by Lacey Pfalz
Last updated: 8:40 AM ET, Mon June 30, 2025
Hyatt Hotels Corporation, not a month after finalizing its purchase of resort company Playa Hotels & Resorts, has entered into an agreement to sell all of the brand’s own real estate to Tortuga Resorts for $2 billion.
Playa’s portfolio includes 15 all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. The sale includes 50-year management contracts for 13 of the resorts, while two others are under separate arrangements.
Once the sale of the properties is complete, Hyatt reports that its net purchase price for Playa’s asset-light management business is around $555 million. It will use the funds earned from the sale to repay the delayed draw term loan it used to fund a portion of the initial acquisition.
The resorts will remain under Hyatt management, remaining as part of the World of Hyatt loyalty program and as Inclusive Collection properties.
“The planned real estate sale to Tortuga transforms the acquisition of Playa Hotels & Resorts into a fully asset-light transaction and increases Hyatt’s fee-based earnings,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt.
“Hyatt has secured long-term, durable management agreements and the planned real estate sale demonstrates Hyatt’s commitment to its asset-light business model and ability to deliver value to shareholders that is accretive in the first full year.”
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