Hyatt Extends Discussions with Playa Hotels on Potential Acquisition

Playa Hotels & Resorts and Hyatt Hotels Corporation have extended their exclusivity agreement, reached late last year, which could end in the acquisition of Playa by Hyatt. 

The agreement has been extended until 11:50 pm EST on Feb. 10, giving the two another week to come to a deal. In a press release, Playa states: “There can be no assurance that the company and Hyatt will enter into a definitive agreement for a potential transaction and there is no assurance as to the form, terms or timing of any transaction even if an agreement is reached between the parties.”

Playa says it will not comment further until it is appropriate or required.

Playa Hotels & Resorts is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in Mexico, Jamaica and the Dominican Republic. 

The company currently owns and/or manages a total portfolio consisting of 24 resorts and 8,627 rooms) under the following brands: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry Collection by Hilton, Wyndham Alltra, Seadust, Kimpton, Jewel Resorts and The Luxury Collection. 

Playa’s strategy is to “leverage its years of all-inclusive resort operating expertise and relationships with globally recognized hospitality brands to provide a best-in-class experience and exceptional value to guests.”