Playa Hotels Merges With TPG, Plans To Go Public
by Jessica MontevagoThe Hyatt Ziva is operated by Playa Hotels & Resorts. Photo: Hyatt Corporation
Playa Hotels & Resorts will combine with an affiliate of private-equity company TPG and go public next year.
The publicly-listed company – which will keep the Playa name – is expected to be valued at approximately $1.75 billion.
The merger will provide Playa Hotels with an additional $500 million of capital to pursue acquisitions and enhance distribution, the company said.
Playa owns and operates 13 properties in Mexico, the Dominican Republic and Jamaica under Hyatt Ziva, Gran, Dreams, Hyatt Zilara, THE Royal and Secrets brand names.
The deal is expected to close in the first quarter of 2017.
