Hyatt Hotels Corporation is set to take over Playa Hotels & Resorts in a significant move that will reshape the all-inclusive resort landscape. This $2.6 billion deal, including approximately $900 million in debt, values Playa’s shares at $13.50 each. The acquisition will strengthen the company’s position in the luxury all-inclusive market, particularly in Mexico, the Dominican Republic and Jamaica.
“Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt, in a press statement. “We have respected and benefitted from Playa’s operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels. This pending transaction allows us to broaden our portfolio while providing more value to all of our stakeholders through an expanded management platform for all-inclusive resorts.”
Hyatt Takes the Lead in All-Inclusive
The company’s takeover of Playa’s portfolio, which includes resorts in prime locations, will secure long-term management agreements for the Hyatt Ziva and Hyatt Zilara brands. The deal will also expand its distribution channels—integrating ALG Vacations and Unlimited Vacation Club with Playa’s portfolio will offer additional perks to guests staying at Playa hotels.
Hyatt’s growth in the all-inclusive sector has been strategic and swift. The acquisition of Apple Leisure Group in 2021 marked a significant step in this direction. More recently, in 2024, the company completed a 50/50 joint venture with Grupo Piñero, bringing the Bahia Principe Hotels & Resorts into Hyatt’s Inclusive Collection. This collection now spans approximately 55,000 rooms across Latin America, the Caribbean and Europe.
Despite this substantial acquisition, the brand remains committed to its asset-light business model. The company plans to identify third-party buyers for Playa’s owned properties, aiming to realize at least $2.0 billion in proceeds from asset sales by the end of 2027. This strategy aligns with its goal of having over 90 percent of its earnings come from asset-light operations by 2027 on a pro forma basis.
The deal’s financial structure involves Hyatt funding the acquisition entirely through new debt financing. However, the company expects to pay down over 80 percent of this new debt using proceeds from asset sales, maintaining its investment-grade profile.
The acquisition is expected to close later this year, subject to Playa shareholder and regulatory approvals and other standard closing conditions.
For more information, visit hyatt.com.
