Hyatt Hotels Corporation (the “Company”) (NYSE: H) today announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. (“Playa”) to Tortuga Resorts (“Tortuga”), a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately $2 billion. Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga in connection with the transaction.Hyatt Hotels Corporation (the “Company”) (NYSE: H) today announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. (“Playa”) to Tortuga Resorts (“Tortuga”), a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately $2 billion. Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga in connection with the transaction.
Hyatt Completes $2.0 Billion Sale of Playa’s Owned Real Estate Portfolio to Tortuga
