Hyatt To Acquire Playa Hotels & Resorts In Mexico, Jamaica And Dominican Republic For $2.6b

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Hospitality giant Hyatt will soon acquire Playa Hotels & Resorts for about $2.6 billion, the corporation announced on Monday.

Currently, Hyatt owns 9.4% of Playa's shares and when the acquisition is complete, Hyatt will take on approximately $900 million worth of Playa's accumulated debt, according to a news release. The acquisition is expected to be completed by the end of 2025.

“We have respected and benefitted from Playa’s operating expertise and outstanding guest experience delivery for years ..." Mark Hoplamazian, Hyatt president and CEO, said in a news release. "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.”

A Hyatt spokesperson told USA TODAY that the company is looking forward to sharing more details as the pending transaction closes.

The Playa acquisition adds to Hyatt's ever-growing portfolio. In 2021, Hyatt acquired Apple Leisure Group and last year, Hyatt completed a 50/50 joint venture with Grupo Piñero, according to a news release. Through this venture, Hyatt obtained the Bahia Principe Hotels & Resorts brands in Latin America, the Caribbean and Europe.

Playa Hotels & Sorts owns and operates all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. Popular resorts include Wyndham Alltra in Playa del Carmen, Mexico; Jewel Grande Resort & Spa in Montego Bay, Jamaica; and Seadust Cancun Family Resort in Cancun, Mexico.

In 2013, Hyatt began to invest in Playa, which resulted in the Hyatt Ziva and Hyatt Zilara brands throughout the Caribbean.

Greta Cross is a national trending reporter at USA TODAY. Follow her on X and Instagram @gretalcross. Story idea? Email her at gcross@usatoday.com.