by Lacey Pfalz
Last updated: 9:10 AM ET, Tue February 25, 2025
Hyatt Hotels Corporation has begun a cash tender offer to purchase all outstanding ordinary shares of Playa hotels & Resorts N.V. through an indirect wholly owned subsidiary called HI Holdings Playa B.V.
The offer will purchase the shares for $13.50 per share in cash. The offer comes in conjunction with the acquisition agreement made on February 9 to purchase Playa Hotels & Resorts.
Hyatt’s subsidiary currently owns 9.4 percent of Playa’s outstanding shares. The tender offer expires on April 25.
The original acquisition plan came on February 10 after months of discussion and rumor. Estimated at $2.6 billion, Hyatt’s acquisition of Playa would add over twenty all-inclusive resorts to its growing Inclusive Collection by Hyatt portfolio as well as its World of Hyatt loyalty program.
“Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt when the acquisition announcement was made.
“We have respected and benefitted from Playa’s operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels,” continued Hoplamazian. “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.”
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