Hyatt Hotels Corporation, a leading global hospitality company, announced today that all required regulatory approvals have been obtained for its previously announced cash tender offer to purchase all of the outstanding ordinary shares of Playa Hotels & Resorts for $13.50 per share in cash, less any applicable withholding taxes and without interest. The offer is being made under the previously announced purchase agreement, dated February 9, 2025 (the “Purchase Agreement”), among Hyatt, HI Holdings Playa B.V. (“Buyer”) and Playa.
On June 5, 2025, under the provisions of the Federal Law of Economic Competition (Ley Federal de Competencia Económica), the Federal Competition Commission (Comisión Federal de Competencia Económica) issued a resolution approving the transactions contemplated by the Purchase Agreement.
As a result of the regulatory approvals, Hyatt expects to complete the tender offer promptly following the expiration of the offer, which is scheduled to expire at 5:00 p.m., New York City time, on June 9, 2025. Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO. Assuming the minimum tender and other offer conditions are satisfied, the tendered shares are expected to be accepted for payment on or about June 11, 2025.
Pursuant to the terms of the Purchase Agreement, if the minimum tender condition in the tender offer is satisfied, along with certain other closing conditions expected to be satisfied at expiration, then on June 10, 2025, Hyatt will commence a subsequent offering period for the tender offer for any Playa ordinary shares not already tendered, which will expire at 11:59 p.m., New York City time, on June 16, 2025. Following this subsequent offering period and the related transactions required by the Purchase Agreement, Hyatt expects to own all ordinary shares of Playa on or about June 17, 2025.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2025, the Company’s portfolio included more than 1,450 hotels and all-inclusive properties in 79 countries across six continents.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V., through its subsidiaries, is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in Mexico, Jamaica and the Dominican Republic.
Leave a comment