also will expand Hyatt’s distribution channels, including ALG Vacations and Unlimited Vacation Club, to Playa’s portfolio.
The move will leave Hyatt well-positioned to drive value creation through complementary business segments and further optimize its existing all-inclusive infrastructure in Mexico and the Caribbean, adds the company.
Hyatt’s all-inclusive portfolio has grown exponentially over the years, with the acquisition of Apple Leisure Group in 2021, and the 2024 completion of a 50/50 strategic joint venture with Grupo Piñero, which added the Bahia Principe Hotels & Resorts portfolio to Hyatt’s Inclusive Collection, which currently spans approximately 55,000 rooms across Latin America, the Caribbean and Europe.
