Hyatt to Acquire Playa Hotels for $2.6 Billion

Hyatt Hotels Corporation (H) entered a merger agreement on February 10, 2025, to acquire Playa Hotels & Resorts N.V. (PLYA) for $2.6 billion, including debt.

Deal Structure:

Under the terms of the agreement, Hyatt will acquire all outstanding shares of Playa for $13.50 per share, representing a premium of 4.33% from the stock’s last close.

Company Profile:

Playa Hotels & Resorts is an owner, operator, and developer of all-inclusive beachfront resorts in Mexico, Jamaica, and the Dominican Republic, managing 24 properties under renowned brands like Hyatt Zilara, Hilton All-Inclusive, and Wyndham Alltra.

Hyatt Hotels is a global hospitality company based in Chicago, managing over 1,350 properties across 79 countries under renowned brands like Park Hyatt, Andaz, and Hyatt Ziva.

Deal Details and Timeline:

Hyatt in December last year, entered an exclusivity agreement with Playa to explore various strategic options for its investment in the company. During the exclusivity period, Hyatt asked Playa to not engage in any discussions or negotiations with a third party. Playa’s stock was trading at $9.61 per share before it entered the exclusivity agreement with Hyatt.

Hyatt, which currently owns 9.4% of Playa, expects to close the merger later this year.

The merger helps Hyatt expand in the Mexico and Caribbean regions where Playa operates.

Hyatt plans to fund the entire acquisition with new debt and will use proceeds from asset sales to pay off over 80% of the debt.

Playa Hotels & Resorts received financial advice from PJT Partners and legal counsel from Hogan Lovells and NautaDutilh. Hyatt was advised on financial matters by BDT & MSD Partners, BofA Securities, J.P. Morgan, and Wells Fargo, with legal counsel from Latham & Watkins.

The acquisition price signifies that Hyatt is paying 1.86 times sales for Playa.

Deal Metrics:

To explore more about this M&A deal, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Playa Hotels & Resorts N.V. (PLYA) by Hyatt Hotels Corporation (H)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article