Hyatt Commences Tender Offer For All Outstanding Ordinary Shares of Playa Hotels & Resorts N.V.
Hyatt Hotels (NYSE: H) has announced the commencement of a cash tender offer through its subsidiary HI Holdings Playa B.V. to acquire all outstanding ordinary shares of Playa Hotels & Resorts (NASDAQ: PLYA) for $13.50 per share in cash. The offer follows a purchase agreement dated February 9, 2025.
Playa is a leading operator of all-inclusive resorts in Mexico, the Dominican Republic, and Jamaica. Hyatt's subsidiary currently owns 9.4% of Playa's outstanding shares. The tender offer is set to expire on April 25, 2025, at 5:00 p.m. New York City Time, unless extended.
The deal is subject to conditions including a minimum tender requirement and regulatory approvals. Both companies will file necessary documentation with the SEC, with Playa's Board of Directors recommending shareholders accept the offer.
Hyatt Hotels (NYSE: H) ha annunciato l'inizio di un'offerta di acquisto in contante attraverso la sua controllata HI Holdings Playa B.V. per acquisire tutte le azioni ordinarie in circolazione di Playa Hotels & Resorts (NASDAQ: PLYA) a $13.50 per azione in contante. L'offerta segue un accordo di acquisto datato 9 febbraio 2025.
Playa è un operatore leader di resort all-inclusive in Messico, Repubblica Dominicana e Giamaica. La controllata di Hyatt attualmente possiede il 9,4% delle azioni in circolazione di Playa. L'offerta di acquisto scadrà il 25 aprile 2025, alle 17:00 ora di New York, salvo proroghe.
L'accordo è soggetto a condizioni, tra cui un requisito minimo di adesione e approvazioni normative. Entrambe le aziende presenteranno la documentazione necessaria alla SEC, con il Consiglio di Amministrazione di Playa che raccomanda agli azionisti di accettare l'offerta.
Hyatt Hotels (NYSE: H) ha anunciado el inicio de una oferta de compra en efectivo a través de su subsidiaria HI Holdings Playa B.V. para adquirir todas las acciones ordinarias en circulación de Playa Hotels & Resorts (NASDAQ: PLYA) por $13.50 por acción en efectivo. La oferta sigue un acuerdo de compra fechado el 9 de febrero de 2025.
Playa es un operador líder de resorts todo incluido en México, República Dominicana y Jamaica. La subsidiaria de Hyatt posee actualmente el 9.4% de las acciones en circulación de Playa. La oferta de compra expirará el 25 de abril de 2025, a las 5:00 p.m. hora de Nueva York, a menos que se extienda.
El acuerdo está sujeto a condiciones, incluyendo un requisito mínimo de aceptación y aprobaciones regulatorias. Ambas empresas presentarán la documentación necesaria a la SEC, con la Junta Directiva de Playa recomendando a los accionistas aceptar la oferta.
하얏트 호텔 (NYSE: H)는 자회사 HI Holdings Playa B.V.를 통해 플라야 호텔 & 리조트 (NASDAQ: PLYA)의 모든 보통주를 주당 $13.50의 현금으로 인수하기 위한 현금 입찰 제안을 시작한다고 발표했습니다. 이 제안은 2025년 2월 9일 자 매매 계약에 따른 것입니다.
플라야는 멕시코, 도미니카 공화국 및 자메이카에서 올-인클루시브 리조트를 운영하는 선도적인 업체입니다. 하얏트의 자회사는 현재 플라야의 발행 주식의 9.4%를 소유하고 있습니다. 입찰 제안은 2025년 4월 25일 오후 5시(뉴욕 시간)에 만료될 예정이며, 연장될 수 있습니다.
이 거래는 최소 입찰 요건 및 규제 승인 등 조건에 따라 진행됩니다. 두 회사는 SEC에 필요한 문서를 제출할 것이며, 플라야의 이사회는 주주들에게 제안을 수용할 것을 권장하고 있습니다.
Hyatt Hotels (NYSE: H) a annoncé le lancement d'une offre d'achat en espèces par l'intermédiaire de sa filiale HI Holdings Playa B.V. pour acquérir toutes les actions ordinaires en circulation de Playa Hotels & Resorts (NASDAQ: PLYA) au prix de $13,50 par action en espèces. L'offre fait suite à un contrat d'achat daté du 9 février 2025.
Playa est un opérateur de premier plan de complexes hôteliers tout compris au Mexique, en République dominicaine et en Jamaïque. La filiale de Hyatt détient actuellement 9,4 % des actions en circulation de Playa. L'offre d'achat expirera le 25 avril 2025 à 17h00, heure de New York, sauf prolongation.
L'accord est soumis à des conditions, y compris un minimum d'acceptation et des approbations réglementaires. Les deux entreprises soumettront les documents nécessaires à la SEC, le conseil d'administration de Playa recommandant aux actionnaires d'accepter l'offre.
Hyatt Hotels (NYSE: H) hat den Beginn eines Barangebots über ihre Tochtergesellschaft HI Holdings Playa B.V. bekannt gegeben, um alle ausstehenden Stammaktien von Playa Hotels & Resorts (NASDAQ: PLYA) zu einem Preis von $13,50 pro Aktie in bar zu erwerben. Das Angebot folgt einem Kaufvertrag vom 9. Februar 2025.
Playa ist ein führender Betreiber von All-Inclusive-Resorts in Mexiko, der Dominikanischen Republik und Jamaika. Die Tochtergesellschaft von Hyatt besitzt derzeit 9,4% der ausstehenden Aktien von Playa. Das Angebot läuft am 25. April 2025 um 17:00 Uhr New Yorker Zeit aus, sofern es nicht verlängert wird.
Der Deal unterliegt Bedingungen, einschließlich einer Mindestannahmequote und behördlichen Genehmigungen. Beide Unternehmen werden die erforderlichen Unterlagen bei der SEC einreichen, wobei der Vorstand von Playa den Aktionären empfiehlt, das Angebot anzunehmen.
- Acquisition will expand Hyatt's presence in all-inclusive resort market
- Already owns 9.4% stake in target company
- Clear acquisition price of $13.50 per share in cash
- Subject to regulatory approvals which could delay or prevent completion
- Significant cash expenditure required for acquisition
- Minimum tender condition could potentially block deal completion
Insights
The tender offer for Playa Hotels & Resorts marks a pivotal expansion of Hyatt's all-inclusive resort portfolio, building on their existing
The timing of this acquisition is particularly strategic, capitalizing on the robust recovery and transformation of leisure travel patterns post-pandemic. The all-inclusive segment has shown remarkable resilience and growth potential, with higher average daily rates and strong booking patterns, especially in the luxury tier where Playa operates.
Several key strategic benefits emerge from this transaction:
- Immediate scale in the all-inclusive segment, adding Playa's portfolio of premium resorts to Hyatt's existing offerings
- Enhanced distribution capabilities and cross-selling opportunities through Hyatt's global reservation system and World of Hyatt loyalty program
- Operational synergies through combined purchasing power, technology integration, and shared best practices
- Strengthened competitive position against major rivals who have also been expanding in the all-inclusive space
The tender offer structure, subject to regulatory approvals and a minimum tender condition, provides a clear path to full ownership. The April 25, 2025 expiration date allows sufficient time for regulatory reviews in multiple jurisdictions. The transaction's success could reshape the competitive landscape in the premium all-inclusive resort segment, potentially triggering further consolidation in the space.
Playa is a leading owner and operator of all-inclusive resorts in
The tender offer is scheduled to expire at 5:00 p.m. New York City Time, on April 25, 2025, unless extended in accordance with the terms of the purchase agreement. The tender offer is subject to various conditions, including, among other things, satisfaction of a minimum tender condition and the receipt of regulatory approvals in various jurisdictions.
Hyatt will file today with the
About Hyatt Hotels Corporation
Hyatt Hotels Corporation (NYSE: H), headquartered in
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V., through its subsidiaries (NASDAQ: PLYA, “Playa”), is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in
Important Information About the Tender Offer
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell Ordinary Shares of Playa Hotels & Resorts N.V. (“Playa”) or any other securities, nor is it a substitute for the tender offer materials that HI Holdings Playa B.V. (the “Buyer”) filed with the SEC upon the commencement of the tender offer. The Purchaser has filed with the SEC a tender offer statement on Schedule TO (the “Tender Offer Statement”) and the Company has filed with the SEC a solicitation/recommendation statement on Schedule 14D-9 (the “Solicitation/Recommendation Statement”) with respect to the tender offer. THE TENDER OFFER STATEMENT (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. PLAYA’S SHAREHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY (AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF PLAYA’S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION WITH RESPECT TO THE TENDER OFFER. The Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents), as well as the Solicitation/Recommendation Statement, are available to all holders of Playa’s Ordinary Shares at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement are available for free at the SEC’s website at www.sec.gov. Copies of the documents filed by the Buyer with the SEC will also be available free of charge on Hyatt’s Investor Relations site at investors.hyatt.com. In addition, Playa shareholders may obtain free copies of the tender offer materials by contacting the information agent for the tender offer by telephone at (866) 828-4304 (toll free) or (210) 664-3693 (non-toll free), or by email at HyattOffer@georgeson.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements,” which statements are not historical facts, relating to Hyatt, Playa and the proposed acquisition. These statements include, but are not limited to: statements about the proposed acquisition and the expected timeline for completing the acquisition; approvals of the acquisition; ability to consummate and finance the acquisition; method of financing the acquisition; integration of the acquisition; future operations or benefits; future business and financial performance; and outcomes of the proposed acquisition involve known and unknown risks that are difficult to predict. Words such as “anticipate,” “believe,” “estimate,” “expect,” “seek,” “likely,” “forecast,” “estimate,” “continue,” “intend,” “may,” “could,” “plan,” “project,” “predict,” “should,” “would,” “will” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended to identify such forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions available to us as of the date the statements are made, which are inherently uncertain. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements due to various known and unknown risks and uncertainties. Factors that may cause actual results, performance or achievements to differ materially from current expectations include, but are not limited to: the effects that the announcement or pendency of the proposed acquisition may have on us, Playa and our respective business and ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom we or they do business; inability to obtain required regulatory or government approvals or to obtain such approvals on satisfactory conditions; inability to obtain sufficient shareholder tender of Playa ordinary shares, shareholder approval or to satisfy other closing conditions; inability to obtain financing; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement; the effects that any termination of the definitive agreement may have on us or our business; failure to successfully complete the proposed acquisition; legal proceedings that may be instituted related to the proposed acquisition; significant and unexpected costs, charges or expenses related to the proposed acquisition; risks associated with potential divestitures, including of Playa real estate or business; ability or failure to successfully integrate the acquisition with existing operations; ability to realize anticipated synergies or obtain the results anticipated; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the financial condition of, and our and Playa’s relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; our ability to successfully execute our strategy to expand our management and hotels services and franchising business while at the same time reducing Playa’s real estate asset base within targeted timeframes and at expected values; our and Playa’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of real estate assets; unforeseen terminations of management and hotels services or franchise agreements; risks associated with changing, or the introduction of new, brand concepts, including lack of acceptance of different or new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we and Playa operate; violations of regulations or laws related to our or Playa’s franchising businesses, licensing businesses or international operations; and other risks discussed in our filings with the SEC, including our most recently filed annual report on Form 10-K and subsequent quarterly reports filed on Form 10-Q, which filings are incorporated herein by reference and available from the SEC’s website at www.sec.gov, and in other documents that we may file with or furnish to the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements or otherwise, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
HHC-FIN
View source version on businesswire.com: https://www.businesswire.com/news/home/20250224115737/en/
For further information:
Hyatt Media Contact:
Franziska Weber
franziska.weber@hyatt.com
Hyatt Investor Contacts:
Adam Rohman
adam.rohman@hyatt.com
Ryan Nuckols
ryan.nuckols@hyatt.com
Source: Hyatt Hotels Corporation
FAQ
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