Hyatt Hotels Corp has revealed it is in exclusive talks with Playa Hotels & Resorts over a possible acquisition.
it has an exclusivity agreement with Playa to discuss strategic options which includes a potential purchase of the business.
Hyatt CEO Mark S. Hoplamazian, said, “Playa has been a valuable partner for many years, is one of the world’s strongest operators of all-inclusive resorts.”
“Strategic alternatives under consideration could add new incremental durable fee streams for Hyatt. If this process continues, we will continue to map out a clear path for an asset-light outcome.”
Hyatt’s discussions with Playa are not guaranteed to lead to a deal, it says.
Hyatt currently owns 9.99% of Playa’s outstanding shares.
Playa owns and operates several Hyatt resort properties across the Caribbean and Mexico as Hyatt Zilara and Hyatt Ziva branded resorts.
Playa owns or manages a total of 24 resorts in the region with several under other major hotel brands like Hilton and Marriott.
