Hyatt Sells Playa Resorts Real Estate in $2B Deal

Hyatt Hotels Corporation has announced a $2 billion deal to sell the real estate of Playa Hotels & Resorts to Tortuga Resorts, just weeks after finalizing its acquisition of the all-inclusive resort company. The transaction includes 15 properties located across Mexico, the Dominican Republic, and Jamaica, and is designed to reinforce Hyatt’s commitment to an asset-light business model.

As part of the agreement, Hyatt will retain 50-year management contracts for 13 of the resorts, while the remaining two are managed under separate arrangements. The properties will continue to operate under Hyatt’s Inclusive Collection umbrella and remain part of the World of Hyatt loyalty program.

Following the sale, Hyatt’s effective net purchase price for Playa’s asset-light management business will be approximately $555 million. The company plans to use proceeds from the sale to repay a delayed draw term loan it used to finance part of the Playa acquisition.

Mark Hoplamazian, President and CEO of Hyatt, stated that the deal represents a strategic transformation. “The planned real estate sale to Tortuga transforms the acquisition of Playa Hotels & Resorts into a fully asset-light transaction and increases Hyatt’s fee-based earnings,” he said. “It demonstrates Hyatt’s commitment to its asset-light business model and ability to deliver value to shareholders that is accretive in the first full year.”

With this transaction, Hyatt continues its broader shift toward earnings driven by long-term management contracts rather than property ownership, strengthening its global position in the high-demand luxury and all-inclusive market segments.

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