Reported about 14 hours ago
Hyatt Hotels has agreed to sell Playa Hotels' real estate portfolio to Tortuga Resorts for $2 billion, aimed at enhancing its asset-light business model. Following a previous acquisition of Playa for $2.6 billion, this sale will reduce Hyatt's net purchase price for Playa's remaining operations to approximately $555 million. The deal involves a 50-year property management agreement, allowing Hyatt to maintain operational control. The sale, pending regulatory approval, is expected to close by the end of 2025.
Source: YAHOO