Just two weeks after acquiring Playa Hotels & Resorts, Hyatt Hotels announced a deal to sell the real estate portfolio of the all-inclusive resort brand for $2 billion, retaining its asset-light strategy.
Hyatt announced on Monday that it will sell 15 resorts located in Mexico and Caribbean to Tortuga Resorts. Tortuga Resorts is a joint venture of private equity firm KSL Capital Partners with investment group Rodina.
Hyatt purchased Playa on June 17 in a $2.6 Billion transaction. Hyatt will pay $555 million to manage Playa’s resorts after selling its real estate.
Hyatt Hotel
