Hyatt in Talks to Acquire Playa Hotels & Resorts
by Briana Bonfiglio
Playa Hotels & Resorts will manage Kimpton Tres Rios, part of IHG Hotels & Resorts, which will open in early 2025. The Mexico property will be the first all-inclusive for the Kimpton brand. Photo: Playa Hotels & Resorts
Hyatt and Playa Hotels & Resorts have entered into an exclusivity agreement, meaning Playa will negotiate only with Hyatt on a deal that could include Hyatt’s acquisition of the company.
The agreement will last until a deal is reached or until Feb. 3, 2025. Playa Hotels & Resorts owns and operates all-inclusive resorts in Mexico, Jamaica, and the Dominican Republic 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.
“We are pleased to enter into exclusive discussions with Hyatt regarding potential strategic options,” said Bruce D. Wardinski, chairman and CEO of Playa Hotels & Resorts. “Hyatt’s interest in our company is a testament to the strength of our business and the dedication of our incredible Playa team.”
Mark S. Hoplamazian, president and CEO of Hyatt, also commented on the announcement, calling Playa “a valuable partner for many years,” and “one of the world’s strongest operators of all-inclusive resorts [with] a premier portfolio of high-quality, high-end all-inclusive resorts in iconic locations and key markets across the Caribbean and Mexico.”
