Hyatt Hotels (H) said late Tuesday it completed the acquisition of Playa Hotels & Resorts (PLYA), expanding its portfolio of all-inclusive resorts to meet growing guest demand.
The deal includes 15 beachfront resorts previously owned and managed by Playa across Mexico, the Dominican Republic, and Jamaica. Eight of those properties were already part of Hyatt's system under the Hyatt Ziva and Hyatt Zilara brands.
Hyatt said its collaboration with Playa began in 2013 and added that the acquisition strengthens its position in the all-inclusive segment. The company plans to provide additional financial details during its Q2 earnings call.
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