Any potential deal’s terms are yet to be determined in the exclusive talk between Hyatt and Playa. Credit: katatonia82/Shutterstock.

Hyatt Hotels has entered an exclusivity agreement with Playa Hotels & Resorts, initiating exclusive negotiations that could lead to Hyatt’s acquisition of Playa.  

While the outcome remains uncertain, Hyatt has committed to keeping stakeholders informed following any conclusive developments. 

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The discussions between Hyatt and Playa provide no certainty of a transaction materialising.  

Any potential deal’s terms are yet to be determined. Hyatt has stated it will not provide further commentary on the ongoing discussions until a definitive agreement is reached. 

Hyatt president and chief executive officer Mark S. Hoplamazian said: “Playa has been a valuable partner for many years, is one of the world’s strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic locations and key markets across the Caribbean and Mexico.  

“Strategic alternatives under consideration could have compelling strategic merit to add new incremental durable fee streams for Hyatt. We remain steadfastly committed to our asset-light business model and if this process continues, we will continue to map out a clear path for an asset-light outcome for any strategic alternatives we undertake.” 

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In compliance with US federal securities regulations, Hyatt, which holds nearly 10% of Playa’s outstanding shares, has updated its Schedule 13D filing with the US Securities and Exchange Commission to reflect these negotiations. 

In a separate development earlier in the month, Hyatt expanded its luxury travel offerings by entering a strategic long-term licensing agreement with The Venetian Resort in Las Vegas, US. 

This partnership aligns with Hyatt’s growth strategy and enhances its luxury hotel portfolio while offering guests the perks of the World of Hyatt loyalty program during their stay at The Venetian Resort.