Hyat Hotel, headquartered in Illinois’s Chicago, announced on Monday to buy Playa Hotel & Resorts for $ 2.6 billion, including $ 900 million.
This purchase is part of the Hotel Group’s plan -based hotel group Expand its presence in Mexico And Caribbean.
“This pending transaction allows us to expand our portfolio, while all our shareholders offer higher value Has been reported in a statement.
Playa, a Fairfax -based site of Virginia, currently owns or directs resorts that include 24 luxury and all over the Republic of Mexico, Jamaica and Dominican.
Hyat already owns 9.4% of shares in Playa, and has come forward to pay 50 13.50 for purchase, which expects it to be closed by the end of the year, the shareholder and regulatory approval is pending.
The company will fund the acquisition with the new credit funding. This is aimed at selecting third -party buyers for property owned by Playa to raise at least $ 2 billion from the sale of assets by 2027.
Hayat’s property-light business model means that the operator manages or owns more than its rights. It plans to repay its debt using this model.
Playa’s Portfolio has some resorts managed by competitors such as Hilton Worldwide, Mary International, Vindham and the United Kingdom -based Inter -Continental Hotel Group’s Kimpton Brand.
As the Reuters announced, it is uncertain whether the Hyat will be allowed to change non -Hiat branded hotels to the Hayat name.
Hiad entered the market in 2013 and later expanded its portfolio. In 2021, the American hotel operator acquired the Apple Leeser Group, and in 2024, it completed a joint venture with Grubo Binro, which included the offerings of the Bahia Prince’s Hotels and Resorts. It provided rooms with all 55,000 rooms across Latin America, Caribbean and Europe.
Includes Hiad Portfolio as of September 30, 2023 Over 1,300 hotels And the assets that include all of the 76 countries on the six continents.
With reports from Reoid And Wall Street Journal
