Hyatt to acquire Playa Hotels for $2.6B

Group 1 - Hyatt Hotels is acquiring Playa Hotels & Resorts for approximately $2.6 billion, including debt and net of cash, to enhance its presence in Mexico and the Caribbean [1] - The acquisition is driven by increasing interest in upscale and luxury offerings outside the U.S. as more Americans leverage a stronger dollar [1] - Playa operates 24 high-end, all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic [1] Group 2 - Hyatt has proposed $13.50 per Playa share, which represents a 40.5% premium over Playa's last closing price before the announcement of deal talks [2] - Playa's shares increased by 2% in premarket trading following the announcement [2] - Hyatt, which already holds a 9.4% stake in Playa, anticipates the deal will close later this year and plans to identify third-party buyers for Playa's owned properties [2] Group 3 - Hyatt expects to generate at least $2 billion from the sale of assets by 2027 as part of its strategy [2] - This acquisition aligns with Hyatt's asset-light business model, focusing on managing or franchising properties rather than owning them [3]