US EditionHyatt, Playa Deal Sealed With $2 Billion Property Sale, Underscoring Asset-Light Strategy
4 Articles
4 Articles
Hyatt Hotels Corporation has closed the sale of the property portfolio previously purchased from Playa Hotels & Resorts to Tortuga Resorts, an investment and asset management platform focused on luxury beach hotels in Mexico and the Caribbean, for approximately $2 billion (equivalent to about 1.7 billion euros), according to the hotel chain in a statement. Continue reading
Jasmín Ramos / Grupo Canton The Hyatt chain concluded the sale of its real estate portfolio from Playa Hotels & Resorts to Tortuga Resorts, strengthening its hotel management strategy. Cancun .-Hyatt Hotels Corporation announced the sale of its real estate portfolio from Playa Hotels & Resorts N.V. to Tortuga Resorts, a platform for investment and management of [...] The post Hyatt sells hotel portfolio in Mexico and the Caribbean for 200 mdd ap…
Hyatt $2B Playa Sale Closes, Cementing Asset-Light Pivot
Hyatt Hotels Corp. has finalized the long-anticipated Hyatt $2B Playa sale, completing the divestiture of a vast real estate portfolio to Tortuga Resorts in a deal that redraws the company’s balance sheet and its future in all-inclusive hospitality. The closing, announced Dec. 30, transfers ownership of 14 all-inclusive resorts across Mexico, the Dominican Republic and Jamaica, a transaction first unveiled in late June. A Deal Years in the Makin…
Hyatt, Playa Deal Sealed With $2 Billion Property Sale, Underscoring Asset-Light Strategy
Hyatt Hotels has completed the sale of a portfolio of resort real estate it acquired from Playa Hotels & Resorts N.V., closing a roughly $2 billion transaction that reinforces the company’s long-standing push toward an asset-light model. The properties were sold to Tortuga Resorts, with Hyatt retaining a continuing role as operator. Under the agreement, Hyatt and Tortuga entered into 50-year management contracts covering 13 of the 14 hotels incl…
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