Hyatt Set to Acquire Playa Hotels After Antitrust Approval
Playa Hotels & Resorts has confirmed that all necessary antitrust approvals have been secured for its pending acquisition by Hyatt Hotels Corporation. The final approval from Mexico’s competition authority removes the last major regulatory barrier for the transaction.
Hyatt’s tender offer to acquire all outstanding ordinary shares of Playa at $13.50 per share in cash, subject to applicable withholding taxes and without interest, is set to expire at 5 p.m. ET on June 9, 2025. The offer is being made under the terms of the purchase agreement signed on February 9 between Hyatt and Playa Hotels & Resorts.
If the minimum tender threshold and other closing conditions are met, Hyatt will accept the tendered shares for payment on June 11. Following the conclusion of the tender offer period and subsequent transaction steps outlined in the purchase agreement, Hyatt is expected to complete the full acquisition and take ownership of all outstanding Playa shares by around June 17.
Additionally, Playa has submitted a written notice to Nasdaq indicating its intent to voluntarily delist its ordinary shares. This move is contingent upon the successful completion of the Hyatt tender offer and Hyatt acquiring all validly tendered shares as outlined in the agreement.
The acquisition is a strategic move for Hyatt, significantly expanding its all-inclusive resort portfolio, particularly in Latin America and the Caribbean, where Playa owns and operates numerous properties under well-known brands. The deal is expected to enhance Hyatt’s global presence in the luxury resort segment.
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