Hyatt nears Playa Hotels acquisition with 92.7% shares tendered

CHICAGO - Hyatt Hotels Corporation (NYSE: H), a global hospitality leader, has announced the successful tender of approximately 92.7% of Playa Hotels & Resorts N.V. (NASDAQ: PLYA) shares. This substantial acquisition positions Hyatt closer to finalizing its purchase of Playa, a move that will significantly expand its portfolio in the all-inclusive resort market.

The initial offering period, which ended on Monday, saw 101,891,119 shares of Playa validly tendered, not including shares tendered through guaranteed delivery procedures. With the addition of 12,143,621 shares already owned by Hyatt and its affiliates, the tendered shares crossed the minimum condition threshold necessary for the acquisition.

Hyatt’s offer to purchase Playa shares at $13.50 each, valuing the transaction at approximately $2.6 billion, including around $900 million of Playa’s debt net of cash, has been met with a positive response from shareholders. The deal aligns with Hyatt’s current moderate debt profile, maintaining a debt-to-equity ratio of 1.33. The acceptance of all validly tendered shares is anticipated to occur on or around Thursday. For detailed analysis of this transaction’s impact on Hyatt’s financials, InvestingPro subscribers can access the comprehensive Pro Research Report, one of 1,400+ available deep-dive analyses.

Furthermore, Hyatt has initiated a subsequent offering period for remaining Playa shareholders to tender their shares, which will remain open until 11:59 p.m., New York City time, on June 16, 2025. Shares tendered during this period will not be withdrawable. In anticipation of the acquisition’s completion, Playa’s shares are expected to be delisted from Nasdaq before the market opens on the final day of the subsequent offering period.

This acquisition is a strategic move by Hyatt to bolster its presence in prime beachfront locations, leveraging Playa’s expertise in operating all-inclusive resorts in Mexico, Jamaica, and the Dominican Republic.

The transaction, subject to customary closing conditions, is expected to enhance Hyatt’s offerings by integrating Playa’s recognized brands and loyal customer base into its extensive portfolio of hotels and resorts.

The information provided in this article is based on a press release statement from Hyatt Hotels Corporation.

In other recent news, Hyatt Hotels Corporation has received all necessary regulatory approvals to acquire Playa Hotels & Resorts for $13.50 per share. This acquisition follows a purchase agreement dated February 9, 2025, and is expected to be finalized shortly after June 9, 2025. The Federal Competition Commission of Mexico has cleared the transaction, allowing Hyatt to proceed with its tender offer. Playa Hotels has announced its intention to delist from Nasdaq contingent upon the acquisition’s completion. In a related development, Hyatt clarified the terms of its purchase agreement with Playa, ensuring restricted shares are excluded from the minimum tender condition. Meanwhile, Hyatt introduced a new brand, Unscripted by Hyatt, as part of its Essentials portfolio expansion, targeting travelers who value flexibility and local character. Jefferies analyst firm recently raised Hyatt’s price target to $135, acknowledging the strategic merit of the Playa acquisition but maintaining a Hold rating due to complexities in the acquisition process and macroeconomic pressures. Hyatt continues to expand its Lifestyle and Luxury portfolios, with significant growth in room count and several planned openings through 2026.

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