Hyatt Hotels Corporation announced the purchase of Playa Hotels and Resorts, having signed an agreement to buy all the shares in circulation at US$13.50 per share, in other words, approximately US$2.6 billion, including some US$900 million in debt, all with a view to broadening their portfolio of all-inclusive hotels. <\/p>\n\n\n\n
Playa is the owner and operator of all-inclusive hotels in Dominican Republic, Mexico and Jamaica. <\/p>\n\n\n\n
\u201cHyatt has become a solid leader in the all-inclusive sphere, a route that started in 2013 with the investment in Playa Hotels and Resorts hat launched the brands Hyatt Ziva and Hyatt Zilara\u201d, stated Mark Hoplamazian, chairman and executive director of Hyatt. <\/p>\n\n\n\n
He said \u201cWe respected and have benefited from Palya\u2019s operative experience and the excellent experience it offers its guests over the years through owning and operating eight of out Hyatt Ziva and Hyatt Zilara hotels. This upcoming transaction will allow us to broaden our portfolio while providing more value to our shareholders through an expanded management platform for all-inclusive resorts. <\/p>\n\n\n\n
He said that the upcoming purchase is a chance to ensure long term management contracts for the Hyatt Ziva and Hyatt Zilara luxury all-inclusive properties. <\/p>\n\n\n\n
He also indicated plans to expand the Hyatt distribution channels to the portfolio, including ALG Vacations and Unlimited Vacation Club, offering additional benefits to hotel guests. <\/p>\n\n\n\n
They indicated that the purchase marks the next step in an important journey of growth for the Hyatt all-inclusive range, including Apple Leisure Group in 2021, and the completion, in 2024, of a 50\/50 strategic joint venture with Grupo Pi\u00f1ero, which added the Bahia Principe Hotels and Resorts company to Hyatt’s Inclusive Collection, which currently encompasses approximately 55,000 rooms in Latin America, the Caribbean and Europe. <\/p>\n\n\n\n
At closing, Hyatt expects to finance 100% of the acquisition with new debt financing and, consistent with maintaining its investment grade profile, and expects to repay more than 80% of the new debt financing from proceeds from asset sales. <\/p>\n\n\n\n
The acquisition is anticipated to close later this year, subject to regulatory and shareholder approval of Playa, as well as other customary closing conditions. <\/p>\n","protected":false},"excerpt":{"rendered":"
Hyatt Hotels Corporation announced the purchase of Playa Hotels and Resorts, having signed an agreement to buy all the shares in circulation at US$13.50 per share, in other words, approximately US$2.6 billion, including some US$900 million in debt, all with…<\/p>\n","protected":false},"author":9,"featured_media":11203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-11205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"\n