Hyatt Closes on Sale of Playa to Tortuga Resorts

Hyatt has officially closed the real estate sale of Playa Hotels & Resort to Tortuga Resorts and signed a 50-year management agreement for 13 of the 14 properties, all located in the Caribbean and Mexico. 

Hyatt acquired Playa in early 2025 and quickly announced plans to sell the portfolio’s real estate. The company sold one of the 15 resorts to a separate entity for $22 million in September and has just sold the remaining 14 to Tortuga for a total of about $2 billion. Hyatt will continue to manage 13 of them in accordance with the Tortuga deal. 

The sale reflects Hyatt’s asset-light business model and is “the culmination of a transformative transaction for Hyatt’s Inclusive Collection,” said Javier Águila, president of Hyatt Inclusive Collection. 

“With this transaction, we’ve secured long-term management agreements for a portfolio of exceptional resorts that reflect our commitment to excellence,” Águila said. “We are deeply grateful to the teams who made this transaction possible. 

“Throughout this process, we’ve seen strong cultural alignment grounded in care between Playa and Hyatt,” he added, “which has been key to achieving this milestone and will help us deliver even more memorable all-inclusive experiences for guests.”