Playa Hotels & Resorts N.V. Confirms Extension of Exclusivity Period With Hyatt Hotels Corporation
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) has announced an extension of its exclusivity agreement with Hyatt Hotels (NYSE: H) until February 10, 2025, at 11:59 p.m. New York City time. The extension relates to ongoing discussions about potential strategic options, including a possible acquisition of Playa by Hyatt.
The company emphasized that there is no guarantee of reaching a definitive agreement or completing any transaction. Playa currently owns and manages a portfolio of 24 resorts (8,627 rooms) across Mexico, Jamaica, and the Dominican Republic under various brands including Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, and others. PJT Partners LP is serving as financial advisor, with Hogan Lovells as legal counsel.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) ha annunciato un'estensione del suo accordo di esclusività con Hyatt Hotels (NYSE: H) fino al 10 febbraio 2025, alle 23:59 ora di New York. L'estensione riguarda i colloqui in corso su potenziali opzioni strategiche, inclusa una possibile acquisizione di Playa da parte di Hyatt.
La società ha sottolineato che non ci sono garanzie di raggiungere un accordo definitivo o di completare alcuna transazione. Playa possiede e gestisce attualmente un portafoglio di 24 resort (8.627 camere) in Messico, Giamaica e Repubblica Dominicana sotto vari marchi tra cui Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive e altri. PJT Partners LP funge da consulente finanziario, con Hogan Lovells come consulente legale.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) ha anunciado una extensión de su acuerdo de exclusividad con Hyatt Hotels (NYSE: H) hasta el 10 de febrero de 2025, a las 11:59 p.m. hora de Nueva York. La extensión se refiere a las discusiones en curso sobre posibles opciones estratégicas, incluida una posible adquisición de Playa por parte de Hyatt.
La empresa enfatizó que no hay garantía de alcanzar un acuerdo definitivo o completar ninguna transacción. Playa actualmente posee y gestiona un portafolio de 24 resorts (8,627 habitaciones) en México, Jamaica y República Dominicana bajo varias marcas, incluidas Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive y otras. PJT Partners LP actúa como asesor financiero, con Hogan Lovells como asesor legal.
플라야 호텔 & 리조트 N.V. (NASDAQ: PLYA)는 하얏트 호텔 (NYSE: H)와의 독점 계약을 2025년 2월 10일 오후 11시 59분(뉴욕 시간)까지 연장한다고 발표했습니다. 이 연장은 하얏트의 플라야 인수 가능성을 포함한 전략적 옵션에 대한 ongoing 토론과 관련이 있습니다.
회사는 최종 계약에 도달하거나 거래를 완료할 보장은 없다고 강조했습니다. 플라야는 현재 멕시코, 자메이카 및 도미니카 공화국에 위치한 24개의 리조트(8,627개 객실)를 다양한 브랜드로 소유 및 관리하고 있으며, 여기에는 하얏트 질라라, 하얏트 지바, 힐튼 올 인클루시브 등이 포함됩니다. PJT 파트너스 LP가 재정 고문으로 참여하며, 호간 로벨스가 법률 자문을 맡고 있습니다.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) a annoncé une prolongation de son accord d'exclusivité avec Hyatt Hotels (NYSE: H) jusqu'au 10 février 2025 à 23h59, heure de New York. Cette prolongation concerne les discussions en cours sur des options stratégiques potentielles, y compris une acquisition possible de Playa par Hyatt.
La société a souligné qu'il n'y a aucune garantie d'atteindre un accord définitif ou de réaliser une transaction. Playa possède et gère actuellement un portefeuille de 24 stations (8 627 chambres) à travers le Mexique, la Jamaïque et la République dominicaine sous diverses marques, y compris Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive et d'autres. PJT Partners LP agissant en tant que conseiller financier, avec Hogan Lovells comme conseiller juridique.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) hat eine Verlängerung seines Exklusivitätsvertrags mit Hyatt Hotels (NYSE: H) bis zum 10. Februar 2025 um 23:59 Uhr New Yorker Zeit angekündigt. Die Verlängerung bezieht sich auf laufende Gespräche zu potenziellen strategischen Optionen, einschließlich einer möglichen Übernahme von Playa durch Hyatt.
Das Unternehmen betonte, dass es keine Garantie für das Erreichen einer endgültigen Vereinbarung oder den Abschluss einer Transaktion gibt. Playa besitzt und verwaltet derzeit ein Portfolio von 24 Resorts (8.627 Zimmer) in Mexiko, Jamaika und der Dominikanischen Republik unter verschiedenen Marken, einschließlich Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive und anderen. PJT Partners LP fungiert als Finanzberater, während Hogan Lovells als Rechtsberater tätig ist.
- Potential strategic acquisition by major hospitality company Hyatt Hotels
- Substantial portfolio of 24 resorts with 8,627 rooms in prime locations
- Partnerships with globally recognized hospitality brands
- Uncertainty about transaction completion or final terms
- Extended negotiation period suggests potential complexity in reaching agreement
Insights
The extension of the exclusivity period between Playa Hotels & Resorts and Hyatt Hotels is a significant development in what could be a transformative deal in the hospitality sector. This extension, while brief, suggests substantial progress in negotiations, as companies typically only extend exclusivity when they've made meaningful headway toward a potential agreement.
The strategic rationale for this potential acquisition is compelling. Playa's portfolio of 24 resorts with 8,627 rooms across premium beach locations in Mexico, Jamaica and the Dominican Republic would significantly enhance Hyatt's presence in the lucrative all-inclusive resort segment. The existing partnership through Hyatt Zilara and Hyatt Ziva brands has already demonstrated successful collaboration, potentially reducing integration risks.
Several key factors make this potential transaction particularly noteworthy:
- Playa's multi-brand portfolio, including partnerships with Hilton and Wyndham, could provide Hyatt with immediate scale in the all-inclusive segment
- The company's direct-to-consumer strategy and established relationships with major hospitality brands could offer significant revenue synergies
- The timing aligns with the broader industry trend of major hotel chains expanding their all-inclusive offerings to meet growing consumer demand
The engagement of PJT Partners, known for their expertise in complex hospitality transactions, suggests this deal is being approached with sophisticated financial engineering. While no transaction is guaranteed, the extension of exclusivity typically indicates both parties are invested in reaching a successful conclusion.
There can be no assurance that the Company and Hyatt will enter into a definitive agreement for a potential transaction and there is no assurance as to the form, terms or timing of any transaction even if an agreement is reached between the parties. The Company does not intend to comment further, unless and until it otherwise deems further disclosure is appropriate or required.
PJT Partners LP is serving as financial advisor to Playa Hotels & Resorts and Hogan Lovells is serving as legal counsel.
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
For additional information visit investors.playaresorts.com.
Forward-Looking Statements
This press release contains "forward-looking statements," as defined by federal securities laws, including statements regarding the Company's discussions with Hyatt and the expiration of the exclusivity agreement. Forward-looking statements reflect our current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled "Risk Factors" in Playa's Annual Report on Form 10-K, filed with the SEC on February 22, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Playa's filings with the SEC. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to us (or to third parties making the forward-looking statements).
For further information: Playa Hotels & Resorts N.V., Pedram Saif, SVP, IR & Strategy, 571-529-6014, ir@playaresorts.com
Media Contact:
Andrew Siegel / Tim Ragones / Charlotte Burch
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
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SOURCE Playa Hotels & Resorts N.V.
FAQ
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