Hyatt to offload Playa real estate, remain operator
🏠 Hyatt recently completed the $2.6 billion acquisition of Playa Hotels & Resorts. Days later, Hyatt agreed to sell Playa’s 15-resort real estate portfolio in Mexico, the Dominican Republic, and Jamaica to Tortuga Resorts for $2 billion. The deal includes 50-year management agreements for 13 properties and a retained $200 million preferred equity. Closing is expected by 2025, subject to approval. This transaction aligns with Hyatt’s asset-light strategy, boosting its all-inclusive portfolio to around 55,000 rooms.
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