Mergers & Acquisitions

👤 CHICAGO, Illinois—Hyatt Hotels Corporation announced an exclusivity agreement with Playa Hotels & Resorts N.V. (NASDAQ: PLYA) for potential strategic alternatives, including a possible acquisition. Mark S. Hoplamazian, President and CEO of Hyatt, highlighted Playa's strong operation of all-inclusive resorts and quality portfolio. Hyatt, owning 9.99% of Playa's outstanding shares, has filed an amendment to its Schedule 13D with the SEC. No further comments will be made until a definitive agreement is reached.

🏨 Hyatt Hotels Corporation announced on Monday an exclusivity agreement with Playa Hotels & Resorts for potential strategic alternatives, including acquisition. The agreement lasts until February 3, 2025. Playa manages 24 resorts and works with Hyatt on 8 all-inclusives. In November 2021, Hyatt acquired Apple Leisure Group, adding to its inclusive offerings. Hyatt's Inclusive Collection room portfolio is expected to grow by 30% through a strategic joint venture with Grupo Piñero, managing Bahia Principe-branded hotels. Marriott and Hilton are also expanding in the all-inclusive segment. Hyatt holds 9.99% of Playa’s shares and has disclosed the discussions as per securities laws.

🏖️ WaterWalk Phoenix North Happy Valley in Kansas was sold to Ignite Hotels LLC in February 2023, marking WaterWalk Holding Company’s first asset sale. The property is a 126-unit hotel featuring both furnished and unfurnished upscale extended-stay units. WaterWalk Hospitality will continue managing the location under the WaterWalk Extended Stay by Wyndham brand post-sale. The extended-stay market is expanding, driven by rising demand from various traveler types. This strategic investment is brokered by HREC, fostering partnership between WaterWalk Hospitality and Ignite Hotels.

🏨 Rockbridge acquired three Hotel ZaZa properties in Texas: Austin Downtown (159 rooms, 6,840 sq ft meeting space), Dallas Uptown (166 rooms, 5,528 sq ft meeting space), and Houston Museum District (315 rooms, 15,400 sq ft meeting space). Rockbridge CEO Jimmy Merkel plans to enhance the ZaZa brand, building on its 25-year history. The firm has invested in over 310 properties across 39 states, totaling $11 billion in capitalization, with $4.3 billion assets under management.

🏠 NORWALK, Connecticut—Renaissance Meadowlands Hotel acquired by HEI and Westport Capital Partners joint venture, marking HEI's first partnership with Westport. Hotel features include 167 guestrooms, Finch’s Restaurant and Lounge, a fitness center, and approximately 5,700 sq. ft. of meeting space. Located near American Dream, Meadowlands Stadium, and Teterboro airport. Meadowlands Stadium to host 8 FIFA World Cup games in 2026. CEOs of both HEI and Westport express enthusiasm for the property and partnership's potential.

🎄 Blenheim Palace experienced a 50% increase in group visits during the 2024 festive season with its Neverland themed Christmas event, in partnership with Great Ormond Street Hospital. Key events for 2025 include the Blenheim Palace Food Festival (24th – 26th May), Flower Show (27th – 29th June), and a Jousting Tournament (3rd – 5th May). Planning is already in progress for Christmas 2025. The success supports the hospital with each ticket sold.

🔔 Marcus & Millichap announced the sale of Hu. Hotel, a 110-room property, located at 79 Madison Ave., Memphis, Tennessee. The local private buyer, Nick Patel, was represented by Mitchell Presas, Skyler Cooper, Chris Gomes, and Allan Miller. The hotel is in the former Tennessee Trust Building, built in 1905 and on the National Register of Historic Places since 1982. It's close to Beale Street and features a rooftop bar and fitness center. The property was a bank before turning into a hotel in 2002 and was renovated around 2018-2019.

🍔 New York-based Goode Partners LLC invests in Texas-based Wings ‘N More Restaurants LLC, which operates seven locations in College Station/Bryan, Corpus Christi, and Houston. Wings ‘N More, founded in 1986 by former NFL player Mark Dennard, features a full-service and express model offering wings, ribs, and more. Goode Partners, also an early investor in Chuy's in 2006, alongside debt financing from Gladstone Capital Corporation, aims to accelerate Wings 'N More's expansion. Dennard expresses excitement for the brand's growth and new opportunities for team members.

📌 In Dallas, Texas, TPG Hotels & Resorts has added the Sheraton McKinney Hotel to its managed portfolio following the acquisition by LXMI Capital. The 187-room hotel features an outdoor pool, a fitness center, over 16,000 square feet of meeting space, and an 82-seat restaurant. It is located at the intersection of US-75 and SH-121, close to North Dallas corporations and attractions. The nearby $200-million Sunset Amphitheater is set to open in 2026.