Hyatt Hotels Corporation confirmed an agreement to acquire Playa Hotels & Resorts for $2.6 billion. Playa is one of the leading owners and operators of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica, with a portfolio of 24 properties totaling 8,627 guest rooms.
Hyatt owned about 9.3% of Playa’s stock prior to the acquisition. The two companies announced an exclusivity agreement in December, signaling that a potential acquisition was in the works.
The now-confirmed acquisition represents Hyatt’s latest move into the all-inclusive market following its 2021 acquisition of Apple Leisure Group and a 2024 joint venture with Grupo Pinero. That 2024 venture added Bahia Principe Hotels & Resorts to Hyatt’s Inclusive Collection, which had more than 120 properties across Latin America, the Caribbean and Europe as of late 2024.
“Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands,” Mark Hoplamazian, president and CEO of Hyatt, said in a Hyatt press release. “We have respected and benefitted from Playa’s operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels. This pending transaction allows us to broaden our portfolio while providing more value to all of our stakeholders through an expanded management platform for all-inclusive resorts.”
With the acquisition, Hyatt will also take on approximately $900 million of Playa’s accumulated debt, providing a potential explanation for Playa’s decision to enter the acquisition agreement. The acquisition is expected to be fully complete by the end of 2025.
"We are pleased to enter into this agreement with Hyatt and look forward to delivering the many benefits of the transaction to Playa's shareholders, guests, employees and other stakeholders," said Bruce D. Wardinski, chairman and CEO of Playa Hotels & Resorts in a Playa press release. "Following a deliberate and comprehensive review of opportunities, the Playa Board concluded that the proposed transaction with Hyatt is in the best interest of the company.”
