Hyatt Hotels Corporation has announced a definitive agreement to acquire all outstanding shares of Playa Hotels & Resorts N.V. for $13.50 per share, in a deal valued at approximately $2.6 billion, including $900 million of debt. The move further strengthens Hyatt’s position as a leader in the all-inclusive resort market across Mexico, the Dominican Republic, and Jamaica.
The acquisition builds on Hyatt’s long-standing relationship with Playa, which has played a key role in the success of the Hyatt Ziva and Hyatt Zilara brands since their launch in 2013. Currently, Hyatt owns 9.4% of Playa’s shares and has worked closely with the company on the management and operation of eight all-inclusive resorts under its brands.
“Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began with our investment in Playa over a decade ago,” said Mark Hoplamazian, President and Chief Executive Officer of Hyatt. “This transaction allows us to broaden our portfolio while enhancing value for our stakeholders through an expanded management platform for all-inclusive resorts.”
Playa’s portfolio includes a collection of high-quality resorts in some of the region’s most sought-after destinations. By bringing these properties under Hyatt’s umbrella, the company aims to strengthen its presence in key leisure markets and leverage its extensive distribution network, including ALG Vacations and Unlimited Vacation Club, to drive further growth.
The acquisition follows Hyatt’s previous expansion efforts, including its 2021 acquisition of Apple Leisure Group and a 50/50 joint venture with Grupo Piñero in 2024, which added the Bahia Principe Hotels & Resorts to its Inclusive Collection. Today, Hyatt’s all-inclusive footprint spans approximately 55,000 rooms across Latin America, the Caribbean, and Europe.
Despite the acquisition, Hyatt remains committed to its asset-light business model and plans to sell Playa’s owned properties to third-party buyers. The company expects to generate at least $2 billion from asset sales by the end of 2027, with asset-light earnings projected to exceed 90% on a pro forma basis. Hyatt will finance the acquisition entirely through new debt but aims to repay over 80% of the amount through proceeds from asset sales, maintaining its investment-grade credit profile. The transaction is expected to close later this year, subject to approval from Playa’s shareholders and regulatory authorities, as well as other customary closing conditions.
Subscribe to our newsletter below