Photo courtesy of Hyatt Ziva Los Cabos
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) today confirmed it has entered into an agreement with Hyatt Hotels Corporation (NYSE: H) under which an indirect wholly owned subsidiary of Hyatt will acquire all outstanding shares of Playa for $13.50 per share in cash, or approximately $2.6 billion, including approximately $900 million of debt. Playa is a leading owner and operator of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica, and Hyatt is currently the beneficial owner of 9.4% of Playa’s outstanding shares. The deal is expected to close later this year.
