Hyatt Needs to Purchase Playa Motels & Resorts
🔃 Replace (Feb 03, 2025) – Hyatt Motels at present introduced it has prolonged its beforehand disclosed exclusivity settlement date with Playa Motels & Resorts, below which Playa has agreed to barter completely with Hyatt concerning potential strategic alternate options and which can embody the acquisition of Playa by Hyatt. The exclusivity interval has been prolonged via February 10, 2025.
➡️ Replace (Dec 23, 2024) – Hyatt Motels at present disclosed it has executed an exclusivity settlement with Playa Motels & Resort below which Playa has agreed to barter completely with Hyatt for a possible acquisition of Playa by Hyatt.
“Playa has been a priceless companion for a few years, is without doubt one of the world’s strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic areas and key markets throughout the Caribbean and Mexico,” mentioned Mark S. Hoplamazian, President and Chief Government Officer of Hyatt. “Strategic alternate options into account might have compelling strategic benefit so as to add new incremental sturdy payment streams for Hyatt. We stay steadfastly dedicated to our asset-light enterprise mannequin and if this course of continues, we are going to proceed to map out a transparent path for an asset-light final result for any strategic alternate options we undertake.”
Hyatt says in a press launch that there may be no assurances that any transaction will outcome from Hyatt’s unique discussions with Playa, or on what phrases. Hyatt doesn’t intend to remark additional on these discussions except and till a definitive settlement has been totally executed.
Playa Motels & Resorts additionally confirmed the information. Playa says that the exclusivity settlement will stay in place till the sooner of the execution of a definitive settlement for such transaction or 11:59 p.m. New York Metropolis time on February 3, 2025.
“Our Board and administration staff usually evaluate our construction, technique and alternatives to reinforce shareholder worth, and we’re happy to enter into unique discussions with Hyatt concerning potential strategic choices,” mentioned Bruce D. Wardinski, Chairman and CEO of Playa Motels & Resorts. “Hyatt’s curiosity in our firm is a testomony to the energy of our enterprise and the dedication of our unbelievable Playa staff. The Playa Board and administration staff will stay open-minded and proceed to behave in one of the best pursuits of all Playa shareholders.”
Hyatt has been aggressive about including extra all-inclusives and different manufacturers to its portfolio lately. It has acquired manufacturers similar to Alila, Thompson Motels, the all-inclusive portfolio of Apple Leisure Group, Mr & Mrs Smith, Customary Motels, and me and all lodges.
Playa Motels & Resorts
Playa at present owns and/or manages a complete portfolio consisting of 24 resorts (9,027 rooms) below the next manufacturers: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry Assortment by Hilton, Wyndham Alltra, Seadust, Kimpton, Jewel Resorts and The Luxurious Assortment.
These all-inclusive resorts are positioned in Dominican Republic, Mexico and Jamaica. As you possibly can most likely inform by the names of the resorts, they belong to different well-liked packages similar to Hilton, IHG and Wyndham, in addition to Hyatt.
