Hyatt’s Offer for Playa Resorts
Hyatt Hotels Corporation has announced that it is commencing, through an indirect wholly owned subsidiary, HI Holdings Playa B.V., a cash tender offer to purchase all of the outstanding ordinary shares of Playa Hotels & Resorts N.V. for $13.50 per share in cash, less any applicable withholding taxes and without interest. The offer is being made pursuant to the previously announced purchase agreement, dated February 9, 2025, among Hyatt, Buyer and Playa.
Playa is a leading owner and operator of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. Buyer is currently the beneficial owner of 9.4% of Playa’s outstanding shares.
The tender offer is scheduled to expire at 5:00 p.m. New York City Time, on April 25, 2025, unless extended in accordance with the terms of the purchase agreement. The tender offer is subject to various conditions, including, among other things, satisfaction of a minimum tender condition and the receipt of regulatory approvals in various jurisdictions.
Hyatt will file today with the U.S. Securities and Exchange Commission (the “SEC”) a tender offer statement on Schedule TO, which includes the terms of the tender offer. Additionally, Playa will file a Schedule 14D-9 with the SEC containing the recommendation of its Board of Directors that Playa shareholders accept the tender offer and tender their shares. The Schedule TO, Schedule 14D-9, related letter of transmittal (together with any amendments or supplements thereto) and other tender offer documents can be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting the information agent for the tender offer, Georgeson LLC as described in the tender offer documents.
