PLAYA HOTELS & RESORTS acquired by HYATT

Hyatt Hotels completed the acquisition of Playa Hotels & Resorts, the all-inclusive resort operator listed on Nasdaq, on 17 June 2025, at an implied enterprise value of $1–10bn. The transaction took the form of an all-cash tender offer at $13.50 per share, launched through HI Holdings Playa under a purchase agreement signed on 9 February 2025, and completed once the Mexican competition authority had cleared it in June. The purchase added 15 all-inclusive resorts owned and operated by Playa, eight of which already ran within Hyatt’s system under the Hyatt Ziva and Hyatt Zilara brands. The two companies had worked together since 2013, when they created those brands, and Hyatt had been building its position in the all-inclusive segment since, buying Apple Leisure Group in 2021 and entering a joint venture with Grupo Piñero for Bahia Principe Hotels & Resorts in 2024. Chairman and chief executive Bruce Wardinski left the company in connection with the transaction. BDT & MSD Partners acted as lead financial adviser to Hyatt, with Berkadia as real estate adviser and Latham & Watkins as legal counsel.

The acquisition of Playa Hotels & Resorts is part of the growth strategy of Hyatt, which already has several external growth operations under its belt, notably Standard International in 2024.