NEWS: Hyatt Completes $2 Billion Sale of Playa Hotels Portfolio to Tortuga Resorts

Hyatt Hotels Corporation (NYSE: H) today announced the completion of the sale of its real estate portfolio previously acquired from Playa Hotels & Resorts N.V. to Tortuga Resorts for approximately $2 billion. Under the terms of the transaction, Hyatt may receive up to an additional $143 million in earnouts if certain operating targets are achieved and retains $200 million of preferred equity in Tortuga.

The portfolio included 15 all-inclusive resorts located in Mexico, the Dominican Republic, and Jamaica. As previously disclosed, one property was sold to a separate third-party buyer on September 18, 2025, for $22 million. With the closing of the Tortuga transaction, Hyatt has successfully sold the entire Playa real estate portfolio for a total of $2 billion.

Concurrently, Hyatt and Tortuga have entered into 50-year management agreements for 13 of the 14 properties, aligned with Hyatt’s existing all-inclusive management standards. The remaining property will continue under a separate contractual arrangement.

“This closing represents a transformative milestone for Hyatt’s Inclusive Collection,” said Javier Águila, President, Inclusive Collection, Hyatt. “These long-term management agreements ensure we continue delivering exceptional all-inclusive experiences. We are grateful to the teams whose dedication and collaboration made this achievement possible, and we look forward to building on the shared culture of care between Playa and Hyatt to delight our guests for years to come.”

Leo Schlesinger, CEO of Tortuga, added, “This transaction establishes Tortuga as a leading platform in luxury beachfront hospitality across Mexico and the Caribbean. We are thrilled to expand our partnership with Hyatt and collaborate with our brand partners, property teams, and investors to unlock growth opportunities. Together, we will deliver unforgettable experiences for our guests and long-term value for all stakeholders.”

Proceeds from the sale will be used to repay a delayed draw term loan that funded a portion of the original Playa acquisition. Hyatt expects pro forma net leverage to remain consistent with the thresholds necessary to maintain its investment-grade credit profile.