Hyatt Ziva Rose Corridor – Picture Credit score Hyatt
Hyatt Accommodations Company has accomplished the sale of its Playa Accommodations & Resorts actual property portfolio to Tortuga Resorts for roughly $2 billion.
Hyatt Accommodations Company has introduced the completion of the sale of its actual property portfolio, acquired from Playa Accommodations & Resorts N.V., to Tortuga Resorts. The transaction, valued at roughly $2 billion, consists of 15 all-inclusive properties situated in Mexico, the Dominican Republic, and Jamaica. An extra earnout of as much as $143 million is feasible if particular operational benchmarks are met. Hyatt has additionally retained $200 million in most popular fairness in Tortuga as a part of the transaction.
The portfolio initially comprised 15 properties, of which one was bought to a separate purchaser for $22 million on September 18, 2025. The remaining properties have now been transferred to Tortuga. Alongside the sale, Hyatt has entered into 50-year administration agreements for 13 of the 14 properties with Tortuga, sustaining phrases in step with current all-inclusive administration agreements. The 14th property is below a separate contractual association.
This transaction aligns with Hyatt’s technique to deal with an asset-light enterprise mannequin. The proceeds from the sale might be used to repay a delayed draw time period mortgage that funded a part of the Playa acquisition. Hyatt expects its professional forma internet leverage to stay throughout the thresholds obligatory to take care of its investment-grade credit score profile.
In reference to the transaction, Hyatt engaged BDT & MSD Companions as its lead monetary advisor, Berkadia as actual property advisor, and Latham & Watkins LLP as authorized counsel. Tortuga was suggested completely by Goldman Sachs & Co. LLC, with authorized counsel from Simpson Thacher & Bartlett LLP.
Moreover, as a consequence of injury from Hurricane Melissa in October 2025, seven Hyatt properties in Jamaica are anticipated to stay closed till the fourth quarter of 2026. No casualties have been reported, however vital property injury was sustained. Hyatt has supplied monetary help to affected workers by the Hyatt Care Fund and different assist initiatives.
