Hyatt Hotels (H) said Monday that its subsidiary, HI Holdings Playa, has extended the offering period of its cash tender offer to acquire all outstanding shares of Playa Hotels & Resorts (PLYA) for $13.50 per share.

The company said the offer will now expire on May 23 unless further extended or terminated.

Hyatt said in February that it had agreed to acquire Playa Hotels & Resorts for about $2.6 billion.