Hyatt Hotels Corporation has entered into an agreement to sell the entire Playa Hotels & Resorts real estate portfolio, which it purchased from Playa on June 17.
The 15 all-inclusive resorts in Mexico, the Dominican Republic and Jamaica (a collection that includes eight Hyatt Ziva and Hyatt Zilara properties) will go to Tortuga Resorts for $2 billion. The deal is expected to close before the end of this year, though it is subject to regulatory approval in Mexico and other standard conditions.
Following the sale, Hyatt and Tortuga will also enter into a 50-year management agreement giving Hyatt operational control over 13 of the 15 properties in the portfolio (the last two are under separate contracts).
Hyatt entered the all-inclusive market in collaboration with Playa in 2013, when it launched the Ziva and Zilara brands. Since then, the company expanded its holdings with the acquisition of Apple Leisure Group in 2021, and a strategic venture in 2024 with Grupo Pinero that added Bahia Principe Hotels & Resorts to the Hyatt portfolio.
