Global hospitality company Hyatt Hotels has initiated a cash tender offer to acquire all outstanding shares of Playa Hotels & Resorts.
The offer proposes to purchase Playa Hotels & Resorts’ shares at $13.50 per share, minus any applicable withholding taxes and without interest. The tender offer is set to expire at 5pm New York City Time on 25 April 2025. This offer is in line with the purchase agreement signed between the two companies on 9 February 2025.
Earlier this month, Hyatt and Playa announced that their negotiations, including the potential acquisition of Playa, would continue under an extended period of exclusivity. This agreement was first disclosed in December 2024, and under the terms of the deal, Hyatt agreed to acquire Playa Hotels & Resorts for $2.6 billion, including approximately $900 million in debt. The acquisition is aimed at bolstering Hyatt’s presence in the all-inclusive resort markets in Mexico, the Dominican Republic, and Jamaica.
Hyatt’s subsidiary, HI Holdings Playa, is facilitating the tender offer, which is subject to several conditions, including minimum tender requirements and regulatory approvals.
Hyatt will file a tender offer statement with the U.S. Securities and Exchange Commission (SEC), providing further details of the offer. Concurrently, Playa will file a Schedule 14D-9 with the SEC, containing its Board of Directors’ recommendation for shareholders to accept the tender offer.
The completion of the acquisition is expected later this year, pending shareholder approval, regulatory clearances, and other customary closing conditions.
