Hyatt to acquire Playa Hotels for $2.6 billion to expand in Caribbean, Mexico

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The acquisition follows rising interest in upscale and luxury offerings outside the U.S. as more Americans take advantage of a stronger dollar. Playa runs 24 high-end, all-inclusive resorts across Mexico, Jamaica and the Dominican Republic. Hyatt has offered $13.50 per Playa share held, representing a 40.5% premium to its last close on December 20, before the companies announced deal talks. It said it would identify third-party buyers for Playas owned properties and expects to gain at least $2 billion from the sale of assets by 2027. This is part of Hyatts asset-light business model, where the operator prefers not to own physical properties but to manage or franchise them.

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