Potential Acquisition of Playa Resorts by Hyatt Under Discussion

Hyatt Hotels Corporation has entered into an exclusive negotiation agreement with Playa Hotels & Resorts N.V. The agreement allows Hyatt to exclusively negotiate potential strategic options with Playa, potentially leading to Hyatt acquiring the resort company.

Mark S. Hoplamazian, the CEO of Hyatt, acknowledged the long-standing partnership between the two companies and highlighted Playa’s strong reputation as a leading operator of all-inclusive resorts with a portfolio of high-quality locations across the Caribbean and Mexico. The potential transaction could provide Hyatt with new, long-term sources of revenue, aligning with their asset-light business strategy.

However, it’s important to note that these discussions may not necessarily result in a transaction, and the terms of any potential deal are yet to be determined. Hyatt has stated that further comments on these discussions will not be provided until a definitive agreement is finalized.

Hyatt, which currently owns 9.99% of Playa’s outstanding shares, has filed an amendment to its Schedule 13D with the U.S. Securities and Exchange Commission to publicly disclose these discussions, as required by federal securities laws.