Hyatt completes $2.6B acquisition of Playa Hotels & Resorts
Hyatt Hotels completed its $2.6 billion acquisition of Playa Hotels & Resorts, an owner, operator and developer of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica, the hotel company announced Wednesday.
Hyatt first announced it was in exclusive talks to merge with Playa in December. In February, Hyatt officially entered into an agreement with Playa to acquire all of its outstanding shares for $13.50 per share, or approximately $2.6 billion. Earlier this month, Hyatt obtained all required regulatory approvals on that cash offer.
With the deal, Hyatt grows its portfolio of all-inclusive resorts. Industrywide, hotel companies have leaned on brand acquisitions to quickly scale their portfolios and loyalty membership.
The deal strengthens Hyatt's 'leadership in the all-inclusive space through a combination of new locations, capabilities, and talent,' according to Hyatt CEO Mark Hoplamazian, adding that Playa's all-inclusive management platform 'complements Hyatt's global scale and brand strength, enabling us to deliver compelling experiences for guests and members while driving strong performance for owners.'
Through the acquisition, Hyatt assumes 15 all-inclusive resorts previously managed and owned by Playa, including Secrets La Romana and Dreams La Romana in the Dominican Republic; Dreams Rose Hall in Montego Bay, Jamaica; and Hyatt Vivid Playa del Carmen and Sunscape Cancun in Mexico. Eight of the resorts are already in Hyatt's system under the Hyatt Ziva and Hyatt Zilara brand, which launched in collaboration with Playa in 2013, Hyatt detailed.
Hyatt previously expanded its all-inclusive portfolio with its 2021 acquisition of Apple Leisure Group. In 2024, Hyatt entered a strategic joint venture with Grupo Piñero for Bahia Principe Hotels & Resorts.
Beyond growing physical scale, brand acquisitions and partnerships enable hotel players to expand loyalty capabilities and customer reach, hospitality pros previously told Hotel Dive.
'Hyatt's loyalty program, World of Hyatt, and all-inclusive distribution platform, which includes ALG Vacations and Unlimited Vacation Club, are complemented by Playa's commercial capabilities,' Javier Águila, president of Hyatt's Inclusive Collection, said in a statement. Águila was named to his role earlier this year.
Hyatt has used brand acquisition to grow its lifestyle portfolio as well. In August, the hotel company acquired Standard International. That deal followed other tie-ups with Dream Hotel Group, Mr & Mrs Smith and German brand Me and All Hotels.
Marriott International and Hilton have also recently expanded in the competitive lifestyle segment via their acquisitions of CitizenM and Graduate Hotels, respectively.
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