Reported about 12 hours ago
Hyatt Hotels announced its intention to acquire Playa Hotels & Resorts for approximately $2.6 billion, including debt, as part of its strategy to expand its presence in Mexico and the Caribbean. The deal comes as Americans increasingly seek upscale vacation options abroad due to a stronger dollar. Hyatt has proposed $13.50 per share for Playa, a premium of 40.5%, and expects the acquisition to close later this year. The hotel chain also plans to divest some of Playa's assets, aligning with its asset-light business approach.
Source: YAHOO