Tl;dr – Hyatt extended the date of its tender offer to complete its purchase of all remaining shares of Playa Hotels & Resorts N.V.
In the past, I’ve written about Hyatt’s heavy investment into the all-inclusive game, in particular its pending acquisition of Playa Hotels & Resorts. Though the deal still appears to be on track, it looks like it will take just a bit longer. Hyatt recently announced it extended the date of its tender offer, pending satisfaction of “the conditions described in the [original] tender offer.” The deadline has been extended a week, so there are signs that the remaining hang-ups aren’t incredibly material. Additionally, based on my experience covering these matters, you wouldn’t take the time to issue a formal press release if there were significant obstacles to completing this deal. (Usually, someone else would put out a report breaking news that the deal is off).
Playa Hotels and Resorts is the owner of several marquee hotels in the Caribbean and Mexico. What’s interesting about its portfolio is that some of its existing properties are signed to other hotel chains, such as the Sanctuary Cap Cana, a Luxury Collection Resort (Marriott), Wyndham Alltra Playa Del Carmen, Adults Only (Wyndham), Paraiso de la Bonita Luxury Collection Resort (also Marriott), Kimpton Tres Rios (IHG), and Hilton La Romana Adult Resort (Hilton).
I’d imagine that these properties would transfer over to Hyatt post-acquisition, albeit with some runway.
