Hyatt to acquire Playa Hotels for $2.6B

Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion including debt, net of cash, the company said on Monday, seeking to boost its presence in Mexico and the Caribbean. The acquisition follows rising interest in upscale and luxury offerings outside the U.S. as more Americans take advantage of a stronger dollar.Playa runs 24 high-end, all-inclusive resorts across Mexico, Jamaica and the Dominican Republic. Hyatt has offered $13.50 per Playa share held, representing a 40.5% premium to its last ...