Playa Hotels & Resorts N.V. entered an agreement for a business combination with Sagicor Group Jamaica Limited, which will add a portfolio of five all-inclusive resorts and two adjacent oceanfront developable land sites to be owned and managed by Playa.

The portfolio includes four existing resorts including the 489-room Hilton Rose Hall, the 268-room Jewel Runaway Bay, the 250-room Jewel Dunn’s River, and the 225-room Jewel Paradise Cove, as well as an 88-room hotel tower and spa located at the Jewel Grande Montego Bay Resort & Spa. Playa will manage the entire Jewel Grande Montego Bay Resort & Spa at closing of the transaction. Sagicor is also contributing two developable land sites on the North Coast of Jamaica with a potential density of up to 700 rooms, as well as a hotel management contract for the Jewel Grande Palmyra.

Playa currently owns and operates the Hyatt Zilara Rose Hall and Hyatt Ziva Rose Hall in Jamaica.

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